According to a recent RBC Home Ownership survey, 65 per cent of Canadian homeowners are worried about mortgage rate increases, and 56 per cent admit that their mortgage is higher than they expected. “Flexible payment options can help take some of the guesswork out of interest rates increases,” says Marcia Moff at, RBC head of home equity financing. “Speaking with a mortgage specialist and...[ read more ]
Vancouver housing market springs back to life. After a prolonged slide in sales and prices, the Vancouver housing market has swung from “buyers” status to “balanced”, according to a new report from BMO Economics on Canada’s major housing markets. The report titled “Canadian Housing Update: Tale of Four Cities” examines the state of the housing markets in Canada’s four largest cities: Vancouver, Calgary, Montreal...[ read more ]
By Calum Ross Year over year, perhaps the most contested issue in the mortgage market is the age-old decision of choosing between a fixed and variable rate mortgage. Hundreds of thousands of dollars of personal financial research dollars has been poured into making the case and giving the final decisive pearl of wisdom to consumers. Here is some wisdom that will work in any...[ read more ]
By Susan M Boyce Consistently ranked among the world’s favourite places to live, Metro Vancouver is a metropolitan centre many aspire to emulate. Blessed with a temperate climate, trend-setting architecture, and abundant outdoor recreation, Vancouver just keeps getting better. “As a city, we’re becoming ever more refined — ‘shinier’ and more truly a cosmopolitan city of the world,” says Tracie McTavish, president of Rennie Marketing Systems....[ read more ]
Four out of 10 Canadians planning to enter the housing market over the next two years will be first-time homebuyers, according to the 20th annual RBC Home Ownership Poll. The poll found that the majority of Canadians are taking a wait-and-see approach to home purchases, with 15 per cent likely to buy in the next two years, down from 27 per cent in 2012. “The more...[ read more ]
By Cameron McNeill, Owner of MAC Marketing Solutions April 1st, 2013 marked the official switch back to GST/PST away from HST. For most industries, the change is immediate and you should have already seen a difference in your bills and receipts. For new housing however, it is a bit more complicated and can be confusing. Here are the basics: If you are...[ read more ]
By Kevin Lutz, RBC Regional Sales Manager, Residential Mortgages In no particular order, what will be important to you in the coming year are the new mortgage guidelines, the transition from HST back to GST/PST on April 1, housing price trends and interest rates. NEW MORTGAGE GUIDELINES COULD AFFECT YOU There is no doubt that the new B-20 mortgage guidelines introduced by...[ read more ]
By Cameron McNeill The B.C. First-Time New Home Buyers’ Bonus helps make owning your first home a little more affordable. If you’re a first-time homebuyer in the market for a newly built or substantially renovated home, you can get up to $10,000 back from the B.C. government through a onetime income tax credit. But you will have to act fast; this bonus is only applicable on eligible new home purchases...[ read more ]
Source: New Condo Guide By Wayne Karl Mortgage interest rates, still at historical lows and expected to remain so well into this new year, represent a window of opportunity for those looking to buy a home. The mortgage industry is ultra-competitive, lenders often introduce new products and otherwise there are plenty of options for borrowers. If you could lock in...[ read more ]
Do you need to bridge the financing gap between the purchase of your new Firma residence and the sale of your current home? To help you with this challenge, there is a special short-term loan opportunity in place with Community Savings Credit Union. As part of the bridge financing package, you can choose from any of their current promotional mortgage rates to help with the purchase...[ read more ]
