If you currently have a variable rate mortgage and have decided you want to convert (lock in) to a fixed rate, please read on to find instructions for your specific lender. If you are unsure about whether or not you should lock in, please read our last post on the topic for an in-depth analysis of the pros and cons… Read More »
Should I Rent-to-Own?
Right now in the Comox Valley, it’s really challenging to find decent rental housing and it’s also tough to get into the market for aspiring First Time buyers. In these challenging times, people look for any sort of in-road or advantage to help and one topic that comes up more often is the rent-to-own contract. The idea behind a rent-to-own… Read More »
Prime Rate now expected to increase aggressively through 2022. Should I lock in?
The Bank of Canada (BoC) will be meeting next on Wednesday April 13, 2022, and in the last couple of weeks its senior officials have been giving speeches indicating that we should brace for faster and larger Prime Rate increases than they predicted earlier this year. Inflation numbers are coming in stronger than expected and the BoC is going to… Read More »
Prime Rate is Increasing Soon. What should I do?
The Bank of Canada (BoC) will be meeting next Wednesday (March 2, 2022), and most economists and forecasters expect that it will raise the Prime lending rate by 0.25%. This will be the first rate increase we’ve seen since the BoC slashed rates at the start of the pandemic in early 2020. Why is Prime Increasing? The BoC is expected… Read More »
Is it time to lock in your variable rate mortgage?
As your mortgage broker, we feel part of our job is to help you stay informed about what’s happening in the national economy that may soon impact mortgage rates. Please read on to help you decide if now is a good time for you to lock your variable rate into a fixed rate. What’s happening with interest rates? As we (hopefully)… Read More »
First Time Home Buyer?
Are you a first time home buyer? 🏡 There’s a lot of information & incentives that you may qualify for! We offer a customized First Time Buyer consultation appointment where we’ll give you all the key information you need to understand the home buying process and get you pre-approved so you can start your home search with confidence! Book today… 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 »
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 »
Offering CHIP Reverse Mortgages
We recently had a client come in to discuss options for his parents, who were still happily living in the house that he grew up in here in the Comox Valley. They were both retired and living on CPP and OAS pensions, and while they were covering their basic monthly expenses, they didn’t have much in the way of savings. … Read More »
