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,...

Holiday Season = Gifting Season. Gifting a Down Payment, Things to Consider

Posted On Dec 23, 2024

Disclosing the gift in a proper manner is important to your broker in order to prevent potential issues that could arise later. Non disclosure or improper disclosures could lead to your application being delayed, or denied. Also, you could get into...

CMHC's Fall rental market update

Posted On Dec 19, 2024

Key points from CMHC's fall 2024 rental market report:-Vacancy rate in Victoria, BC hit 2.6% highest since 2013-Rental affordability still remains a challenge besides a rental growth slowdown.rental units supply increased primarily due to newer...

1 million to 1.5 million and 30 year amortization changes

Posted On Dec 16, 2024

Increased insured mortgage capThe maximum price for insured mortgages has increased from $1 million to $1.5 million, opening the door for buyers in higher-priced markets like Toronto and Vancouver to qualify for high loan-to-value mortgage insurance...