To help families start planning and saving early for their children’s education after high school, the Government of British Columbia announced a new $1,200 BC Training and Education Savings Grant. When a B.C. resident child turns six years old, the Province of British Columbia will put $1,200 into the child’s  Registered Education Savings Plan.  For […]

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The global economy continues to expand broadly as expected, but its dynamic has moderated. In the United States, […]

In April 2008 (only months before the credit crunch) an article written by Keith Woolhouse, Special to the Star, addressed the age old question “variable or fixed?” Since then borrowers with discounted variable rate mortgages have saved thousands of dollars in interest.   Woolhouse compares the two types of borrowers; the fixed rate camp, seeking security […]

One of the biggest challenges faced by home buyers and home owners is how to determine the value of a home – whether your own or the one you want to buy.  When you are a home buyer you usually rely on the price listed, you refer to your realtor for guidance and you may […]

Buying a new car or your first home, what makes the most sense? We all need a roof over our head and some means of transportation to get us to and from work.  Sometimes it can be a tough choice when there is only so much money.  “Do we buy the new car or our […]

Canada Mortgage and Housing Corp. is putting a cap on the amount of mortgage-backed securities sold by banks that it is willing to guarantee. A spokesperson with CMHC confirmed media reports Monday that the national housing agency will, effective immediately, limit banks and other mortgage lenders to $350 million worth of new mortgage-backed securities per […]

Are you thinking of getting into a leasehold strata property? Metro Vancouver has hundreds of leasehold townhouses and condos. Some of them offer an attractive lifestyle because of their central location and stunning views. You don’t own the land, so a leasehold strata property costs less than a freehold one. Compared to renting, getting into […]

When buying a home in British Columbia you have various options including a house, condominium or town home and you also have the option of buying leasehold property in certain locations throughout the province.  There are also different kinds of leases such as private, native and crown corporation (government).  In each case they are treated […]

With the recent shift in shorter term mortgage rates a second look at the 10 year fixed term as an inflation hedge mortgage strategy may be a timely. For those home owners with some equity in their home who may want to consolidate debt or refinance to take out equity and buy a second home […]

When you are new to Canada and establishing credit, deciding on the best way to create a good credit history can be difficult. You need a good credit rating in Canada if you are planning to rent or buy a home, buy a car or borrow money. By taking some important first steps to get […]