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Bank of Canada announces increase to the prime lending rate.
I am just sending a quick note out to let you know about today’s announcement by the Bank of Canada to increase the prime lending rate. The increase is .25% and is applicable to variable and adjustable rate mortgages. If you are one of the people on a fixed rate mortgage, then this will not…
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Another reason Vancouver home prices will not increase as quickly this year
The Greater Vancouver real estate market is getting hit from all angles at the moment. There is the foreign buyers tax, the empty home property tax and the most recent draconian mortgage lending rule changes. The foreign buyers tax has been scaled back somewhat to make it more reasonable for those with work permits, but…
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About the BC Home Partnership Program
The newest program initiative offered by the BC government has been officially launched as of Jan. 16th. The program is called the BC Home Partnership Program, and under the terms of the program, eligible first-time homebuyers will be able to receive 5% of the value of your home purchase up to a maximum of $37,500…
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Happy New Year! A year in review for real estate and mortgages
First of all, I want to wish everyone out there a Happy New Year. 2016 was an interesting year, with many twists and turns for the real estate market in the Greater Vancouver Area. Mortgage brokers like myself are still trying to get our bearings after being spun in so many circles.
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First-Time Home Buyer Programs BC government announcement
(Update: this program has been discontinued. To learn more about other home buyer programs in BC, check out the article home buyer incentive programs summarized.) The government today announced a home buyers program in BC to help first time home buyers get into the market and purchase a home. The program matches the down payment…
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8 Scams to Watch Out For This Holiday Season
The holidays are a happy time for celebrating with family, friends, and co-workers. Unfortunately, this time of year can also be turned sour by a wide variety of clever frauds, unauthorized debit and credit card transactions, and bogus person-to-person scams. By the end of 2015, individuals, retailers, charitable donors, and companies were victimized to the…
