Last week, CMHC (Canada Mortgage and Housing Corporation) announced that effective July 1, 2020 it will be tightening the rules for high ratio mortgage qualification. Specifically, the following 3 changes will come into effect: The maximum allowed Gross Debt Servicing (GDS) and Total Debt Servicing (TDS) ratios will be reduced to 35% (from 39%) and 42% (from 44%), respectively. At… Read More »
Better Video Meetings
With all the video meetings and conference calls happening lately, we decided to pull together what we’ve learned and put it into a quick slideshow. If you’re new to video meetings, this will give you a quick overview of the software capabilities, some lighting and microphone tips so you look and sound good, and some etiquette and best practices for… Read More »
COVID-19 – Payment Deferrals? Check the Fine Print
Payment Deferral Programs for mortgages and credit cards are being offered by many banks and lenders, but they are only meant for customers in urgent need There have been several stories circulating in the news over the last few days about credit cards offering reduced interest rates and/or deferring payments to help people who have been financially impacted by the… Read More »
COVID-19 – Information for Tenants and Landlords
I was recently contacted by one of our wonderful tenants who happens to be self-employed and in an industry that had to shut down quickly due to COVID19 a couple of weeks ago. She was being proactive in explaining her financial situation and anticipating that cash-flow would be a challenge for April. I did some research and proposed a plan… Read More »
Should I Defer my Mortgage Payments?
Over the last week there have been many announcements from the government, banks and lenders, some speculating about possible changes and other promising helpful programs but not offering specifics. One thing that has particularly caught many people’s attention is the announcement from banks and mortgage lenders that they are willing to work with their clients in arranging mortgage payment deferrals.… Read More »
COVID-19 Precautions in Our Office
Effective immediately (March 16, 2020) and until further notice, our office will be conducting all mortgage consultations and appointments by phone and collecting all documentation digitally. We have chosen to take these steps in order to do our part to slow the spread of COVID-19 through our community and to protect the health of our staff, our clients and their… Read More »
Post 2019 Election – Liberal Minority and Mortgage Rate Outlook
Well, the Election was interesting, wasn’t it? With new Liberal minority government the future for mortgage rates is still a bit up in the air. Today, as expected, the Bank of Canada (BOC) decided to hold their prime lending rate at 1.75%, which means most banks and credit unions will keep their consumer Prime Rates at 3.95% (so no immediate… Read More »
Happy Pride Week!
It’s Pride Week in the Comox Valley, and downtown Courtenay is full of rainbow flags, streamers and artwork!
#FloatieFriday is Back for Summer 2019!
Summer is here, and we’re celebrating with our weekly #FloatieFriday contest draws on Facebook!
Sponsoring the 2019 Boys and Girls Club Golf Tournament
This week Lisa and Mackenzie had a whole day out of the office volunteering at the Boys and Girls Clubs of Central Vancouver Island Golf Tournament. It was a great day with lots of fun – as usual we went all out decorating our hole (#16) with a great tent, serving up tequila jello shots and had all the golfers play… Read More »
