By this time, you should have received your property tax notice in the mail. Payment is due by Tuesday July 4th to your municipality (if you live in Courtenay, Comox, or Cumberland) or to the BC Government if you’re in the regional district. There’s typically a 5% penalty for late payment, so don’t miss the deadline! For property taxes, you… Read More »
Rate Update – June 2023
After announcing a “pause” back in January and 2 consecutive meetings where rates held steady, the Bank of Canada (BoC) today announced it is increasing it’s Policy Interest rate by 0.25% (up to 4.75%). This means that most banks will immediately increase their consumer Prime Rate from 6.7% to 6.95%. In its announcement, the BoC indicated that “excess demand in… Read More »
Rate Update – April 2023
For the second meeting in a row, the Bank of Canada (BoC) announced it is holding the overnight Prime lending rate unchanged for the next 6 weeks. The BoC’s overnight lending rate is currently at 4.5%, which means that most banks are calculating their consumer Prime Rate as 6.70%. In its announcement, the BoC indicated that they continue to assess… Read More »
A Buyer’s Journey
The home-buying process is more complicated now than it ever has been, and unfortunatley that trend doesn’t look to be going away anytime soon. Every year, our industry regulators and the provincial and federal governments seem to add extra rules to mortgage qualification and the process of purchasing or selling property, and even experienced property buyers who have bought and… Read More »
Rate Update – March 2023
Today the Bank of Canada (BoC) announced that it would keep the overnight Prime lending rate unchanged for the next 6 weeks. The BoC’s overnight lending rate is currently at 4.5%. You can find our best mortgage rates here. Variable Rate Analysis It was largely expected for the BoC to leave Prime unchanged at this meeting, after the BoC indicated… Read More »
Bank of Canada raises benchmark rate by 0.25%
Today the Bank of Canada (BoC) raised its key lending rate by 0.25%. This in turn means most banks and consumer lenders will raise their prime rates by the same amount tomorrow. With most lenders, that means their consumer prime rate will increase from 6.45% to 6.70%. This increase directly affects all borrowers with variable or adjustable rate mortgages and… Read More »
Bank of Canada raises benchmark rate by 0.50%
Today the Bank of Canada (BoC) raised its key lending rate by 0.5%, meaning most banks and consumer lenders will raise their prime rates by the same amount tomorrow. With most lenders, that means consumer prime rates will increase from 5.95% to 6.45%. The prime rate increase will directly affect all borrowers with variable or adjustable rate mortgages and lines… Read More »
Unveiling our 2022 entry to the Gingerbread Village Auction
It’s a “Mini Christmas” created by our very own Mackenzie and Payton Gartside and on full display at Crown Isle for the 21st Annual Gingerbread Village & Teddy Bear Basket Charity Auction in the Crown Isle Clubhouse December 1-16. All Funds raised in the auction will benefit the Comox Valley Transition Society, YANA Comox Valley, and MARS Wildlife Rescue.
Bank of Canada raises benchmark rate by 0.50%
This week the Bank of Canada (BoC) raised their key lending rate by 0.5%, meaning most banks and consumer lenders will raise their prime rates by the same amount. With most lenders, that means prime rates will increase from 5.45% to 5.95%. The prime rate increase will directly affect all borrowers with variable or adjustable rate mortgages and lines of… Read More »
Bank of Canada Raises benchmark rate by 0.75%
In today’s interest rate announcement the Bank of Canada (BoC) raised it’s key benchmark rate by 0.75%, which will cause all the consumer lenders to raise their prime rates by the same amount. With most lenders, that means their prime rate will increase from 4.7% to 5.45%. The prime rate increase will directly affect all borrowers with variable or adjustable… Read More »
