by Jamie Cunningham | Jul 30, 2020 | BC, Blog, Bristish Columbia, City of Prince George, Finance, First Time Home Buyers, Homeownership, Interest Rate, Mortgage, Mortgage Broker, PG Mortgage Broker, Pre-Approval, prepayment penalties, prince george |
We are often asked about monoline lenders – who are they, what benefits do they offer, and how do you get access to a monoline lender anyway? Good questions. “Mono” means “one”. So it’s a “one-line” lender that doesn’t do anything else except mortgage lending....
by Jamie Cunningham | Jul 15, 2020 | Announcements, Bank of Canada, BC, Bills, Blog, Bristish Columbia, City of Prince George, CMHC, Debt, Economy, Finance, Home Equity, Homeownership, Interest Rate, Mortgage, Mortgage Broker, PG Mortgage Broker, prince george, Refinance |
The Bank of Canada (“BOC”) announced today that it is holding its target for the overnight rate at the “effective lower bound” of 0.25%. Cameron Strong, CEO, Invis Mortgage Intelligence notes that “Canadian mortgage holders can expect no further rate...
by Katy Livingstone | May 22, 2020 | Bank of Canada, Blog, Bristish Columbia, City of Prince George, Economy, Finance, Interest Rate, Mortgage, Mortgage Broker, Payments |
This week the Minister of Finance has announced that the Mortgage Stress Test rate will be decreasing. Effective May 25, 2020, the new benchmark rate used to qualify insured mortgage will be 4.94%. Previously, the Stress Test rate was 5.04% What does that mean for...
by Jamie Cunningham | May 1, 2020 | Announcements, BC, Bills, Blog, Bristish Columbia, City of Prince George, CMHC, Credit, Debt, Economy, Finance, Home Equity, Homeownership, Interest Rate, Mortgage, Mortgage Broker, Payments, PG Mortgage Broker, prince george |
We hope you and your family are enjoying good health and finding some measure of happiness in this strange spring. Certainly, many are feeling the financial pressures mount as we work together to conquer this pandemic. The good news is there are strategies that can...
by Michelle McCullough | Apr 15, 2020 | Announcements, Bank of Canada, City of Prince George, Interest Rate, Mortgage, Mortgage Broker |
It is no surprise the Bank of Canada held firm on its overnight rate of .25% (1/4 percent) and did not venture into negative interest rates that have been tried notably in Europe and Japan with no evidence that negative rates improved GDP outcomes. Generally,...
by Jamie Cunningham | Mar 19, 2020 | Announcements, Bank of Canada, BC, Bills, Blog, Bristish Columbia, City of Prince George, CMHC, Economy, Finance, Homeownership, Interest Rate, Mortgage, Mortgage Broker, Mortgage Changes, Payments, PG Mortgage Broker |
To say the last couple of weeks have been chaotic, would be an understatement. It’s an unsettling time for most people and we are all trying to navigate through with the best of our knowledge and ability. In the mortgage world we have also had some big changes. I...
