Wright Mortgage
1385 W.8th Avenue Vancouver BC V6H3V9 Vancouver, BC, Canada

If you're unsure of what's happening in the world of mortgages at the moment, call or text me at 604-418-6380. Email is [email protected].

Very interesting read in light of what's coming down the line with the new Canadian mortgage regulations announced earlier today. https://www.bloomberg.com//china-s-great-property-pullback

As of January 01, all real estate purchases, even those with 20% down or more, will be subject to the 'Stress Test' to ensure that future mortgage debt will be within your ability to pay. Long story short, you will qualify for about 20% less.

The Bank of Canada has raised the overnight rate to 0.75% from 0.50%. This will most likely be followed by the banks increasing their Prime rate from 2.70% to 2.95%. For those of you with a deep discount on your Variable rate mortgage, stay put for now.

The Bank of Canada has hiked the overnight rate to 0.75% from 0.50%. Most banks and lenders will probably increase their Prime rate by the same 0.25%, taking Prime to 2.95%. (TD is an exception to this). For those of you with a deep discount on your Variable rate mortgages, stay put for now.

http://www.cbc.ca//b/interest-free-home-loans-bc-1.3897832

http://www.vancitybuzz.com//affordable-home-ownership-pro/

Here's an easy way to understand the new down payment rules.

Interesting news today! The BC Minister of Finance has announced several changes to the Property Transfer Tax program, effective Wednesday, which include: A property transfer tax exemption for Canadian citizens and permanent residents who purchase newly-built homes, condos and townhouses under $750,000. Purchasers must live in the property for at least one year. This is a potential savings in closing costs of up to $13,000;... A one percent increase in property transfer tax to three percent for homes which are sold over the $2 million mark; The first time home buyers exemption will remain in place for homes under $475,000; Buyers will need to start disclosing their country of residence in all property transactions; The beneficial ownership of properties held by corporations will also be tracked.

http://www.theglobeandmail.com//bank-of-/article25514585/

Interesting article on Olympic Village, 5 years after the games. $500,000 less than the original purchase price?

Here's an example of a great entry level condo for a first time buyer.

Sweet design! Bet it looks awesome in the sun like today.

Check out these tips for increasing the value of your home.

Some good guidelines here for buying a rental property. The second rule #1 is...Always talk to your mortgage broker first! Some lenders are simply way better for rental properties than others, not just for rate but also for the way that they will use the rental income to help you qualify for the purchase.

I love these then and now shots. Pretty cool. I had no idea that Canadian troops practiced for D-Day at Kits Beach.

When people ask me what I think interest rates will do, the last thing I would have guessed is what just happened. Just goes to show that speculating on any market is an exercise in futility.