My Rates

6 Months 3.10%
1 Year 2.19%
2 Years 2.19%
3 Years 2.24%
4 Years 2.49%
5 Years 2.44%
7 Years 3.44%
10 Years 3.84%
6 Months Open 6.30%
1 Year Open 3.75%
*Rates subject to change and OAC
Spencer Ennis

Spencer Ennis

Mortgage Broker

101-19909 64th Avenue, Langley, British Columbia









It PAYS to shop around.

Many Canadian homeowners pay too much for their homes because they are not getting the best mortgage financing available in the market.

The mortgage process can be intimidating for homeowners, and some financial institutions don't make the process any easier.

But I’m here to help!

I’m a VERICO Mortgage Advisor and I’m an independent, unbiased, expert, here to help you move into a home you love.

I have access to mortgage products from over forty lenders at my fingertips and I work with you to determine the best product that will fit your immediate financial needs and future goals.

VERICO mortgage specialists are Canada’s Trusted Experts who will be with you through the life of your mortgage.

I save you money by sourcing the best products at the best rates – not only on your first mortgage but through every subsequent renewal. So whether you're buying a home, renewing your mortgage, refinancing, renovating, investing, or consolidating your debts — I’m the VERICO Mortgage Advisor who can help you get the right financing, from the right lender, at the right rate.

BLOG / NEWS Updates

Bank of Canada maintains overnight rate target at 1/2 per cent

The Bank of Canada announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. The current rate is expected to stay where it is well into 2017, depending on economic conditions in the United States, the direction of global oil prices and the impact of new federal stimulus spending. The global economy is evolving largely as the Bank projected in its AprilMonetary Policy Report(MPR). In the United States, despite weakness in the first quarter, a number of indicators, including employment, point to a return to solid growth in 2016. InCanada, the economys structural adjustment to the oil price shock continues, but is proving to be uneven. Growth in the second quarter of 2016 will be much weaker than predicted because of the devastating Alberta wildfires. The Banks preliminary assessment is that fire-related destruction and the associated halt to oil production will cut about 1 1/4 percentage points off real GDP growth in the second quarter. The economy is expected to rebound in the third quarter, as oil production resumes and reconstruction begins. Inflation is roughly in line with the Banks expectations. Total CPI inflation has risen recently, largely due to movements in gasoline prices, but remains slightly below the 2 per cent target. Canadas housing market continues to display strong regional divergences, reinforced by the complex adjustment underway in the economy. In this context, household vulnerabilities have moved higher. For those of you with variable rate mortgages, this means the payments will remain unchanged.

Housing starts, Resales, and Provincial Spotlight from the Q2 Housing Market Outlook 2016 just released by CMHC

Canada Mortgage and Housing Corporation (CMHC) released this week the Housing Market Outlook -Canada Edition for the Second Quarter of 2016. Theeconomic and housing report provides an outlook for the housing market reflecting the evolution of risks since the fourth quarter of 2015. Here are some highlights from the report. Housing Starts On an annual basis, housing starts are expected to range from 181,300 units to 192,300 units in 2016 and from 172,600 units to 183,000 units in 2017, a slight upward revision from our previous outlook, but a slowdown compared to 2015 when there were 195,535 starts. Resales There were 505,673 Multiple Listing Service (MLS) 2 sales recorded in 2015. Sales are expected to range from 501,700 units to 525,400 units in 2016, but are expected to be in a lower range of 485,500 units to 508,400 units in 2017. Resale Prices The average MLS price is forecast to be between $474,200 and $495,800 in 2016 and between $479,300 and $501,100 in 2017. These levels are higher than the 2015 average price of $442,999. Provincial Spotlight While they expect a slowdown in housing markets at the national level, there will be strong variation in housing-market activity among provinces. Reflecting global economic trends, slower growth in oil-producing provinces (Alberta, Saskatchewan and Newfoundland and Labrador) will be partly offset by stronger GDP growth in British Columbia and Ontario. Oil and natural gas prices remained low in the first quarter of 2016, and while consensus forecast is for oil prices to rise in the future, this is more likely to happen in 2017. Consequently, housing starts in oil-producing regions are expected to continue declining in 2016 before rebounding in 2017. When assembling the outlook, CMHC looked at global as well as Canadian-specific economic conditions. While the global economic growth is expected to slow this year before rebounding in 2016, CMHC predicts Canadas growth is expected to accelerate in 2016, led by manufacturing exports and increased public spending. Employment is expected to increase to 7.2% this year before dropping to 7% in 2017. Employment and net migration gains are expected to be the strongest in British Columbia and Ontario, where it is expected that new housing starts will grow further in 2016, partly offsetting the slowdown in oil-producing economies. In summary, the annual decline in housing starts is expected to be less pronounced in 2017 than in 2016.


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