Mike Grace
737 Yates St Suite 420 V8W 1L6 Victoria, BC, Canada

Very happy to break the 100 Google Reviews mark today - currently at 101! A very big thank you to all of my clients for sharing their positive experiences, and helping to grow my business!!

Interesting to plot CMHC policy effect on an imaginary First Time Homebuyer's affordability from 2016 to July 2020. Incomes increase. Affordability Declines. CMHC most recent policy change erodes borrower affordability, destabilizes the market, and reduces CMHC revenues in the midst of a major crisis event. ... Would love for someone to tell me how this makes sense! -Assumes borrower has base income of $63K/yr (increasing 2%/yr) -$30K in Savings available for DP + Completion Costs -Overall decrease of Price Affordability 30.59% 2016 to 2020 -Recent GDS/TDS changes result in 8.2% reduction in Price Affordability If you can't see the graph clearly, DM me for a copy of my data sheet :)

Didn't think I would ever see the day where I could get this guy into a reverse mortgage ;). Congrats on the new Fairfield digs Brent & Andrea Brice! She's a beauty!

Very happy to break the 100 Google Reviews mark today - currently at 101! A very big thank you to all of my clients for sharing their positive experiences, and helping to grow my business!!

Very excited to release my latest tool. Intended for clients that have an upcoming renewal, this calculator will quote LIVE rates and translate your potential savings into a simple dollar amount. You will need your annual mortgage statement OR your existing bank's renewal notice to get you started. This tool will save you a couple hours interacting with your broker or bank. https://www.mikegrace.ca/mortgage-renewal-rates-savings-ca/

Interesting to plot CMHC policy effect on an imaginary First Time Homebuyer's affordability from 2016 to July 2020. Incomes increase. Affordability Declines. CMHC most recent policy change erodes borrower affordability, destabilizes the market, and reduces CMHC revenues in the midst of a major crisis event. ... Would love for someone to tell me how this makes sense! -Assumes borrower has base income of $63K/yr (increasing 2%/yr) -$30K in Savings available for DP + Completion Costs -Overall decrease of Price Affordability 30.59% 2016 to 2020 -Recent GDS/TDS changes result in 8.2% reduction in Price Affordability If you can't see the graph clearly, DM me for a copy of my data sheet :)

Very stoked that an honest and transparent approach is resonating with new and returning clients, AND translating into a successful business. This is the second year in a row I've made the top 20% of mortgage producers across Canada. The financial world (mortgages, investments and banking) needs more of this!!

Hey All - I've done my best to summarize available income supports and mortgage relief options during this crazy time. Everything from Employment Insurance to Property Tax Deferrals to Mortgage Relief Programs. Please share the following info to as many people as you think could use a bit of help right now. https://www.mikegrace.ca/covid-19-emergency-income-support/

50 basis point rate cut from the Bank of Canada this morning due to COVID 19 concerns. Competitive variable rates are back!50 basis point rate cut from the Bank of Canada this morning due to COVID 19 concerns. Competitive variable rates are back!

New qualifying standards are now in effect - and yes, it makes things more difficult! Mortgage pre-planning should be an essential step if you want to purchase or refi in the next 1-2 years. Email me at [email protected] to get started!

Didn't think I would ever see the day where I could get this guy into a reverse mortgage ;). Congrats on the new Fairfield digs Brent & Andrea Brice! She's a beauty!

I'm both humbled and proud to be recognized by TMG - The Mortgage Group as being in the top 20% of mortgage originators nation-wide! I want to express my appreciation to friends and clients who have supported my business, trusted me with their private finances and chosen me to help them find the best mortgage deal possible. I also want to thank my referral partners in the industry for understanding my business model and trusting that I'll provide their referrals with the s...ame honest approach I would give my friends. Probably most importantly, I want to thank my family - Nancy and Roscoe who motivate me to push my limits and have made things work without Daddy for a large part of what has been an extremely busy year.

Here's a short little article from Victoria News that I was asked to provide some basic info for. The last couple years has changed the entry point for first timers looking to purchase a detached home in Victoria. This article addresses some of these issues. While not 100% correct in places, the basic jist of the article is coherent.

Great perspective here on recent restrictions to the mortgage market, and how the government is managing risk on the behalf of all Canadians.

So... I've been a very busy bee, and haven't been keeping up with my weekly mortgage rate updates. It's been a while, but here are some fresh rates for you. New mortgage rules are making strategically pre-planning your entry into the market a necessary first step. Contact me with any questions or to get started! http://www.mikegrace.ca/november-4-2016-best-mortgage-rate/

A rainy labour day brings an abrupt end of summer - but rates are great and the fall real estate market in Victoria is ramping up. http://www.mikegrace.ca/rainy-labour-day-weekend-best-mor/

Low interest rates, high housing demand and high real estate prices drive a crazy building boom in Victoria in this week's best mortgage rates update: http://www.mikegrace.ca/august-3-2016-best-mortgage-rates-/

Ok people. Lots of talk about the over-heated housing markets in Vancouver and Victoria. It's been a big week for regulatory announcements - change is coming to the lending world, the squeeze is on and I think it's a good thing. Read more in my weekly interest rate update:

Victoria's Real Estate market still humming into summer. Great rates too in this week's Best Victoria Mortgage Rates Report. http://www.mikegrace.ca/june-28-2016-best-mortgage-rates-u/

Some lower fixed rates for conventional mortgages in this week's Best Victoria, BC Mortgage Rates Update:

Variable rates seeing increased competition in this week's Best Victoria, BC Mortgage Rates Update.

Creatures from the Deep.... And this week's Best Mortgage Rates Update! ;)

Variable Rates seeing some improvement this week, while fixed rates are still highly competitive, in this week's Victoria's best mortgage rates update.

Bond yields are stumbling across the board meaning that fixed rates will continue to remain low in this week's Best Mortgage Rates Update:

Still some amazingly low fixed rates out there this week, despite an upward trend last week. http://www.mikegrace.ca/may-3-2016-best-mortgage-rates-upda

Fixed rates have found bottom and seem to be heading north again this week with rallying bond yields in this week's Tuesday Morning Rate Update:

Here is this week's Tuesday Morning Rate Update! http://www.mikegrace.ca/april-19-2016-best-mortgage-rates-/

Here is your Tuesday Best Mortgage Rates Update:

Congrats to Rob and Elaine who took possession of their new home today in Brentwood Bay. It was a pleasure working with you guys!

Strategic mortgage planning paid off big time for the Crawford Family! Their new mortgage saves them over $20,000 in interest over the next 5 years! Great family, beautiful property and always feels extra-good to save clients money!

Some really good quick close specials in this week's Best Mortgage Rates Update: http://www.mikegrace.ca/april-5-2016-best-mortgage-rates-u/

Should you go with a fixed or variable rate in today's economic climate? The answer may surprise you in this week's best mortgage rates update. http://www.mikegrace.ca/march-29-2016-best-mortgage-rates-/

Fixed 5 Year Mortgage Rates as low as 2.39% in this week's Best Mortgage Rate Update: http://www.mikegrace.ca/march-22-2016-best-mortgage-rates-/

Wondering how to save money on your Property Transfer Tax? Try my new Property Transfer Tax Calculator to determine new tax exemption amounts: http://www.mikegrace.ca/property-transfer-tax-calculator-bc/

This week's best mortgage rates update: http://www.mikegrace.ca/march-15-2016-best-mortgage-rates-/

Here's a a few simple ways to make sure you get the best mortgage rate possible: http://www.mikegrace.ca/mortgage-rate-triangle/

Is affordability in Victoria's housing market eroding before our eyes?... in this week's Best Mortgage Rates Update http://www.mikegrace.ca/march-8-2016-best-mortgage-rates-u/

HOME BUYERS IN VICTORIA: How a good mortgage broker can make the difference for you in today's crazed market. And this week's best mortgage rates update. http://www.mikegrace.ca/march-1st-2016-best-mortgage-rates/

FIxed rates continue to drop as low as 2.44% this week as several lenders duke it out for top spot. http://www.mikegrace.ca/february-23-2016-best-mortgage-rat/

Fixed rates dropping as low as 2.49% in this week's Tuesday Morning Rate Update: http://www.mikegrace.ca/february-16-2016-best-mortgage-rat/

Just a couple reasons why Vancouver's Real Estate Bubble is getting closer to bursting in this week's Tuesday morning Mortgage Rate Update: http://www.mikegrace.ca/february-9-2016-best-mortgage-rate/

ATTENTION FIRST TIME HOMEBUYERS: Did you know you can save HUGE MONEY on your Real Estate purchase by understanding your Closing Costs? Use my proprietary Closing Cost Calculator to understand how: http://www.mikegrace.ca/first-time-homebuyers-closing-cost/

If you're going to read just ONE of my weekly Interest Rate and Victoria Real Estate Market Updates, THIS IS IT. Very interesting stats here. http://www.mikegrace.ca/february-2-2016-best-mortgage-rate/

Heading South to get some sun. Be back February 1st. For all your mortgage needs in the meantime please contact Laurel Loxam - The Mortgage Group Victoria

I can 'bear'ly contain my excitement for this week's Tuesday morning rate update! http://www.mikegrace.ca/january-12-2016-best-mortgage-rate/

This years first Tuesday Morning Mortgage Rate Update. Big Banks are pricing themselves out of the dog-park! http://www.mikegrace.ca/january-5-2016-best-mortgage-rates/

There's a nice rate drop in this weeks Tuesday Morning Mortgage Rate Update. Hope you had a great Christmas, next up to bat is New Years! http://www.mikegrace.ca/december-29-2015-best-mortgage-rat/

Your Tuesday Mortgage Rate Update. Highlights for Christmas week include banks raising a few of their 3 year fixed rates, and free legal on Refi's until December 31st! http://www.mikegrace.ca/december22-15-rate-update/

Happy Tuesday! Time for Your Tuesday Morning Mortgage Rate Update. Have a great week! http://www.mikegrace.ca/tuesday-morning-rate-update-decemb/

Interesting read if your are thinking about getting a high-ratio mortgage. http://www.mikegrace.ca/the-true-cost-of-mortgage-insurance/

Big Congrats to Dave and Ali on the purchase of your beautiful home in Mill Bay! Glad that I could be a part of it!

Here's the first of many, Tuesday Morning Mortgage Rate Updates: http://www.mikegrace.ca/tuesday-morning-rate-update-decemb/

I'm proud to partner with Georgia Strait Alliance to provide mortgages to their members while donating 20% of my fees back to the GSA to assist in advocating for the health of our inland waterways! If you know any other local and noble causes that could use a financial boost I'd love to help! http://www.georgiastrait.org

For those of you thinking of getting a Cash-Back mortgage, this is a MUST READ: http://www.mikegrace.ca/cash-back-mortgages-gold-or-garbag/

Hey my first Review on Yelp! Thanks Doug!! http://www.yelp.ca//mike-grace-mortgage-broker-the-mortgag