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 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 […]
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? 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 […]
Mid-Island Mortgage & Savings Ltd. & the Christmas Angels… Every year our team at Mid-Island Mortgage & Savings Ltd. Nanaimo work with Volunteer Nanaimo and their Christmas Angels program to sponsor a family in need within the local community. Here are some photos from this year’s gift haul for the amazing family… If you would […]
Today’s Mortgage Interest Rates: Rates Smash Another Record Low – According To Forbes Mortgage rates made history again this week. Interest rates on the 30-year fixed-rate mortgage sunk 12 basis points to 2.72%, a historical low. Covid-19 outbreaks across the country overshadowed the news of strong vaccine candidates from pharmaceutical companies Pfizer and Moderna, as […]
Get a head start on research: Read articles online, newspapers, magazines and informative blog posts like this one. This will give you a better idea of housing trends in your area. Figure out your budget: Most lenders recommend that people look for homes that cost no more than three (3) to five (5) times their […]
Vancouver Island will provide you with adventures to last a lifetime. From scenic mountain views to stunning sandy beaches, the island has something for everyone! Here’s a list of 3 reasons you will fall in love with life on the island: The Hikes: Explore the Juan De Fuca Marine, West Coast or Cape Scott trails! […]
Our mortgage brokers, Kevin Decker and Jason Barudin, will do all of the extensive work in finding the right mortgage for your needs and support you throughout the entire application and settlement process. We do all the paperwork, sourcing pre-approval, and keep you up to date with the progress of your application. This frees you […]
Not everyone can qualify for bankable mortgage loans. Private mortgages are a great alternative for while you are trying to establish or fix your credit, but are not meant to be a long-term solution. Private lenders tend to be less strict about your credit history, and have less requirements for an approval than a bank […]
