Benchmark numbers for Nanaimo, central and northern Vancouver Island, December 2024

Posted On Jan 20, 2025

In December, 227 single-family homes sold in Nanaimo, down fifteen per cent over November and up fifty-two per cent over the previous year.-Nanaimo’s benchmark sits at $819,000, on par with both the previous year and last month.-Campbell River’s...

Who is eligible for an Insured 30 Year Amortization?

Posted On Jan 15, 2025

High ratio insured purchasers buying new construction and first-time homebuyers purchasing either existing or newly constructed homes. A First Time Homebuyer as defined by the insurers must meet one of the following criteria:The borrower has never...

Why Pay Someone Else's mortgage?

Posted On Jan 10, 2025

Why pay someone else's mortgage as rents remain high amidst moderate cool-off in the rental market.Below is rental asking on 1 bedroom units across major Canadian cities (source:www.insauga.com)Call 2508837069 or book a call here on www...

BoC using new data set to monitor financial stability and broader economy.

Posted On Jan 08, 2025

From this new dataset BoC found that:-As of September 2024, around 70% of outstanding mortgages have a current loan-to-value ratio of 65% or less.-The median amount of principal owing on outstanding mortgages is $245,000.-About 60% of outstanding...

Did you know? -the biggest mistake while renewing your mortgage

Posted On Jan 07, 2025

Did you know? -the biggest mistake home owners make while renewing their mortgage is signing whatever their existing lender gives them.-Over a million mortgages are up for renewal in 2025, home owners are likely to face inflation with respect to...

Interest rate announcements for 2025

Posted On Dec 30, 2024

Policy interest rate announcement dates by Bank of CanadaThe scheduled dates for the interest rate announcements for 2025 are as follows:Wednesday, January 29Wednesday, March 12Wednesday, April 16Wednesday, June 4Wednesday, July 30Wednesday,...