Entries by Mid Island Mortgage Brokers

Before you shop, read this

Why Budget? Everyone knows, the cost of living has increased.  Going to the grocery store, the gas pump, or a trip or to the movies all costs more. While there isn’t much that can be done about that in the short term, what is in everyone’s control?  Budgeting.  Work with what you have to help […]

Subprime vs Traditional Lending

  Coming from a traditional lending background, I’ve often thought of mortgage lending as a puzzle. In order to help the client, every single piece is necessary to get them what they need.  Credit has to be solid, the income both consistent and sufficient, the security (house) had to be in a good location in […]

HOW SOME YOUNG PEOPLE CAN AFFORD A HOME

– HOW SOME YOUNG PEOPLE CAN AFFORD A HOME – By: Edward Trapunski We were recently very flattered to be invited to dinner by a young couple that we know. It was the first time that we visited their home and we were overwhelmed by how beautiful it is. Home for them and their two […]

Lenders hike fixed rates yet again, bringing them closer to 4.5%

-Steve Huebl of Canadian Mortgage Trends-   Following a jump in bond yields last week, lenders across the country once again bumped up their fixed mortgage rates.   Big banks like RBC, TD and BMO hiked 5-year fixed rates by 20 to 25 basis points, with all three offering uninsured rates at 4.39%.   The […]

Many BC homeowners reportedly planning to leave province soon – CMP – REMAX

-Many BC homeowners reportedly planning to leave province soon- Pandemic impacts and affordability concerns rank high among the reasons for moving out… A significant share of British Columbian homeowners are planning to leave the province within the next five years, raising the possibility of even more supply entering the red-hot market during that period, according […]

Low Rates Help Borrowers Pay Mortgage at Record Pace – Canadian Mortgage Trends

Home prices may be astronomical in certain parts of the country, but historically low mortgage rates are allowing borrowers to pay off their mortgages faster than ever. At today’s average rates, 61% of a new homebuyer’s very first mortgage payment is going towards principal repayment, according to data from Edge Realty Analytics. In the early 2000s, […]

CANADA’S HOUSING MARKET – 2021 FORECASTS – CANADIAN MORTGAGE TRENDS

CANADA’S HOUSING MARKET – 2021 FORECASTS – CANADIAN MORTGAGE TRENDS The Canadian real estate market defied gravity last year in spite of a global pandemic and nationwide lockdowns. The year ended with the seasonally adjusted MLS Home Price Index up 13% year-over-year and the average house price surpassing the $600,000 mark. “It’s official, despite all […]

Ten Home Design Trends Here To Stay For 2021 – Forbes

When it comes to interior design, 2021 isn’t too different from 2020. Unlike Chip and Joanna Gaines, the pandemic has been the biggest influence on interior design that no one asked for. At the beginning 2020, designers were touting two-tone kitchens and bold colors as the next big trends. Little did anyone know that practical amenities like […]

What Is Financial Literacy?

What Is Financial Literacy? According to the Wikipedia definition, Financial literacy is the possession of the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources. Which at its core is basically the ability to understand how money works. Importance of Financial Literacy Financial […]