real estate tips

Bank of Canada Rate Announcement – June 7th 2023

The Bank of Canada today increased its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is also continuing its policy of quantitative tightening.

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Bank of Canada Rate Announcement Apr 12th, 2023

The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening.

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The Best Time to Sell: The Week of April 16-22

Wondering when the best time to sell is? “Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in 2023 is approaching quickly. The week of April 16-22 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year.”

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Mortgage Options At Renewal

It’s a commonly held belief that if you’ve made your mortgage payments on time throughout the entirety of your mortgage term, that the lender is somehow obligated to renew your mortgage. 

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BCREA – Stats Release – Signs of Recovery Heading into Spring

Provincial Housing Market Showing Signs of Recovery Heading into Spring…“While activity across provincial housing markets remains well below normal,” said BCREA Chief Economist Brendon Ogmundson. “There are encouraging signs that the market is balancing out. Home sales rose month-over-month in most markets, and prices appear to be firming up in the face of low supply.”

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Bank of Canada Rate Announcement Mar 8th, 2023

“In Canada, economic growth came in flat in the fourth quarter of 2022, lower than the Bank projected…Employment growth has been surprisingly strong, the unemployment rate remains near historic lows, and job vacancies are elevated… Overall, the latest data remains in line with the Bank’s expectation that CPI inflation will come down to around 3% in the middle of this year.”

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Top 5 Checklist: Does Your Home Still Match Your Lifestyle?

Change is inevitable. We change things almost daily, from our wardrobe to our meal choices to the activities we to enjoy on the weekend. But how about where we live and spend most of our time? Your home was the perfect havn when you bought it. But how about now? We’ve listed our 5 key areas that are worth weighing up to check if your home is still right for you…

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Why The Subject Property Matters

When looking to qualify for a mortgage, typically, a lender will want to review four areas of your mortgage application: income, credit, downpayment/equity and the property itself. Assuming you have a great job, excellent credit, and sufficient money in the bank to qualify for a mortgage, if the property you’re looking to purchase isn’t in good condition, if you don’t have a plan, you might get some pushback from the lender.

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BCREA – Economics Now – Canadian Monthly Economic Growth (Q4’2022)

Canadian real GDP declined 0.1 per cent in December, the first monthly decline since January of 2022. The decline in GDP was concentrated among goods-producing industries (-0.6 per cent) while services were flat. Canadian real GDP is now roughly 2.7 per cent above its pre-pandemic, February 2020 level. Preliminary estimates suggest that output in the Canadian economy rose 0.3 per cent in January.

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Parental Leave

Chances are if the title of this article piqued your interest enough to get you here, your family is probably growing. Congratulations! If you’ve thought now is the time to find a new property to accommodate your growing family, but you’re unsure how your parental leave will impact your ability to get a mortgage, you’ve come to the right place!

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