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Mortgage News and Helpful Tips for Home Buyers

Bank of Canada Announcement (April 2022)

Penticton Mortgage Rates Update – April 2022

Penticton Mortgage Rates Update - April 2022

In last month’s Penticton mortgage rates update we detailed the recent (at the time) Bank of Canada announcement regarding the Policy rate. In March they increased the rate from .25% to .5%. We predicted that the Bank would once again raise the cost of borrowing incrementally through the months ahead, with another projected this very month (April). This morning (April 13) they did just that, with a move that the Financial Post and others are calling a super-sized rate hike. Is mainstream media being dramatic? More importantly, should new buyers reconsider getting a mortgage through the remainder of the spring and summer of 2022? Let’s review.

What Buyers Really Need to Know About the April 2022 Bank of Canada Policy Rate Hike

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Mortgage for Healthcare Workers

Mortgage Broker for Healthcare Workers

Mortgage for Healthcare Workers and Nurses in BC

We recently covered mortgages for first-responders, but this week we want to dive deeper into the concept with a look at healthcare workers in BC. After an unimaginable couple of years, you’re overdue for a reward – and a return to focus on yourselves for once. As a big part of your goals for the year/s ahead, you have made homeownership a top priority. Congratulations on your decision to take this important step! That said, given the nuances of buying a home in BC you could use some help. That’s what we’re here for. Carloni Mortgage Brokers in Penticton BC has pledged to assist the province’s treasured healthcare workers in getting a favorable mortgage in the Okanagan Valley. Here is why you should reach out to us today.

Why Healthcare Workers in the BC Southern Interior Turn to Carloni Mortgage Brokers to Get Help Buying a Home

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Penticton Real Estate News | Spring 2022

Penticton Real Estate News | Spring 2022

Penticton Real Estate News

Spring Break 2022 is in the books, and for many households in the BC Southern Interior it’s time to get back to #lifegoals, with homeownership being one of them. Traditionally, the season is prime for real estate, offering buyers enough time to get pre-approved on a mortgage, find their dream property, and move-in in time to enjoy the summer in the best place in BC. But does this spring in particular represent a good time to buy a home in Penticton and in the Southern Okanagan Valley? Let’s have a look at current real estate news to find out.

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

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Mortgage for a Condo

With a white hot real estate market in the BC Southern Interior, the values of single detached family homes have priced some people out of the market. As a result, buyers and investors are shifting attention to condominiums, especially in the Penticton area where there is an exquisite balance of desirable inventory and affordability. The average price for a condo in the resort community of the South Okanagan is less than $390,000. Compare that to Central Okanagan at $516,000 or for a laugh – Greater Vancouver where prices have increased 16% year-over-year to $808,000. Again, a mortgage for a condo in Penticton starts to make a lot of sense, in one’s dreams and on paper. Below is a breakdown of a few key things to consider before proceeding with your pre-approval.

What You Need to Know About Getting a Mortgage on a Condominium in the BC Southern Interior

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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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