You found a better rate. Maybe you’re moving. Or consolidating debt. On the surface, breaking your mortgage might look like a smart move. But before you pull the trigger, take a closer look at the penalty. In many cases, it can eat up most of the savings or potentially worse. This guide explains how prepayment…
The Bank of Canada has largely kept to the sidelines as it tries to get a sense of how U.S. tariffs will impact the economy — and some economists think it might just stay there. After a quarter-point cut in March, the central bank held its benchmark interest rate steady at 2.75 per cent in…
Home sale trend stabilizing in June 2025, halving the decline seen last month. Real Estate Board of Greater Vancouver Market Report Fraser Valley Real Estate Board Market Report Call Stan at 604-202-1412
On May 27, 2025, the Federal Government issued a press release that provides for a Goods and Services Tax (“GST”) rebate for first time home buyers (FTHB) of new homes (and co-ops). The press release indicates that the Excise Tax Act will be amended to provide FTHB with a full GST rebate on homes under…
What Is a Ratio Mortgage? In the context of conventional and high ratio mortgages, the ratio mortgage refers to the relationship between the size of the mortgage loan and the amount of the down payment the investor is willing to place when purchasing a property. It is also known as the loan-to-value ratio. The down payment is…
In the dynamic realm of real estate in Canada, the foreclosure and power of sale processes play a crucial role in ensuring the orderly resolution of financial disputes and the protection of both lenders and borrowers. In British Columbia, Canada, these processes are well-defined, providing a legal framework that governs the transfer of property ownership…
Where to Get Your Mortgage Loan When shopping for mortgage options, home buyers mainly choose between a direct bank lender (or another financial institution) and a licensed mortgage broker. These two primary mortgage providers, which account for an almost even split of the market, offer different access to rates, terms, and approvals, which can appeal to…
Why Get a Mortgage? The price of a home is often more than what a single individual or household can save. Therefore, many choose to buy a home or an investment property by putting down a deposit of typically 20% of the home’s purchase price, and obtaining a loan for the remaining amount. This assistance…
What Is the Process of Paying off a Mortgage? When you get a mortgage, you’re not just agreeing to pay back the amount you borrowed (principal). You also agree to pay interest on the money you still owe. How much you’ll pay in interest depends on a variety of factors, including your loan type, how much you borrowed,…
How To Build Wealth Through Real Estate Real estate has been proven to contribute significantly to individual and household wealth. This is because investing in a home can build wealth through equity and appreciation. Equity represents the current value of the property minus any debts or liabilities. Appreciation means the growth of the property’s value…