Each Office Independently Owned & Operated
Posted by: Adam Sale
The state of emergency is being lifted end of day on June 23rd and I am curious how the market will react I’ve spoke with several clients who feel the need to put in an offer on a property before this date, and then other clients waiting until after this date because they feel there will […]
Read MorePosted by: Adam Sale
As I’m sure you’ve heard, CMHC is changing their lending guidelines on high-ratio mortgages as of July 1st. These changes will have a significant impact on homebuyers wishing to use CMHC’s high-ratio mortgage product. Thankfully the other insurers stated they have no intentions on aligning their high-ratio mortgage products with CMHC’s guidelines. Canada has 3 […]
Read MorePosted by: Adam Sale
Did you know many non-residents are actually exempt from the foreign buyers’ tax? That’s right! Non-residents who’ve applied for their permanent residency through the BC Provincial Nominee Program and have received confirmation, are exempt from paying the foreign buyers tax. This is a one-time exemption, and the property must be used as a principal residence. The BC Provincial Nominee […]
Read MorePosted by: Adam Sale
Reduced Stress-Test As you may have heard, CMHC has reduced the stress-test today from 5.04% to 4.94%. This reduction of 0.10% will help to increase your client’s purchasing power. For example, if a client is earning 100k (factoring in average condo fees, property taxes and heat costs) they will now qualify for a place roughly […]
Read MorePosted by: Adam Sale
Mortgage Deferral Strategy Deferring your mortgage is not an easy choice to make. The thought of pausing mortgage payments can feel like your finances are going in reverse. What does deferring your mortgage payments really mean? Does the interest stop accruing? No. Each lender has their own definition of what deferring a mortgage payment means. […]
Read MorePosted by: Adam Sale
Last week we saw several changes in the mortgage industry that will directly affect our Real Estate industry. Here are some need to knows: Stress-Test The stress-test changes slated for April 6th are suspended. The posted mortgage rate, published weekly by the Bank of Canada, will remain the qualifying mortgage rate. It is currently 5.19%, […]
Read MorePosted by: Adam Sale
Fixed Rate or Variable Rate? We are approaching interesting times. The world economy is slowing down due to heightened tensions with the coronavirus, oil prices, blockades etc etc, the list goes on. One positive spin on this whole fiasco is cheaper mortgage rates, Yay! When an economy is contracting like this the government steps in […]
Read MorePosted by: Adam Sale
Canada cuts interest rate by ½ a point, bond rates keep falling and Mortgages keep getting cheaper!! It has been a rough couple of weeks in the stock market, but this is great news for the real estate industry. As bond rates keep dropping, we are seeing ridiculously cheap mortgage rates. Right now rates are […]
Read MorePosted by: Adam Sale
Do you want the Lowest Interest Rate? Or the Cheapest Mortgage? If you’re searching for the perfect mortgage, the questions you should be asking yourself are: “Do I want the lowest interest rate? Or do I want the cheapest mortgage?” You’re probably thinking, doesn’t the lowest interest rate mean I’m getting the cheapest mortgage? Not […]
Read MorePosted by: Adam Sale
Mortgage rates are dropping! In case you aren’t aware, there is an unprecedented amount of doom & gloom in the news, but amidst all this chaos is mortgage rates are getting cheaper. As you may know, the stock market has been declining since Monday. While this may not be good for our investments (ugh!), this […]
Read More