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Bank of Canada Announcement (March 2022)

Penticton Mortgage Rates Update – March 2022

Penticton Mortgage Rates Update March 2022

Remember in our most recent Penticton real estate news update, when we encouraged buyers to act quickly before market forces increased the cost of buying a home? We named high demand for BC Southern Interior properties and a subsequently tightening inventory as key drivers of more costly mortgages. The other? The Bank and Canada’s overnight rate. We predicted that the Bank would raise the borrowing rate in 2022, and that prediction came true on March 2 when they made their scheduled announcement. The rate moved from .25% to .5%. But before you come into our Main Street office to smash our crystal ball, we want you to pause for just a second to put the news in perspective. Please keep reading.

What Buyers Really Need to Know About the March 2022 Bank of Canada Increase in the Prime Interest Rate

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How to Book a Mortgage Appointment

How to Book a Mortgage Appointment

You’ve been following Penticton BC real estate news closely over the last few months. You’ve also been paying attention to Bank of Canada announcements regarding the prime rate and bond market activity, and how they impact mortgage rates. Subsequently, you’ve come to the conclusion that now is the perfect time to buy a home. This is a very sound assessment, because if you wait much longer the prices of Okanagan homes will rise further as inventory tightens. That, and the Bank of Canada will inevitably raise the prime rate after holding it steady for two years. Given that you’ve also done your homework about the necessity of working with a mortgage broker as a first time buyer, you’re ready to take the next step – booking an appointment. Is doing so as simple as calling or filling out a contact form, or are there other things to consider before tapping “Call” or “Send”? Let’s review.

3 Important Questions to Ask Yourself Before Booking an Appointment with a Mortgage Broker

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Getting a Family Mortgage?

Getting a Family Mortgage?

Family Mortgage Broker Penticton BC

Family Day 2022 is upon us in BC (February 21) which marks the perfect time to address a home buying opportunity that households throughout the BC Southern Interior have been thinking about – a family mortgage. As it sounds, a family mortgage represents the pooling of tangible and intangible resources (funds, equity, credit, etc.) amongst one’s family in order to buy a home and get more favorable terms on a mortgage. It can be a great way to enter and/or invest in the Okanagan’s hot market. As Penticton’s best known family mortgage broker we can say that this has worked out tremendously for kinsfolk throughout the community. That said, the are some key things to consider. Let’s review.

5 Things to Consider Before Getting a Mortgage With Family in the BC Southern Interior

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Penticton Real Estate News | January 2022

Penticton Real Estate News | Jan 2022

We’re three weeks into the new year. Now that you’ve shaken off the cobwebs from the Holiday season you’re ready to move forward with your plans to make your dream come true – home ownership. There’s nary a better place to make that happen than right here in the BC Southern Interior. But before you take steps on your own to get pre-approved on a mortgage, have a look at what’s new in the Penticton area real estate market.

Recent Real Estate Updates Regarding Penticton and the Surrounding Area that New Buyers Need to Know About

Read More »Penticton Real Estate News | January 2022

Mortgage for First Responders

Mortgage for First Responders

Mortgage for First Responders Penticton BC

“First responder” is a professional designation that has been thrust to the forefront over the last couple of years. Although, admiration for those who have chosen this career path has been deserved since the beginning of time. That said, the financial reward has not always been there, especially for those with limited seniority. If you’re among this lot and are considering your very first mortgage you may feel trepidation about approaching lenders, or even getting pre-approved. Allow us to alleviate your uncertainty. Below is a breakdown of why securing a loan for your first home can be much easier than you think.

3 Things First Responders Want to Know About Getting a Mortgage in the BC Southern Interior

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How a Mortgage Broker Can Help You Keep Your NY Goals

The new year is here. Like with most households, you and yours have set resolutions for the annum ahead. If you also happen to be in the market for a home, you’re in luck. Why? Because the right mortgage broker can assist not just with a home purchase, but can help you keep two common (and worthy) new year goals. Here’s how.

2 Big Ways a Mortgage Broker Can Help You Buy a Home AND Reach Your New Year Resolutions for 2022

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Why a Mortgage Broker is Like Santa Claus

Why a Mortgage Broker is Like Santa Claus

Whether your household calls him Santa Claus, Father Christmas, Père Noël, Babbo Natale, Saint Nicholas, or Kris Kringle, there’s another name you may not have considered – your friendly local mortgage broker.

Oh boy, have we crossed the line with this comparison? While we may be taking some dramatic license and adding a little levity, the resemblance isn’t as far fetched as you think, at least not when you’re on the market for your very first home. Let’s unwrap it and see.

3 Reasons Why a Mortgage Broker is a Lot Like Santa Claus for First-Time Home Buyers

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Getting a Mortgage With Your Kids

Getting a Mortgage With Your Kids

Getting a Mortgage With Your Child

We’re following up our recent article, which went out to young singles and couples who wonder if getting a mortgage with their parents is a good idea. If you’ve been approached about a real estate investment by your adult child recently, that’s on us. On the surface it may seem as if the scenario is about them simply asking for help, which you may be happy to offer. However, we encourage you to look at the prospect as an opportunity that is ripe with benefits that you may not have considered. Have a look at these advantages which we have listed below.

3 Reasons Why Getting a New Mortgage With Your Adult Children May be a Wise Investment in Your Future

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Buying a Home During the Holidays

Buying a Home During the Holidays

Starbucks red cups are in the mittens of nearly everyone on the street and the Hallmark Channel has launched its onslaught of Holiday winter romance. It must be Christmas. And here you are, amidst all of the festive hustle and bustle, preparing to buy a home. With all that is going on at this time of the year, does it make sense? Should you wait until the New Year has sprung? Not necessarily, especially in the dog days of 2021. Here’s why.

3 Reasons Why It’s a Good Idea to Move Forward With Buying a Home During the Holiday Season

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Getting a Mortgage With Your Parents

Getting a Mortgage With Your Parents

Getting a Mortgage With Your Parents Penticton BC

It’s entirely possible to get a mortgage in the current Okanagan real estate market as a young single person. The availability of first time buyer incentive programs along with favorable mortgage rates make entry viable for someone who wants to start building their equity. That said, you’re interested in tapping into another valuable resource – your folks. While there are a number of benefits to getting a mortgage with your parents, you’re on the fence about whether or not you should partner with them to invest in a home. Below is a breakdown of why it may be a wise decision that supports your goals for today, and tomorrow.

5 Reasons Why Getting a Mortgage With Your Parents May Be a Very Wise Decision

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