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Don’t let rates fool you!

5 YR FIXED FRENZY!
 BMO recently came out with the “first” sub 3% 5 yr fixed rate. The problem with this is BMO’s product is restricted, but they fail to promote the fine print. There are other industry incumbents who advertise similar products, but the important thing here is to be aware of what you’re […]

Feb 2014 – what’s the best mortgage rate?

WHAT’S THE BEST MORTGAGE RATE? There has been lots of news around fixed rates lately as they have been dropping. Bank’s are offering various fixed rate specials as the spring market approaches with the hope of winning over new business. The problem, however, is that the variable rate is better…at least for you. There is […]

Rates Remain Low – May 2013

BANK OF CANADA Stephen Poloz was appointed Governor of the Bank of Canada to succeed Mark Carney who is leaving June 1, 2013. The BOC has left the overnight rate unchanged for almost 3 years which has been good news for variable rate mortgage holders who signed up for deeply discounted products relative to the […]

Mortgage Rates: A lost perspective

WHAT DOES A RATE REALLY MEAN? Has the rate war gone too far? It would appear so. This is very important as we approach the spring market and lenders start flogging “special” rates. Many mortgage holders have lost sight of the more important aspects of a mortgage because of the blinding effect that an interest […]

Where are prices going? What are interest rates doing?

HOME SALES SPIRAL DOWNWARDS, INTEREST RATES GOING NOWHERE! Generally speaking, the Vancouver real estate market is a buyer’s market. The numbers say so. Activity is down and prices are slipping. BUT, when we talk with buyers they’re not having much luck.  It seems what is happening at the moment is that seller’s who are not […]

January 2013 Rate Update

WHAT’S IN STORE FOR REAL ESTATE & MORTGAGES IN 2013? First off, happy New Year and thanks for your continued support! It has enabled us to keep our very small company as one of the leading Canadian firms alongside the large organizations. We saw many government changes in the mortgage industry in 2012 with the […]

Dec 2012 – What’s going on with real estate & mortgages?

WHAT’S GOING ON WITH REAL ESTATE & MORTGAGES? We recently attended the CAMMP conference for CDN mortgage professionals and were fortunate to listen to the insights or many high profile economists and industry experts.  The general consensus is not surprising – A) Real estate market is cooling, B) mortgage lending has tightened up substantially, and […]

Nov 2012 – Obama & Rule Changes

OBAMA & MORTGAGE RATES Following Obama’s presidential victory, bond yields dropped with markets predicting a slower economic recovery and more stimulus.  Bond yields dictate fixed mortgage rates, therefore, upward pressure still remains low. With the impending US “fiscal cliff” there is enormous economic uncertainty and the outlook remains bleak. This reinforces the Bank of Canada’s […]

Oct 2012 Rate Update

RATES No material update. The low rate environment will continue as the economic picture remains bleak.  Fixed rates, in general, are still better than variable rates depending on your mortgage & property goals. IMPORTANT! One thing, however, that is a recurring issue when people are mortgage shopping is that people become too rate focussed. Rates […]

Sep 2012 Rate Update

RATES Once again rates have been left unchanged as predicted.  Generally, fixed rates still outperform variable; however, are not the best option for everyone. As per our last update, if you hold a variable mortgage and you have a deep discount and a long time remaining in your term, don’t do anything. If you have […]