Financial videos to keep you informed on market news and mortgage products.
Mortgage tips, strategies and industry news.
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August 11, 2022 – Second Mortgages are Gaining Popularity, What is a 2nd Mortgage?
Over the last 2 months I’ve had several conversations with homeowners interested in finding alternative ways to unlocking their home equity to either purchase a rental property, or consolidate debts.
When rates were significantly lower last year it made sense for homeowners to refinance their property, take out equity, and take advantage of a lower rate. But now that fixed rates are at 4.59% or greater, it doesn’t make financial sense to refinance a property and pay the penalty for breaking a mortgage, and also end up paying a much higher mortgage payment.
June 29, 2022 – Renewing You Mortgage? How to Get the Best Mortgage Possible
Did you know at your renewal period you can shop for a new mortgage? That’s right!
Before you sign your mortgage renewal letter from your bank do your due diligence and see what other lenders are offering. Banks generally provide their clients the best rates in the first-term to win the clients business, but in the 2nd, 3rd, 4th & 5th terms they know their clients don’t want to go through the process of switching lenders so they will jack up the interest rates.
May 12, 2022 – How to Spot the Opportunity in Vancouver’s Housing Market
In this video I’ll explain how the average buyer is going to miss the bottom of the market because they are going to be focused on the wrong data. Summary:
• Inflation & Rising Interest rates are the main cause of the shift in the market.
• We are entering a period where buyers have a “fear of the unknown” the last time we experienced a similar fear was in February 2020 – July 2020
• Buyer’s watching the market are going to miss the bottom of the market because they will be focused on changes of the listing price instead of actual sales price
• Once inflation is under control, certainty will return to the market and an increase in demand will follow
• Housing supply had a record year in 2021, but it is expected to decrease in 2022 & 2023 • New entrants to BC had a record year in 2021
• New BC Permanent Residents is expected to increase from 67k/yr to 75k/yr for 2022-2024
April 16, 2022 – Bank of Canada Rate Hike +0.5%
RRSP Benefit Strategy – First Time Home Buyers
This simple strategy can help first time home-buyers increase their down-payment by thousands of dollars! First-Time Home Buyers are allowed to withdraw $35,000 from their RRSP without paying any tax. In this video I’ll show you how transferring money from other accounts to maximize your RRSP to take advantage of this benefit can create a massive tax refund!
Do You want the Lowest interest rate or the Cheapest mortgage?
How will You Benefit from Canada’s stress-test changes?
3-Categories of Mortgages offered by Prime Lenders
Its RRSP Season again! Here’s a few need-to-knows in regards to RRSPs: First-Time Home Buyer program
Sub-Prime Mortgages Vs Prime Mortgages (Pt1)
Sub-Prime Mortgages Vs Prime Mortgages (Pt2)