Victor Anasimiv is your Island Mortgage Specialist
203-1978 Cliffe Ave., V9N 2L1 Courtenay, BC, Canada

This is Tom Lennox, my associate mortgage broker for the past 5+ years. We're proud of your commitment to running and thankful that you bring the same level of determination and passion to your work every day!

Hudson -the Modern Mortgage Group office dog- wishes you a Merry Christmas!

Recognized in the Top 3 is awesome and much appreciated! I'd like to thank everyone who voted for me as "Mortgage Professional" and also in the category "Financial Institution - Mortgages" in The Record's Readers Choice Awards 2020. Thank you very much, Victor

Yesterday Bank of Canada announced that it will hold its current overnight benchmark interest rate (primarily what the Prime interest rate is based upon) at the current range until "economic slack is absorbed" which the bank predicts is sometime in 2023. Meaning: interest rates will likely remain low for a couple/few years to come

Excellent article.

Awesome news for borrowers with a Variable Rate Mortgage and those with balances on their Line of Credit! Yesterday the Bank of Canada implied that it has no plan of raising rates until at least 2023 and said they would hold the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2 percent inflation target is sustainability achieved....meaning: rates will be low for the foreseeable future

With 5 year fixed interest rates as low as 2.09% (that's right, a fixed rate @ 2.09% on a high ratio mortgage for 5 years!) now may be the time to buy your first house or to upgrade your home to a new bigger house!

This is good news! Genworth and Canada Guaranty (Canada's other two mortgage default insurers after CMHC) announced today that neither have any plans to change their underwriting policy for debt service ratio limits, minimum credit score and down payment requirements.

CMHC just announced three important policy changes starting on July 1st. These policy changes apply to borrowers who have less than 20% down payment and require mortgage default insurance. #1) Gross/Total Debt Servicing (GDS/TDS) ratios will fall to 35/42 from the current 39/44 **what this means is the average borrower's max purchasing power will drop 9% to 13% #2) The minimum credit score required will increase to 680 **so, having just a mediocre credit score may affect a b...orrower from purchasing a home #3) Non-traditional sources of down payment that increase indebtedness will no longer be allowed **a borrower cannot use funds from an unsecured line of credit or a credit card for their down payment. Yes, borrowing one's down payment has still been available, but only for very strong applicants and with just a few lenders. These new changes will negatively affect some purchasers, especially first time home buyers.