Newsletters

December 2016

The Bank of Canada is holding its benchmark interest rate at 0.5 per cent

Mortgage brokers in KelownaOTTAWA — The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as it sees the stronger world economy continuing to face “undiminished” uncertainty.  In making the scheduled announcement Wednesday, the central bank said its decision….

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November 2016

The effects of the Mortgage Stress Test

On October 17th, new housing policies were announced by the federal government and they have left many Canadians unclear about how the changes have affected them….

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October 2016

How you can save by switching to bi-weekly payments

Kelowna mortgage brokerOne way of saving hundreds of dollars on your mortgage is by switching your payments from monthly to bi-weekly. The bi-weekly payment plan is a common method of mortgage acceleration in which half of the…

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August 2016

Making your home more energy-efficient could mean more money in your pocket

Mortgage Brokers in KelownaEnergy-efficient homes can increase comfort and promote healthier living, while reducing greenhouse gas emissions and lowering home expenses.
Canada Mortgage and Housing Corporation (CMHC) is upgrading…

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June 2016

Strategies for house hunting during peak home-buying season

Kelwona Mortgage brokersAs March turns into April, the Canadian real estate market can catch spring fever. First-time homebuyers face intrinsic challenges when it comes to house-hunting during peak home-buying season. There’s plenty of competition…

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May 2016

Michael Campbell: Canada’s Residential real estate market

2016-05-newsletterThe following is an excerpt of the Economic Update for Q2 2016 released by VERICO’s Economic Consultant Michael Campbell.
At last count I’ve seen or heard 2,463 warnings since 2012 about
the coming collapse in Vancouver and Toronto’s housing markets.

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April 2016

Federal Budget Highlights for 2016 – 2017

2016-04-newsletter
On March 22 some of the highlights of the federal budget were tabled Tuesday by Liberal Finance Minister Bill Morneau:

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March 2016

Better days ahead for the dollar?
Kelowna Mortgage BrokerA number of economists are reporting that the Canadian dollar’s slip has ended and will likely end the year at a higher mark than it is today.
CIBC World Markets reports “With Canadian monetary policy taking a backseat to fiscal stimulus, Fed rate hikes being delayed until later

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February 2016

What’s coming for Canada’s economy
Kelowna based mortgage brokersThis month, VERICO economist Michael Campbell gave us an overview into the current state of the Canadian economy and what you should be aware of.
Below is an except from Michael’s report.
“After continually underestimating the impact of falling…

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January 2016

How you will be affected by new downpayment rules
2016-01-smIf buying a home is on your list of to dos for 2016, then you may be affected by the new downpayment requirement rules announced by Finance Minister Bill Morneau.
As of February 2016, you will need to have 10% downpayment…

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December 2015

Taking Control of Your Money in 2016
mortgage broker in KelownaWith talk about the climbing real estate prices, a recovering global economy keeping investment analysts cautious and the decline in oil prices, it is challenging for the average…

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November 2015

How to do a Reno when you’ve maxed out on your down payment.
Kelowna residential mortgage brokerIf you are in the market to buy a new home – don’t overlook that fixer upper!
For many first time home buyers, they face the duel challenge of not having a big down payment and higher home prices. Often, the only homes that younger buyers can afford are ones….

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September 2015

Should you switch to a variable mortgage?

Kelowna mortgage brokerThe Bank of Canada cut its over night rate from 0.75% to 0.5% on July 15 making for even more attractive mortgage rates.
Experts are predicting that this may further stimulate the real estate market with more consumers being able to qualify for a mortgage.

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August 2015

Reverse Mortgages in Canada– Good or Bad? You Might Be Surprised

Kelowna mortgage brokerDo you know there is only 1 reverse mortgage provider in all of Canada?
Do you know they became a schedule 1 bank in late 2009?
Do you know how much the program has evolved and improved?
With nearly 30% of the Canadian Population in retirement…

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June 2015

Dreaming of a new fire pit? A deep soaker tub? Talk to me!

kelowna Mortgage brokerWith summer on its way, lots of families have renovations on their minds. Did you know that home buyers can apply for a Purchase Plus Improvement Mortgage and get access to funds for renovations?

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February 2015

Lower Rates to Boost Buyer Confidence

kelowna Mortgage brokerA major Canadian bank has lowered its five-year fixed mortgage rate – and others are expected to follow suit – but some agents believe that won’t have much of an impact on how the housing market performs in 2015. “I don’t believe a quarter-point will make a significant difference,” says Justin Kua, a real estate agent in Toronto.

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Oct 2014

Big Bank Predicts Rate Hike

kelowna Mortgage brokerThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate.

“Firming price pressures and strengthening labour markets are consistent with…

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Sept 2014

Happy Labour Day!!

kelowna Mortgage brokerLabour Day in Canada is celebrated on the first Monday of September and it is a federal statutory holiday. It is also observed in the United States on the same day. However, many other countries celebrate Labour Day on May 1st.

This holiday officially celebrates workers and the labour union movement…

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August 2014

Fun Outdoor Activities to Do in British Columbia

kelowna Mortgage brokerBritish Columbia is a land of active vacations, with options to suit everyone from reluctant weekend warriors to hard-core athletes.

1. Camping – BC boasts a huge variety of camping facilities: 7 national parks, almost 900 provincial parks and protected areas, more than 1,200 recreation sites, and hundreds

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July 2014

7 Ways to Save Money

kelowna Mortgage brokerMany Canadian families are working hard to save money and reduce debt. By saving modest amounts, however, you can reap big rewards over time. Here are easy ways you can save $100 or more this year.

1. Plug into Bargain Electricity
Are your electricity bills excessive? Maybe you’re using too much power at peak hours. For instance, try running your dishwasher at night, rather than during the day…

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June 2014

Tips to Consider Before Buying a Home

kelowna Mortgage brokerYou are about to invest in your most valuable asset. Below are our top 8 recommendations to make you more confident as you start your home buying journey.

  1. 1.Your Credit Rating Getting your finances in order is probably the most important step you should take. You must know exactly what your credit reports say about your financial history before you apply for a mortgage, because the reports play an important role in the mortgage approval process and in determining the interest rate and other loan terms…

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February 2014

Last Minute RRSP Contribution Tips

kelowna Mortgage broker(NC) In a perfect world, investors would contribute to Registered Retirement Savings Plans on a regular basis to make sure enough money is in place when they need it. But with family, jobs, bills and unexpected expenses popping up, sometimes investing gets put on the back burner.

“Many investors are well aware of the importance of financial stability during retirement,” says Don Reed, president and CEO of Franklin…

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October 2012

House Hunting: Finding the Right Fit for You

mortgages in Kelowna, BCWith so many choices and variables, how do you find the perfect fit? Before you start your search, it’s a good idea to narrow down the playing field by looking at what would fit you best. Here’s where to look:

Look Inside
What do you already own that your new home would need to accommodate?…

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August 2012

The Renovation Contract

mortgage broker - Kelowna, BCOne of the major reasons for disputes over renovation work is the lack of a contract. The best way to avoid this is to draw up an agreement describing the work to be done and the cost of this work. This contract becomes a legal document, binding both parties once they have signed it. Don’t sign anything until you are fully satisfied it describes exactly what you want and contains everything you have agreed upon….

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July 2012

How to Find a Builder or Realtor?

mortgage broker - Kelowna, BCBuilder or Realtor
Often, when buying a new home, you’ll deal with a builder/contractor. If you’re buying a resale home, however, you’ll probably encounter a realtor. Below are some tips and advice for finding a reputable realtor or builder.
..

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May 2012

Financial House Cleaning for Couples

mortgage broker in kelowna, BC(NC)—Now that the tax season is over, how did you and your significant other do? Were you faced with tax bills or did you receive a refund? If you both had a less than spectacular financial year, don’t be discouraged. Mid-year is a great time to review your financial situation and resolve to make changes now to ensure you’re in a better position next year. Here are some ideas that can help you both max out on the good and reduce the bad…

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April 2012

Understanding Your Mortgage Options

mortgages in kelowna, BCCongratulations! You’ve decided to begin your search for a new home, or perhaps you’ve already found the home of your dreams and are ready to make an offer. It’s now time to consider your mortgage options. But with so many different choices available, how can you select the right kind of mortgage for your needs? To help you make an informed

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October 2011

The Financial Implications of Living Longer

mortgages in kelowna, BCIt’s a fact that Canadians are living longer today than ever before and while this is great because we’ll have more time to spend with loved ones—it’s a bit alarming from a finance and savings perspective.

Data suggests that retirement years have stretched from 13 to 20 years — or a 54% increase. This means that a proportionate…
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September 2011

How to Save on your Fall Home Improvement Projects

mortgages in kelowna(NC)— The Government of Canada has renewed the ecoEnergy Retrofit — Homes Program from June 6, 2011 until March 31, 2012. What does this mean? Homeowners tackling renovations may be eligible to receive grants of up to $5,000 when incorporating more energy-efficient solutions

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August 2011

How to be Mortgage Free Faster

mortgages in kelownaThink your house is comfortable now? Imagine walking through the door knowing that you never need to make a mortgage payment again. In addition to the satisfaction of being mortgage free, paying off your mortgage faster can save you money by reducing the interest you pay...

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July 2011

Parents are the best financial role models for kids

When thinking about those important lessons you must pass on to your children, parents don’t often consider money management skills. But lessons about the value of a dollar, saving and investing shouldn’t be left to chance. Children’s attitudes about money develop early in life…

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June 2011

Add money to your wallet and enjoyment to your life

We all love to save money, but most of us don’t enjoy penny–pinching or sacrificing to do so. Luckily, there are many ways to generate significant savings…while actually increasing the enjoyment in our homes and lifestyles…

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April 2011

Taking the edge off the formal living room: how to make it comfortable and luxurious

There’s no need to drain one’s bank account or energy reserves to create a living room that provides the kind of livable luxury we could all use. Louis XVI formality and matchy-matchy…

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February 2011

New Mortgage Rules Introduced in 2011

mortgage newsletter JanuaryOn January 17, 2011, Minister of Finance, Jim Flaherty, announced prudent adjustments to the rules for government-backed insured mortgages to support the long-term stability of Canada’s housing market and support...

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January 2011

Budgeting for Interest Rate Hikes

mortgage newsletter JanuaryInterest rates, near historic lows for much of the past two years, are widely expected to increase through the latter half of 2011. The cost of carrying debt, including mortgages, lines of credit and…

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December 2010

Goal Setting Keeps Resolutions on Track

mortgage newsletter DecemberJanuary is a popular time of year to set resolutions for physical fitness, personal finance or new career directions. But with the declaration of failed resolutions in February…

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October 2010

Down Payment Options and Pre-Approvals

mortgage newsletterAs a first-time home buyer, you probably have many questions, including the right down payment amount and whether you’ll be approved for a mortgage…

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September 2010

10 Worst First-Time Homebuyer Mistakes

mortgage newsletter SeptAre you gearing up to buy your first place? Arm yourself with these tips to get the most out of your purchase and avoid making 10 of the most costly mistakes that could put a hold on that sold sign…

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August 2010

Dealing with Mortgage Payment Difficulties

mortgage newsletter JanuaryWhen unforeseen financial circumstances impact your ability to make regular mortgage payments, it’s important for you to take quick action. With early intervention, cooperation, and a well executed plan you can work together with your mortgage professional…
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July 2010

Second Mortgage Loans vs. Home Equity Loans

mortgage newsletter JanuaryIt’s not surprising that some homeowners confuse the terms “second mortgage” and “home equity loan.” After all, a second mortgage is a type of home equity loan. But more often than not, home equity loan is used to describe a home equity line of credit, or HELOC. If you want to take advantage of the equity that you have built up in your home, you will need to…
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June 2010

House Hunting: Finding the Right Fit for You

mortgage newsletter JanuaryWith so many choices and variables, how do you find the perfect fit? Before you start your search, it’s a good idea to narrow down the playing field by looking at what would fit you best. Here’s where to look:
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March 2010

Establishing Credit History

mortgage newsletter JanuaryIn order to purchase a home, you must have an established credit history.
Each time you pay a bill (for your credit card or for a monthly service such as your telephone or electricity); you are establishing…
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February 2010

A Shift in First-Time Homebuyer Demographic

mortgage newsletter KelownaThe demographics of the typical first-time homebuyer are changing these days.
More and more women today can afford to purchase a property on their own to build up valuable equity and are no longer waiting to find a life partner before …
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January 2010

Ice-Proof Your Attic (and Keep Winter Out of Your Home!)

mortgage newsletter JanuaryIf you’re like most people, you probably don’t spend much time in the attic.
In fact, the vast majority of Canadians go up to their attics only when dealing with a leaky roof or “animal intruders” like bats or squirrels…
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October 2009

House Hunting: Finding the Right Fit for You

mortgage newsletter OctoberWith so many choices and variables, how do you find the perfect fit? Before you start your search, it’s a good idea to narrow down the playing field by looking at what would fit you best. Here’s where to look:…
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September 2009

Finding, Fixing and Flipping Homes

Flipping houses is a hot topic these days. Here are 10 tips to help you find the perfect flip from HGTV’s The Big Flip renovator’s John Stassen and Randy Mackay.

1. Find properties that are diamonds in the rough – homes that are rundown in comparison to those around them – as these…

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August 2009

The Renovation Contract

Mortgage news - KelownaOne of the major reasons for disputes over renovation work is the lack of a contract. The best way to avoid this is to draw up an agreement describing the work to be done and the cost of this work. This contract…

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July 2009

HOW TO FIND A BUILDER OR REALTER?

Kelowna mortgage newsOften, when buying a new home, you’ll deal with a builder/contractor. If you’re buying a resale home, however, you’ll probably encounter a realtor. Below are some tips and advice for finding a reputable realtor or builder..
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June 2009

FIVE TIPS ON SELLING IN A SLOW MARKET

mortgages Kelowna - sellingSelling a house in a slow real estate market can be difficult. In times like these, it’s not enough to simply list your home and wait; you actually have to sell your home. Here are five tips…
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