As we move further into summer, the smokey haze has become a common backdrop invading the scenic blue skies over the last few years. As of August 14, 2018 more than 600 active fires were burning throughout BC, with evacuation orders and alerts impacting hundreds of properties. From a real estate perspective, it’s important f...
Vancouver, BC – March 14, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 6,206 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in February, a 5.7 per cent decrease from the same period last year. The average MLS® residential price in BC was $748,327, up 8.8 per cen...
Two major Canadian banks, RBC and TD and more recently, CIBC, increased their fixed-rate mortgage rates on Thursday. This increases RBC’s posted five-year fixed mortgage rate from 4.99% to 5.14% and their special offer rate for a five-year fixed with a 25-year amortization from 3.39% to 3.54%. Future increases in these bank rates, the Bank of Canad...
Princeton’s hot real estate market continued for 2017, driven mostly from a frantic lower mainland that’s literally bursting at the seams and spilling into BC’s South interior.
It’s been amazing to see a market in the lower mainland that was so strong and positive in growth, that has now turned into a negative force of nature a...
Brenda Upton from Dominion Lending Centres breaks down the new changes to the mortgage space:
Come Jan. 1, 2018, Canadians getting, renewing or refinancing a mortgage (Including non insured mortgages) must now prove that they would be able to cope with interest rates substantially higher than their contract rate by using a new minimum qualifying rat...
Although going through the pre-approval process is important, the actual term ‘pre-approval’ is often misunderstood.
An important point to be clear on is that while you may be pre-approved for a certain mortgage amount, there are several variables that can derail a final approval once you write an offer on a property. As such it is imperative that o...
