8 Oct

Big Changes for ALL Mortgage Holders: More Competition & Better Savings!

Latest News

Posted by: Adam Sale

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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16 Sep

Breaking News: Massive Policy Change for First-Time Home Buyers

General

Posted by: Adam Sale

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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10 Sep

Fixed Rate Mortgage or a Variable Rate Mortgage?

General

Posted by: Adam Sale

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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17 Jul

Did you know housing PULLS an Economy out of a recession?

General

Posted by: Adam Sale

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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24 May

Vancouver Real-Estate Prices: Up or Down? This graph holds the answers

General

Posted by: Adam Sale

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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22 Apr

Receive $40,000 towards Suite Renovations – BC Housing SSIP Program

Latest News

Posted by: Adam Sale

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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28 Mar

(PROPOSED) Stress-Test 2.0

General

Posted by: Adam Sale

(Proposed) New Changes to Lending Regulations OSFI (the banks’ regulator) proposed a new maximum borrowing limit of 4.5x borrowers’ annual income. This proposed change will LIKELY come into effect in the first quarter of 2025. We do not have an official launch date, or confirmation of whether or not this will become the new rule. […]

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2 Mar

CANCELLED – First-Time Homebuyer Incentive

General

Posted by: Adam Sale

Will there EVER be a First-Time Home Buyer Program that WORKS?! Because this last program (CMHC’s) “The First-Time Home Buyer Incentive Program” is/was horrendous! Why is/was it so bad? Too restrictive, didn’t help homebuyers with qualifying, and little benefit. This program is/was designed for First time home buyers who ALREADY qualified for the mortgage. Only […]

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25 Feb

Simple way to forecast the inflation rate for 2024

General

Posted by: Adam Sale

Forecasting the Inflation Rate for 2024 Here is a simple way to forecast the inflation rate for 2024 – conservatively, of course. First, grab the CPI data from Rateinflation.com and paste it into an excel sheet. Then, look for some patterns in these numbers. Notice how the CPI numbers change from one month to the […]

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