You’ve heard the headlines: “The Bank of Canada adjusts its overnight rate!” Many Canadians believe these announcements dictate all mortgage rates. But here’s the surprise—fixed mortgage rates don’t wait for the Bank of Canada. In fact, they often move in advance of any official decision. Understanding why this happens—and how government bonds come into play—could […]
Many Canadians assume that when the Bank of Canada (BoC) adjusts its overnight rate, fixed mortgage rates will follow suit. After all, if the BoC lowers rates, it should make borrowing cheaper, right? In reality, the connection isn’t quite so direct for fixed mortgage rates. Here’s why. The BoC Rate and Variable Mortgages The Bank […]
So, you’ve found “that” home. You know the one – the charming yet slightly outdated gem with a kitchen straight out of the ’70s, pink bathroom fixtures that scream retro, and shag carpet that could use a serious update. At first glance, you might be tempted to run for the hills, but hold on a […]
In the dynamic landscape of Canada’s real estate market, government regulation plays a pivotal role in shaping the experience of home buyers. Nowhere is this more evident than in BC, where the interplay between regulatory measures and market dynamics profoundly influences affordability and accessibility to homeownership. So, what does this look like? Affordability Constraints: Government […]
As we all slowly make our way out of the holiday season, I would like to take this opportunity to welcome you back to my blog series. In my last post, we provided steps in understanding some of the “partner-factors” in purchasing and closing on a new home close to the holidays. While there are […]
October 17 of 2017, our Canadian Government, under the hand of OSFI, made an announcement that had many stakeholders in the Mortgage Industry shaking their heads. We are now 2 weeks into the new B-20 guidelines that will, inevitably, shape the Mortgage market and lending climate for many Canadians looking to buy, refinance or even […]
Welcome to another episode of Mortgage Mechanics. We’re here in the beautiful ski Resort of Silver Star Mountain on opening day where the powder is fresh and the air is clear. Have you ever wanted to own your own vacation home but didn’t know where to start? Owning a vacation home is a dream for […]
It’s one of those times in everyone’s career where they ask themselves, “Why am I doing what I’m doing? Does anyone appreciate or understand my role and why it’s important to them?” I don’t think anyone is really immune to these feelings of self-worth and acceptance. We all try to offer something of substance to […]