by Allison Engst | Jul 11, 2018 | Announcements, Blog, Mortgage
The Bank of Canada today increased its target for the overnight rate to 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent. The Bank expects the global economy to grow by about 3 ¾ per cent in 2018 and 3 ½ per cent in...
by Allison Engst | Feb 21, 2018 | Announcements, Blog, Finance
The BC Government released Budget 2018 today. As it relates to housing, the government made changes to the foreign buyers tax, and added a new speculation tax. Foreign Buyers Tax – This is really an enhancement to the tax that is already in place, effective...
by Allison Engst | Jan 17, 2017 | Announcements, Blog, CMHC, Homeownership
The Canadian Mortgage and Housing Corporation announced this morning that they will be increasing mortgage insurance premiums on March 17th 2017. They were quick to outline that the changes would only amount to roughly a $5 increase per month for borrowers. Which was...
by Allison Engst | Jan 16, 2017 | Announcements, Blog, Homeownership
On December 15th 2016, the Government of British Columbia announced that it was taking bold action on housing and that they had created a program to help first time home buyers get into the housing market. The program offers an interest free loan of up to $37,500 for...
by Allison Engst | Dec 16, 2016 | Announcements, Blog, Homeownership
Today the BC government introduced an innovative new program designed to assist first time home buyers with their downpayment. BC is now offering interest-free loans up to $37,500 to first-time homebuyers. The following is from the government website! Every British...
by Allison Engst | Oct 12, 2016 | Announcements, Blog, Economy, Homeownership
This morning, Finance Minister Bill Morneau announced new housing measures, changes meant to alleviate risk in Canada’s current housing market. The measures include: Standardizing lending criteria for high- and low-ratio mortgages, including a mortgage stress...
