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...

Bank of Canada reduces policy rate by 50 basis points to 3.25%

Posted On Dec 11, 2024

The BOC cut down the policy rate to 3.25%.Factors that influenced BOC's decision included:Rising unemployment rate to 6.8%Lower economic growth than projected in the 3rd quarterSlowing business investment, inventories and exports. Source: https...

Winter Pre approvals can help you get ahead!

Posted On Dec 03, 2024

 A bright sunshine lies amidst the Canadian freezing winter. You can choose to take advantage of the slower cycle of the real estate industry now. Mortgage brokers; can dedicate higher level of attention towards you without the hot spring season...

Did you know? The differences between Credit cards, Line of Credit, Mortgages and a HELOC.

Posted On Dec 02, 2024

Money can be borrowed through various channels, some having more manageable interest and payment terms as compared to the others.To make an informed choice, be sure to find out what type of lending meets your borrowing needs:1)Do you need a revolving...