2 Feb

2018 brings more of the same for Fraser Valley real estate

General

Posted by: Kimberly Walker

SURREY, BC – Fraser Valley housing market activity in January continued on the momentum seen throughout 2017 with year-over-year increases seen for both sales and pricing. The Fraser Valley Real Estate Board processed 1,210 sales of all property types on its Multiple Listing Service® (MLS®) in January, an increase of 24 per cent compared to […]

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2 Feb

Most buyers won’t delay despite rate rises

General

Posted by: Kimberly Walker

The recent increases in interest rates appears not to have dampened the intentions of most Canadian home buyers. Just 1 in 4 surveyed for CMHC’s 2018 Prospective Home Buyer Survey said that an interest rate would make them very likely to delay purchasing a new home. However, the tight inventory in some markets is likely […]

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1 Feb

Bank vs. Credit Union – A who is who in borrowing

General

Posted by: Kimberly Walker

Banks and Credit unions are often grouped together into one category under “financial institutions”. While they may have several similarities in terms of financial service offerings, in the world of mortgages the banks and credit unions have little in common. As mortgage professionals, we work with both of them and are well versed in the […]

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31 Jan

Are you in a Variable Rate Mortgage? Me too.

General

Posted by: Kimberly Walker

Are you in a Variable Rate Mortgage? Me too. If you’re in a fixed rate mortgage, this news does not impact you. Mind you ‘impact’ is too strong a word to use for the subtle shift that occurred Jan 17, 2018. Short Version The math is as follows: A payment increase of ~$13.10 per $100,000.00 […]

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31 Jan

For Rental Properties, Cash (Flow) is King

General

Posted by: Kimberly Walker

Ask pretty much anybody about mortgages and the first, sometimes only thing they want to talk about is the interest rate. In my business as a Mortgage Professional, my job is to educate clients that while interest rate is definitely a cornerstone of your mortgage decision, it is not the only factor to consider when […]

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29 Jan

8 Things You Can Do To Get The Best Renewal

General

Posted by: Kimberly Walker

With 47 per cent of homeowners scheduled to renew their mortgages this year, 2018 is a year of change for lots of Canadians. Here are the top 8 things you can do to get the best renewal: 1. Pull out your mortgage renewal now, and start early. When you are proactive instead of reactive you […]

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25 Jan

Mortgages with the 20 Per Cent

General

Posted by: Kimberly Walker

There have been a lot of discussions around the new mortgage rules and I have had a few clients ask about what that means for them. Since stress testing on mortgages began last year, the biggest change this January will be for people who are putting more than a 20% down payment on their new […]

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22 Jan

Mortgage Broker Value

General

Posted by: Kimberly Walker

Not surprisingly, borrowers often default to their own Banker. And why not? It’s an established and comfortable relationship. Perhaps it’s viewed as the path of least resistance. But is it the right lender for the borrower’s current specific needs? Perhaps not. More sophisticated borrowers may be of a size or scale that they have their […]

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19 Jan

How mortgage brokers help you get approved by ‘A’ lenders

General

Posted by: Kimberly Walker

Every year Canadian families are caught in unexpected bad circumstances only to find out that in most cases the banks and the credit unions are there to lend you money in the good times, not so much during the bad times. This is where thousands of families have benefited over the years from the services […]

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18 Jan

9 Reasons Why People Break Their Mortgages

General

Posted by: Kimberly Walker

Did you know that 60 per cent of people break their mortgage before their mortgage term matures? Most homeowners are blissfully unaware that when you break your mortgage with your lender, you will incur penalties and those penalties can be painfully expensive. Many homeowners are so focused on the rate that they are ignorant about […]

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