A federal financial regulator announced Monday it is winding down COVID-19-related relief for banks offering deferred mortgage payments, a move the watchdog says comes as lenders are in a better spot to start offering “business-as-usual alternatives” again to cash-strapped customers. The Office of the Superintendent of Financial Institutions (OSFI) has allowed federally regulated lenders during […]

Things to consider prior to making a prepayment Paying down your mortgage is a smart step that’s always encouraged. We recommend you first consider the following for your financial well-being as making a lump-sum pre-payment on a mortgage is one sided. Once you’ve made the payment, there are only two ways to get the money […]

Today’s release of July housing data by the Canadian Real Estate Association (CREA) showed a blockbuster July with both sales and new listings hitting their highest levels in 40 years of data. This continues the rebound in housing that began three months ago. National home sales rose 26% month-over-month (m-o-m) in July, which translates to […]

Deputy Prime Minister Chrystia Freeland has taken on a major new role: finance minister. In a physically distant ceremony at Rideau Hall on Tuesday, Freeland removed her face mask briefly to take the oath of office and become the country’s new minister of finance before replacing the mask to bump elbows with both Prime Minister Justin Trudeau […]

Vancouver sales increased 44 per cent on the month and 24 per cent from July 2019. Canadian home sales surged to a record in July as homebuyers emerged from lockdowns. Transactions for existing properties reached 62,355 in the month, up 26 per cent from a month earlier, the Canadian Real Estate Association reported. Benchmark prices […]

Canada’s finance minister resigned on Monday amid friction with Prime Minister Justin Trudeau over spending policies and after coming under fire for his ties to a charity tapped to run a student grant program. Bill Morneau said he would not run for parliament again and would instead seek to become the next secretary general of […]

In an announcement on August 14 the Provincial Government released the full details on the Residential Tenancy Branch’s Repayment Plan framework. This announcement brings with it a significant change to the timing of the end date of the moratorium on ending tenancy for unpaid rent. It was previously announced that this would end when the […]

The stress test rate is about to fall for the second time in three months following cuts by Canada’s Big Six banks to their 5-year fixed posted rates. Mortgage experts say the Bank of Canada will reduce the benchmark qualifying rate—a.k.a., “stress test rate”—from 4.94% to 4.79% this week. National Bank of Canada cut its […]

The Canadian economy bounced back sharply in May and June as Canadian provinces eased lockdown measures. GDP expanded 4.5% in May, and activity in June was even more robust at an estimated 5% rise. Cumulatively, GDP rose 10% in May and June, after plummeting more than 18% in March and April. These figures are calculated […]

Not even a pandemic can slow buyers. More of us are working from home, staying in, homeschooling and all need a space to co-habitat together. Canadians want more space. A place to recharge, work, and educate their children. BC in particular is being showcased for all the beautiful locations with waterfront views. Only minutes away […]