Bank of Canada maintains overnight rate target at 1/2 per cent FOR IMMEDIATE RELEASE Media Relations 613-782-8782 Ottawa, Ontario 18 January 2017 Available as: PDF   The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. Uncertainty about the global outlook is undiminished, particularly with respect to policies in the United States. The Bank has made initial assumptions about prospective tax policies only, resulting in a modest upward revision to its US growth outlook. Overall, the global economy isRead More →

CMHC to Increase Mortgage Insurance Premiums OTTAWA, January 17, 2017 — CMHC is increasing its homeowner mortgage loan insurance premiums effective March 17, 2017. For the average CMHC-insured homebuyer, the higher premium will result in an increase of approximately $5 to their monthly mortgage payment. “We do not expect the higher premiums to have a significant impact on the ability of Canadians to buy a home,” said Steven Mennill, Senior Vice-President, Insurance. “Overall, the changes will preserve competition in the mortgage loan insurance industry and contribute to financial stability.” Capital requirements are an important factor in determining mortgage insurance premiums. The changes reflect OSFI’s new capitalRead More →

The Province is increasing the home owner grant threshold to $1.6 million, helping keep property taxes affordable for families and ensuring most home owners will continue to receive the full grant this year, Finance Minister Michael de Jong announced today. “This is a 33% increase over last year,” said de Jong. “We are doing our part to help keep housing costs affordable for families. Local governments can also work to keep property taxes at a manageable level for residents by controlling their spending and reining in the amount of revenue they need to operate.” The Province is projected to spend $821 million on home ownerRead More →

PERSONAL SNAP SHOT About: Nick is married and has a dog named Sunny. Born and raised in the Tri-cites area, he and his wife made a recent move to Mission and have been enjoying the new community immensely. Interests: Sports – all kinds of them. Hockey, football, etc. Nick is what one might call, competitive and sports helps to feed that trait. Likes (If you had more time, what would you do more of): Spending time with family, vacationing/weekend getaways and sports. Loves (can’t live without): As a realtor, he can’t live without his phone or laptop. BUSINESS BASICS   Started as a Realtor in:Read More →

Government of British Columbia Government Organization ● 51,779 Likes LIKE ON FACEBOOK Starting in January 2017, BC is partnering with first-time homebuyers. With the new BC HOME Partnership program, you could be eligible for a down payment loan of up to 5% of the purchase price of a home. #BCFirst http://ow.ly/lSmN307cBRr 25 Likes ● 20  Comments ● 14  Shares Like or Comment on this story on Facebook Share If you’re entering the market to buy your first home, the B.C. government is launching a new program to partner with you on the down payment for your mortgage, Premier Christy Clark announced today. “We believe every British Columbian deserves a place to call home,”Read More →