Mortgage in Kamloops

If your mortgage renewal is coming up, there’s a good chance your lender has already sent you a letter with a rate and a spot to sign. It’s quick. It’s easy. And it’s exactly what most people do. But here’s the thing—this is one of the few times you can make a change without penalties.

The Bank of Canada’s prime rate went down how come the fixed rates haven’t dropped? Understanding the Connection Between Prime Rates and Fixed Rates When we talk about mortgage rates, it’s important to understand that there’s a difference between prime rates and fixed rates. Here’s a simple way to look at it: Prime Rate: This is

The Bank of Canada announced its third consecutive rate hold in its final announcement of the year, maintaining the target rate at 5%. In Canada, the economy continues to slow down after hitting a roadblock in the middle of 2023. Higher interest rates are helping to alleviate inflationary pressures and curb spending; consumption growth was

Owning a home and retirement planning are interconnected in several ways. Firstly, homeownership provides stability in old age by eliminating concerns about rent increases or the potential need to move due to landlord decisions. Having paid off your mortgage by retirement can significantly reduce monthly expenses, making it more feasible to live on a fixed

The Purchase Plus Improvements Mortgage plan is designed to help homebuyers finance both the purchase of a home and the cost of renovations or improvements. Here’s how it typically works: 1. Home Purchase: You start by purchasing a home that you intend to renovate or improve. This can be a new purchase or a refinance

Are you waiting for the market to crash so you can buy at rock bottom prices? What if we’re already there? What if houses are on sale and you can’t see it? Two years ago interest rates were 2% lower and the price of a single family home was $100,000 higher. What do you think