Please see details below for the unified strategy for home buyers financing now till Sept 30th 2020. If you have any questions or clients who need assistance, I am here to help.   INSURED/INSURABLE & UNISURABLE PURCHASE (30yr/$1M+) DEALS – unified strategy from insurers:   In light of the current environment related to COVID-19, we […]

What you need to know about how fixed and variable rates change differently Over the past few weeks we have seen changes in the fixed and variable mortgage rates.  Every time I receive a  call from someone about the rate changes the same discussion occurs.  So here is what you need to  know. Fixed and […]

A change to the benchmark by the Federal Government means a mortgage rule change effective March 21st 2020.  The reduction in the benchmark from 5.19% to 5.04% will allow everyone to qualify for more on a purchase , refinance or switch of their mortgage. The rule change for high ratio borrowers that was to take […]

If you are experiencing difficulty with your mortgage payments due to self isolation / quarantined and/or having been laid off, please know there are options available and lenders offering payment relief. Many lenders have the ability to allow you to SKIP A PAYMENT, or HOLD A PAYMENT. As the world (including lenders) are navigating thru […]

In February 2020 the Federal government announced a change with new mortgage rules for high ratio borrowers.  High ratio borrowers are those with less than 20% down payment.  This change will increase buying power.  The new rules take effect April 6,2020. I won’t get into too much detail on the new qualifying equation. Feel free […]

With all the changes this past week you may be asking what the heck is happening with interest rates? Before we get into the mud lets take a look at the landscape. Mortgage financing is offered with options on rates and terms.  There are fixed terms which come with a rate that stays the same […]

The cost of waiting to buy.  As with a purchase of most items prices are subject to change.  If you are buying groceries that change can be a few dollars.  For the purchase of real estate the cost of waiting to buy can be significant up or down depending on the market conditions. According the […]

With homeowners carrying higher balances on their lines of credit, lowering the cost of a line of credit is becoming more important.  The high cost of living in many parts of British Columbia is forcing some homeowners to use their line of credit to cover expenses or pay off their credit card each month.  The […]

Beware bait and switch by your bank. With the mortgage rule changes imposed in 2017 and 2018 the price strategy for interest rates has become more complex. The rule changes affected the ability for home buyers and owners to qualify for their mortgage and increased the rates.  However, most people don’t realize other rules on […]

Working with your Independent Mortgage Planner can save you thousands of dollars by making the most of your variable rate mortgage in a shifting market. In the past year we have seen an increase in the prime lending rate by 1%.   For those home owners with variable rate mortgages who secured a low discount, […]