Important Mortgage Rule Change Update: FICOM will not be making changes to it’s lending guidelines, which means that provincially regulated credit unions, such as Island Savings and Coastal Community Credit Union, will not have to adopt the new mortgage rule changes come January 1st, 2018. Find out how this can affect the approval of your early mortgage renewal application by contacting a mortgage expert today.
Economic update · week of August 31 The Bank of Canada decides Wednesday, and the data is pulling both ways. The announcement lands Wednesday, September 2. Going in, the case is genuinely mixed — three things are pushing in different directions at the same time. Friday’s GDP number came in better than […]
Mortgage Rates and Economic Update Mortgage rates have eased over the past few weeks. With the conflict in the Middle East settling down, energy prices have started to come back to earth — and the expectation is that inflation cools along with them. Bond yields have softened in response, and fixed mortgage rates have followed […]
Greater Victoria has 3,710 active listings and sellers are getting nervous. That’s a great time to buy — but a terrible time to sell. So how do you upgrade or downsize without giving away equity? Keep your existing property as a rental and time the sale for the next seller’s market.