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024622
Brad Currie
-Mortgage & Real Estate Specialist
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201-23189 Francis Avenue, Langley, British Columbia
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TODAY's MORTGAGE MARKET offers the consumers many different sources of mortgages and many different options. As a mortgage broker Our commitment is to provide you with options, choices of lenders, interest rates and terms.
We provide objective advice. All mortgage options will have advantages and disadvantages. Our commitment is to help you understand your mortgage options, well beyond the interest rate.
We are able to obtain the best rates from lenders. However, there is more to a mortgage than the interest rate. There are 9 other important factors to consider before choosing a mortgage. Our Commitment is to review all 10 factors when choosing a mortgage with you
We are paid by lenders. The lender you choose for your mortgage financing needs compensates us. There is no cost to you!
Contact us today for a NO COST, NO OBLIGATION consultation and learn about the best lenders, rates and terms in REAL TIME!
BLOG / NEWS Updates
Mortgage Rate Forecast - May 2020
Mortgage Rate Forecast
May 2020
Mortgage rates are expected to remain stable over the coming months. We may see continued reductions to rates are the financial markets begin to stabilize.
The Bank of Canada prime rate remains at %. There has been 3 drops in the Prime Rate in the month of March. Each drop was %. These changes were made as a direct result to add stimulus and support to the anticipated economic challenges caused by the COVID-19. In addition, the Bank of Canada has provided billions of dollars in Quantitative Easing. The purpose it to provide confidence and reduce risk to the participants in the financial markets.
Fixed mortgage rates have been extremely volatile with significant declines in rates, then rapid increases to rates to levels slightly higher than when the pandemic occurred. We are currently seeing fixed term mortgages settled into more normal levels based on more typical cost of funds. Expect fixed rates to remain at current level in the next few months, with a slight bias to declining more.
It is important to remember the economic stress we are experience is due to a health crisis. Once the COVID-19 virus can be effectively managed, our economy will begin to return to pre-pandemic levels.
Brad Currie
604.727.6111
brad@bradcurrie.com
How to tell between a real CRA call and a scam
(NC) Many of us have heard of scammers pretending to be from the Canada Revenue Agency. You may have even received a call or email yourself. But how do you know what you can trust?
Avoiding this common scam is easier when you know what the agency will and wont do. The agency will never threaten you with immediate arrest or jail for a tax debt, and never uses text or instant messaging to communicate about taxes. It will never demand that you settle tax debt by buying gift cards or prepaid credit cards, or using cryptocurrency like Bitcoin, or offer to pay you a refund by e-transfer.
Remain vigilant when you receive communication from someone claiming to be from the CRA, especially when asked for personal information such as a social insurance, credit card, bank account or passport number. If you are unsure that the person on the phone is a legitimate agency employee, ask for the agents phone number and badge number and call 1-800-959-8281 to validate the caller.
If you receive a call demanding immediate payment, take time to think it over. If you believe it was legitimate, you can check the status of your account online.
If you use online or telephone services, you can further protect yourself by keeping your access codes, user ID, passwords and PINs secret, and changing them frequently. Enabling email notifications for online CRA accounts will notify you by email of changes to them, warning you of potentially fraudulent activity.
Finally, suspicious phone calls or messages can be reported to the Canadian Anti-Fraud Centre online or by telephone. If you think you have fallen victim to a scam, contact your local police.
Find more information at canada.ca/taxes.
www.newscanada.com
Home prices accelerate in February
In February the TeranetNational Bank National Composite House Price IndexTM was up 0.5% from the previous month, an acceleration from the January increase after three consecutive months of slowing. The advance was led by four of the 11 constituent markets: Halifax (2.3%), Hamilton (1.1%), Vancouver (0.8%) and Quebec City (0.7%). Rises of less than the countrywide average were reported for Montreal (0.5%), Victoria (0.4%), Calgary (0.4%) and Toronto (0.4%). The index for Winnipeg was flat on the month. Down from the month before were the indexes for Edmonton (0.1%) and Ottawa-Gatineau (0.5%). After three months, from September to November last fall, in which all 11 markets of the composite index were up from the month before, February was a third consecutive month in which one or more markets were down on the month.
The February rise is consistent with the increase in the number of home sales over the last several months reported by the Canadian Real Estate Association. For a sixth straight month, the number of sale pairs entering into the 11 metropolitan indexes was higher than a year earlier. The unsmoothed composite index, seasonally adjusted, was up 1.1% in February, suggesting that the uptrend of the published (smoothed) index could persist.
Source: National Bank
