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Posted by: Adam Sale
Your Buying Power Increased by 9%! If you are thinking about purchasing or selling your home in the next year, you need to understand the importance of the upcoming CMHC policy changes. As of December 14, 2024 – First-time homebuyers purchasing with a down-payment less than 20% will see their purchasing power increase by approximately 9.00% due to the […]
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Accelerate Your Net Worth! Now that you own a home, and you’re making regular payments on your mortgage do you have a financial plan to grow your Net Worth efficiently? In this blog, I’ll highlight 3 competing options to help you Accelerate Your Net Worth! Keep in mind, each of these options has a different […]
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Massive Switching Opportunity & Is 2025 the Right time to Buy? The bank’s don’t want you to find out about this.. If you purchased a home, or renewed your mortgage, in 2023 and you have a fixed-rate above +5.70% with at least 2-years left on your mortgage term, you are paying to much. To see if this opportunity applies to your mortgage, […]
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Big Changes for ALL Mortgage Holders: More Competition & Better Savings! Last week Canada’s Banking regulator (OSFI) announced they will be removing the stress-test on ALL mortgage renewals as of November 21, 2024. The stress-test has been the main culprit in hand-cuffing many mortgage holders to their current lender. The old rules require anyone switching mortgage lenders to requalify […]
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Breaking News: Massive Policy Change for First-Time Home Buyers 30-Year Mortgages & $1.5-million Purchases Every so often the federal government makes a massive policy change to influence Canada’s real-estate market. In 2017, the government brought in the stress-test. This essentially threw a wet-blanket on a hot real-estate market. It helped end runaway housing prices, and […]
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Is it better to go with a Fixed Rate Mortgage or a Variable Rate Mortgage? The Bank of Canada’s decreased the Prime Rate for the 3rd time last week, which is re-igniting the question above. Over the past 24-months, the 3-yr fixed-rate has risen in popularity over the 5-yr Variable rate and the 5-yr fixed […]
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Did you know housing PULLS an Economy out of a recession? First, lets quickly recap what a recession is. A recession is defined as declining GDP, and high unemployment. A very simplistic way of thinking about GDP in, a practical sense, is to think of it as a collection of all the small business like […]
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Bank of Canada Decrease’s Policy Rate to 4.75% Bank of Canada’s announcement today reduces the policy rate to 4.75%, down from 5% it has held since July 2023. This change aims to address economic pressures Canadians have been facing due to rising costs and high mortgage payments. This reduction comes at a critical time. Many […]
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Where are BC’s Housing prices going? Up or Down? I believe this graph holds the answers… *Disclaimer* – I am from Vancouver, British Columbia and my bold prediction of double digit price increases is meant for Metro Vancouver Condo’s, NOT Canada as a whole. THIS GRAPH TELLS US.. For every 1-housing unit being created, there are 5 […]
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BC Housing: Secondary Suite Incentive Program I wish I noticed this program sooner, but somehow it slipped through the cracks! Anyways, this seems like a great program for anyone interested in adding a rental suite to their home. BC Housing is running a pilot program encouraging homeowners to build secondary suites/laneway homes by offering a FORGIVABLE loan of […]
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