2 Nov

October fails to scare away home buyers in the Fraser Valley

General

Posted by: Kimberly Walker

SURREY, BC – Ongoing demand for properties in the Fraser Valley saw overall sales reach the second highest point for an October in the Board’s history. The Fraser Valley Real Estate Board processed 1,799 sales of all property types on its Multiple Listing Service® (MLS®) in October, an increase of 23 per cent compared to […]

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2 Nov

The New Normal

General

Posted by: Kimberly Walker

’Tis the season… this was no surprise here! The latest round of mortgage guidelines has been announced by OSFI, or Office of the Superintendent of Financial Institutions. As of January 1, 2018, all conventional or uninsured mortgages will have to qualify at the Bank of Canada 5-year fixed rate or the contractual rate + 2%, […]

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1 Nov

How to Get a Mortgage After Bankruptcy

General

Posted by: Kimberly Walker

Bankruptcy is always the last resort-and it’s never easy or comfortable. However, sometimes it is the only option to turn to when life throws you something unexpected. The lasting impression it can have on one’s financial profile though can be overwhelming. If you have bankruptcy in your past, don’t fear-we have 6 steps to take […]

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30 Oct

New home sales halved in the GTA last month

General

Posted by: Kimberly Walker

Sales of new homes were down 48% in the Greater Toronto Area compared to a year earlier as low- and high- rise sectors saw large declines. High-rise sales fell 37% to 1,749, 3% below the 10-year average; and low-rise sales of just 352 was 73% below September 2016 and 70% below the 10-year average. The […]

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30 Oct

5 Simple Steps to Owning Your Own Home

General

Posted by: Kimberly Walker

Often, the route to owning your own home can seem like a trip to the moon and back. Really though, it comes down to five key steps: 1 – Manage your credit wisely. If there is one thing that will gum up the purchase of that perfect home, it’s an unwise purchase or extra credit […]

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27 Oct

Time to Lock in a Variable Rate Mortgage?

General

Posted by: Kimberly Walker

Approximately 32 per cent of Canadians are in a variable rate mortgage, which with rates effectively declining steadily for the better part of the last ten years has worked well. Recent increases triggers questions and concerns, and these questions and concerns are best expressed verbally with a direct call to your independent mortgage expert – […]

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26 Oct

Interest rates held, economists react to dovish BoC

General

Posted by: Kimberly Walker

The Bank of Canada held interest rates steady at 1% and signalled a cautious approach to future rate rises. The bank is forecasting a continued rise in inflation, reaching 2% in the second half of 2018 and for the economy to grow at above-potential with 3.1% for this year, 2.1% for 2018 and 1.5% in […]

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26 Oct

Payment frequency, does it really make a difference?

General

Posted by: Kimberly Walker

It has been said that there are two certainties in life; death and taxes. Well, as it relates to your mortgage, the single certainty is that you will pay back what you borrowed, plus interest. However, how you make your mortgage payments, the payment frequency, is somewhat up to you! The following is a look […]

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25 Oct

Don’t ‘Fix’ It If It Isn’t Broken

General

Posted by: Kimberly Walker

By now the media, along with multiple mortgage brokers’ social media feeds, have likely let you know that more changes to your ability to get a mortgage are arriving soon. But so what? Should you care? SHORT VERSION; Probably Not. LONG VERSION; The five ’W’’s follow to help answer the above questions and more; Who […]

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