The holidays are a time for joy, generosity, and connection, but they can also bring financial stress. Between gifts, gatherings, and travel, it’s easy to overspend and face a credit card shock come January. For many families across Vancouver and Vancouver Island, where the cost of living is already high, the holidays can put even […]
If your mortgage is coming up for renewal in 2026 or 2027, now’s the time to start preparing. Thousands of homeowners across Nanaimo and Vancouver Island will be renewing in the next couple of years – and with rates, budgets, and life circumstances always changing, a little preparation can make a big difference. Here are […]
Canada’s New Public Housing Strategy: What It Means for Nanaimo Buyers and Homeowners Canada has introduced a national housing plan aimed at addressing the housing shortage and improving affordability, particularly for first-time buyers. The strategy’s goal is ambitious: to double residential construction and build up to 500,000 new homes per year over the next decade. […]
Economic Chaos or Opportunity? History Repeats Itself — Which Path Do We Choose? “A smooth sea never made a skilled sailor.” – Franklin D. Roosevelt We’ve seen this before. Markets rise and fall. Rates soar, then crash. Governments overspend, consumers overborrow, inflation bites — and then, somehow, we bounce back stronger. Right now, the economy […]
Bank of Canada Maintains Benchmark Interest Rate at 2.75% in June 2025 Bank of Canada Maintains Benchmark Interest Rate at 2.75%, a position it has maintained since March and April of this year. This decision reflects the Bank’s cautious approach amid ongoing economic uncertainties, particularly regarding U.S. trade policy’s potential impacts on the Canadian economy. […]
CMHC’s Eco Improvement Program CMHC’s Eco Improvement Program provides financial incentives to encourage the construction or renovation of energy-efficient homes. The Eco Program plays a pivotal role in Canada’s efforts to meet climate goals. CMHC’s Eco Program has an updated and expanded list of energy efficient certifications. Building codes are progressing toward net-zero ready standards […]
Unlocking Homeownership: Canada’s New First-Time Home Buyers 30-Year Insured Mortgage As home prices continue to rise, it can feel nearly impossible for first-time buyers to break into the market. The 30-year insured mortgage is a game-changer for young Families, and first time buyers trying to purchase their first home, especially in cities where prices have […]
Maximizing Income vs. Using Business Write-Offs: A Balancing Act When Qualifying for a Mortgage If you’re self-employed and planning to buy a home, refinance, or transfer your mortgage, balancing income and tax write-offs is crucial when tax season arrives. Your financial profile plays a significant role in mortgage qualification, and understanding how lenders assess self-employed […]
Homebuyers Benefit From More Purchasing Power 1. Introduction of 30-Year Amortizations for Insured Mortgages One of the most significant shifts this year is the introduction of 30-year amortizations for insured mortgages. This extension allows certain buyers to spread out their mortgage payments over 30 years instead of the previous 25-year maximum, increasing purchasing power. The […]
Make the Most of Your Mortgage Renewal As your mortgage renewal date approaches, our team at Mid Island Mortgage wants to help you make the most of this opportunity. With many Canadians renewing their mortgages in 2025, this renewal season comes with some unique advantages, thanks to recent policy changes. Here’s why a […]
