February 2019 - Synergy Mortgage

24Feb

Buying costs

[December 18, 2018 - Real Estate Board of Greater Vancouver] If you’ve decided to buy a home, it’s important you understand all the costs involved in addition to the price you're paying for the property. Mortgage applicationLenders may charge a mortgage application fee, which will vary depending on the lending institution. Mortgage insuranceThe federal government requires high-ratio mortgages with less than 20% down payment to be insured against default. The cost ranges between 0.60 to 3.85 per cent of the mortgage amount which [...]

Mortgage Education Centre

10Feb

Uneasy Year of the Pig arrives for China – dependant BC companies

[BIV - February 4, 2019] Chinese New Year dawns on a jittery business landscape as Huawei dispute casts uncertainty over access to overseas markets. Not only is Chinese New Year one of the local community’s most celebrated holidays, it is also typically the time for B.C. businesses – especially those with ties to the Chinese market – to celebrate a year of gains while looking optimistically at the potential of more in the coming year. 2019, however, is not a typical year. [...]

British Columbia, Canada, Economic Outlook

10Feb

OSFI under pressure by banks, industry lobbyists to ease mortgage stress test: sources

[Financial Post - February 4, 2019] Supporters of easing say the stress test should be flexible and adjusted to account for interest rate moves and market conditions. TORONTO — Canada’s main financial regulator is coming under increasing pressure from banks and mortgage industry lobbyists to ease a stress test designed to cut out risky lending, but the regulator is expected to hold off on changing the rules, three sources with direct knowledge of the matter told Reuters. Proponents of a change say [...]

Canada

10Feb

BC Home + Garden Show: Find everything you need to know for your next big project

[Vancouver Sun - February 9, 2019] The BC Home + Garden show, February 20 - 24 at BC Place is brimming with projects to revamp your living space, big or small. It doesn’t matter how many times it’s happened before: Every time the BC Home + Garden show opens, show manager Tyson Kidd feels a mix of excitement and satisfaction at a job well done. “We really try to keep ourselves dialled in to what’s fresh and exciting,” he says. “We work [...]

Home Design + Decor, Remodel + Renovation

10Feb

These were the 3 biggest Vancouver real estate trends of 2018

[Daily Hive - January 24, 2019] If nothing else, 2018 was an interesting year for Vancouver real estate. While the three preceding years had seen the real estate market in Vancouver increase in competitiveness, March of 2018 brought an abrupt and sudden change in both demand and supply. 2018 also saw both increases to the foreign buyers’ tax and the introduction of the empty home tax — placing additional pressure on demand. We talked to real estate expert Shawn Brown of West Haven Group to [...]

Vancouver Real Estate

07Feb

Metro Vancouver home prices to bottom in 2019 and then bounce back: forecast

[BIV - January 21, 2019] Home prices in Metro Vancouver may slide further in 2019 but then will recover as demand continues and supply remains constrained, according to a panel of developers at a 2019 forecast event. Speaking at the Urban Development Institute’s annual Forecast Luncheon on January 17, Neil Chrystal, president and CEO of Polygon Homes, said, “This year, the single-family home market will remain slow, and experience further price corrections…. In order for prices in the multi-family market to stabilize, [...]

Economic Outlook, Vancouver Real Estate