Category: Announcements (94 posts)
Banks expect deferred mortgages to resume payments now
September 18, 2020 | Posted by: Patrick Mulhern
Major banks anticipating resumption of most mortgage payments Some of the largest Canadian banks expressed confidence that most borrowers who took on deferrals for their mortgages will be able to r ... [read more]
FICOM winding down special treatement to banks offering deferrals
September 8, 2020 | Posted by: Patrick Mulhern
Banking watchdog winding down special treatment for COVID-19 mortgage deferrals Will no longer let lenders treat deferred loans as if they are still being paid back Author of the article: ... [read more]
Mortgage Deferral links
April 8, 2020 | Posted by: Patrick Mulhern
As you most likely have heard, lenders and governments (provincial and federal) have come up with plans to assist those who are struggling financially during COVID-19 pandemic. Clic ... [read more]
Lenders pull together to help Canadians with mortgage payment relief
March 18, 2020 | Posted by: Patrick Mulhern
Big banks promise mortgage help for Canadians as Ottawa set to announce $25B in COVID-19 relief Mortgage, rent help could be part of federal package to be announced Wednesday Natalie Nanows ... [read more]
Qualifying Stress Test rate decreased for the 1st time since its inception
July 19, 2019 | Posted by: Patrick Mulhern
Qualifying Mortgage Rate Falls For First Time Since B-20 Intro The interest rate used by the fede ... [read more]
Bank of Canada says low rates could stay around for a while
April 26, 2019 | Posted by: Patrick Mulhern
Bank of Canada holds interest rate steady, hints low rates could stick around Pete Evans · CBC News · Posted: Apr 24, 2019 10:20 AM ET | Last Updated: April 24 Stephen Po ... [read more]
Budget 2019 - 2 housing incentives
March 19, 2019 | Posted by: Patrick Mulhern
Buying a home? CMHC could soon kick in 10% of the cost - for a price The government is earmarking $1.25B over three years for something it's calling a 'shared equity mortgage' Pete E ... [read more]
BC assessments have been mailed out
January 8, 2019 | Posted by: Patrick Mulhern
B.C. Assessment releases property assessments for Vancouver by Duffie Osental 03 Jan 2019 Crown property assessor B.C. Assessment recently released its property assessm ... [read more]
Poloz says rates to rise at an appropriate pace
November 6, 2018 | Posted by: Patrick Mulhern
World economy strong enough to withdraw stimulus, Poloz says Governor of Bank of Canada aiming for 'neutral' bank rate of 2.5-3.5%, but doesn't say how soon Andy Blatchford · The Canadian ... [read more]
Bank of Canada - holds rates.... for now
May 30, 2018 | Posted by: Patrick Mulhern
BANK OF CANADA CLARS WAY FOR JULY RATE HIKE, WARNS OF NEED TO ACT TO TEMPER INFLATION Ottawa Published May 30, 2018 Updated 1 hour ago Canada’s central bank has cleared the way fo ... [read more]
BC Budget Changes relating to real estate
February 22, 2018 | Posted by: Patrick Mulhern
BC Government Budget February 2018 ADDITIONAL PROPERTY TAX FOR FOREIGN ENTITIES AND TAXABLE TRUSTEES Has gone from 15% to 20%, effective today. Contracts written before Feb. 20, 2 ... [read more]
Equifax data breach
September 14, 2017 | Posted by: Patrick Mulhern
Equifax hack said to affect only Canadians with U.S. dealings Undisclosed number of Canadians affected in hack that took data on 143 million U.S. consumers The Canadian Press Posted: Sep 1 ... [read more]
Mortgage Delinquency rates low - Good news
June 13, 2017 | Posted by: Patrick Mulhern
Mortgage delinquency rates low in Toronto, Vancouver despite high prices: CMHC CBC News Posted: Jun 13, 2017 11:20 AM ET Last Updated: Jun 13, 2017 11:20 AM ET At the end of 2016, the national ... [read more]
CMHC announces increase in premiums effective March 17, 2017
January 18, 2017 | Posted by: Mulhern Mortgages
... [read more]
1st Time Home Buyer's Loan starts today
January 18, 2017 | Posted by: Mulhern Mortgages
... [read more]
NEWS RELEASE: BC Government First Time Home Buyer's Loan program
January 17, 2017 | Posted by: Mulhern Mortgages
... [read more]
Bank of Canada - No change expected until 2018
October 19, 2016 | Posted by: Patrick Mulhern
&n ... [read more]
CMHC Issues Red Alert - Dr. Sherry Cooper's enlightening commentary
October 16, 2016 | Posted by: Roar Solutions
... [read more]
Bank of Canada and TD economist say rates are not going up anytime soon
September 20, 2016 | Posted by: Patrick Mulhern
... [read more]
Vancouver's Mayor proposes a new empty home tax
September 14, 2016 | Posted by: Patrick Mulhern
... [read more]
Economic slowdown states Dr. Sherry Cooper
August 31, 2016 | Posted by: Patrick Mulhern
... [read more]
Changes to Property Transfer Tax
July 26, 2016 | Posted by: Patrick Mulhern
On July 25th the Provincial Government announced it is increasing the tax for Foreign buyers. Effective August 2nd. Here are the deta ... [read more]
Bank of Canada - no surprise.... no change
July 13, 2016 | Posted by: Patrick Mulhern
... [read more]
What Does Brexit Mean for Canada - Low rates to remain
June 24, 2016 | Posted by: Patrick Mulhern
What Does Brexit Mean for Canada? By: Dr Sherry Cooper ... [read more]
Why are people taking money out of China?
June 1, 2016 | Posted by: Patrick Mulhern
Will Chinese Capital Continue to Pour Into Canadian Real Estate? Why Are People Taking So Much Money Out of China? ... [read more]
City of Vancouver advance property tax deadline is Feb 2/16
February 2, 2016 | Posted by: Patrick Mulhern
... [read more]
Government announces change to down payment requirement
December 11, 2015 | Posted by: Patrick Mulhern
Liberals move to cool hot housing markets with new down payment rules Tamsin McMahon and Bill Curry Published Friday, Dec. 11, 2015 9:41AM EST The Liberal governmen ... [read more]
CMHC Report on the health of the housing market - Vancouver not a major concern
October 29, 2015 | Posted by: Patrick Mulhern
In CMHC's report issued yesterday, Vancouver only shows “weak evidence of problematic conditions”. Main concerns of problematic conditions are: ... [read more]
Property tax assessments will increase in 2016
October 16, 2015 | Posted by: Patrick Mulhern
Metro Vancouver assessed home values set to take off in 2016 Changes will be ‘highest increases we’ve seen for many years’ By Kevin Griffin, Vanco ... [read more]
Postive News for First Time Home Buyers
August 12, 2015 | Posted by: Patrick Mulhern
Positive News for First-Time Homebuyers… We welcome the Conservative Government’s announcement today proposing to increase the RRSP Home B ... [read more]
US Fed Reserve rate no change. Good for Rates in Canada
July 30, 2015 | Posted by: Patrick Mulhern
Fed points to improved job market, but leaves rates unchanged Business investment and exports still lacklustre, while inflation is too low CBC News Posted: Jul 29, 2015 12:45 ... [read more]
Brokers have had access to better rates than BMO's announcement today for over a month!
March 17, 2015 | Posted by: Patrick Mulhern
I have to laugh at BMO and the media. Brokers have had access to rates better than this for over a month now. Pat ________________________________________ ... [read more]
Vancouver Property taxes due today, Feb 3/15
February 3, 2015 | Posted by: Patrick Mulhern
Vancouver Property tax payments, help, and information When are property taxes due? Property taxes are due twice a year in Vancouver: The second business da ... [read more]
BC Assessment Notices
January 6, 2015 | Posted by: Patrick Mulhern
This week home owners will be receiving their BC Assessment statements. If you wish to appeal the value there are instructions on the back of the statement on how to do t ... [read more]
CMHC Dealine is May 1st
April 24, 2014 | Posted by: Patrick Mulhern
On February 28th CMHC announced an increase to CMHC insurance premiums. Effective May 1st the premiums will increase on residential insured mortgages. Lenders have ... [read more]
CMHC increases mortgage insurance premiums starting May 1, 2014
February 28, 2014 | Posted by: Patrick Mulhern
CMHC hikes mortgage insurance premiums Just announced today, CMHC, Canada's national housing agency increased the amount of money that homeowners with less than 20 per cen ... [read more]
Property Transfer Tax Exemption Increase
February 18, 2014 | Posted by: Patrick Mulhern
The government has announced, effective February 19, 2014, under the Property Transfer Tax (PTT) First-Time Home Buyers’ Exemption program, qualifying first-time buyers can buy a hom ... [read more]
City of Vancouver advance property Tax payment due date
February 4, 2014 | Posted by: Patrick Mulhern
Home > Home, Property, and Development > Property tax and utilities > Property tax > Paying your taxes > Due dates Share on pr ... [read more]
BC Assessment Appeal Process: Deadline is January 31,2014
January 16, 2014 | Posted by: Patrick Mulhern
BC Assessment Appeal Process: Deadline is January 31,2014 A very Happy New Year, We hope you enjoyed the holiday season. BC Assessment released their 2013 property ass ... [read more]
Prediction for stable real estate market in 2014
January 8, 2014 | Posted by: Patrick Mulhern
Metro Vancouver housing market expected to remain stable in 2014 Wild price swings are a thing of the past, economists say By DERRICK PENNER, Vancouver Sun January 4, 2014 Ho ... [read more]
Bank of Canada - No change............ again.
December 6, 2013 | Posted by: Patrick Mulhern
Bank of Canada Interest Rate Announcement - December 4, 2013 The Bank of Canada once again opted to maintain its target for the overnight rate at 1 per cent. In its accompanying statement, the Bank h ... [read more]
High Ratio insurance premiums could soon increase.
December 3, 2013 | Posted by: Patrick Mulhern
Insurance cost for borrowers who are looking at financing greater than 80% on a purchase could soon increase. Pat ------------------------------------------------------------------------------------ ... [read more]
Multi family vs single family rental invesmtent
November 27, 2013 | Posted by: Patrick Mulhern
Multi-Family Housing Makes Dollars and 6 Kinds of Sense For Investors by MBN | 26 Nov 2013 Client Question: My partner and I own six rental houses and a duplex. We wa ... [read more]
With inflation below 1.0% no rate increases in sight
November 25, 2013 | Posted by: Patrick Mulhern
With inflation below 1%, prospects for higher interest rates recedes further By Julian Beltrame, The Canadian Press | The Canadian Press – Fri, 22 Nov, The Canadian ... [read more]
Bank of Canada governor states Housing Market is not in a bubble
November 22, 2013 | Posted by: Patrick Mulhern
BoC chief Stephen Poloz says Canadian housing market not a bubble, predicts soft landing 2013-11-21 Julian Beltrame, Canadian Press OTTAWA — Canada’s housing market is n ... [read more]
Vancouver home sale are up, prices stable
November 7, 2013 | Posted by: Patrick Mulhern
Vancouver home sales climbing, prices stalled Republish Reprint Garry Marr | 04/11/13 1:34 PM ETMore from Garry Marr | @DustyWallet Arlen Redekop/Postmedia News filesTh ... [read more]
Facts and Halloween Trivia
October 31, 2013 | Posted by: Patrick Mulhern
10 facts Halloween candy sales average about $2 billion annually in the United States. Reese’s Peanut Butter Cups rank as the most popular Halloween candy, fo ... [read more]
Government won't intervene in the real estate market..... for now.
October 29, 2013 | Posted by: Patrick Mulhern
Flaherty to meet developers, but won’t interfere in housing market for now BILL CURRY and TARA PERKINS OTTAWA and TORONTO ... [read more]
Bank of Canada - no change today
October 23, 2013 | Posted by: Patrick Mulhern
Bank of Canada cuts economic outlook, drops rate hike signal BARRIE McKENNA OTTAWA — The Globe and Mail Published Wednesday, Oct. 23 2013, 1 ... [read more]
Why Canada is in no rush to raise rates
October 11, 2013 | Posted by: Patrick Mulhern
Canada has little to fear from unconventional Fed policy: IMF KEVIN CARMICHAEL WASHINGTON — The Globe and Mail Published Monday, Oct. 07 2013, 1:57 PM EDT Reflec ... [read more]
Booming Vancouver housing market a matter of opinion!
October 3, 2013 | Posted by: Patrick Mulhern
Mortgages & Real Estate Booming Vancouver housing market a matter of opinion Republish Reprint Garry Marr | 02/10/13 1:49 PM ET Ian Lindsa ... [read more]
Canadian Real Estate Wealth Magazines top 100 neighbourhoods
October 2, 2013 | Posted by: Patrick Mulhern
Read this article while waiting in line at the grocery store. Some of Vancouver's neighbourhoods were listed. Check it out. Pat Rocky Mountain House. Brossard South. D ... [read more]
Record sale in Vancouver market
September 27, 2013 | Posted by: Patrick Mulhern
Record $40-million sale of Vancouver condos to Middle Eastern royal signals housing market is peaking Katia Dmitrieva, Bloomberg News | 20/09/13 | Last Updated: 20/09/13 12:48 PM ETMor ... [read more]
Are you house rich or house poor?
September 18, 2013 | Posted by: Patrick Mulhern
Are you house rich or house poor? Jason Heath | 17/09/13 2:57 PM ET More from Jason Heath According to Statistics Canada, about one-quarter of Canadians ... [read more]
Vancouver Real Estate sales increase but prices stable
September 5, 2013 | Posted by: Patrick Mulhern
CBC NEWS Sale increase in Vancouver but prices stable. Fixed rate mortgage terms increasing with some lenders tomorrow. Pat ------------------------------------------------------------------ ... [read more]
Bank of Canada - no change in rates today
September 4, 2013 | Posted by: Patrick Mulhern
Bank of Canada announced today that is will once again hold rates steady at 1.0%. Expectations that the Bank Rate will remain constant until the 1st quarter of 2013. In the meantime, long term ... [read more]
Why are Canadian mortgages rising?
August 30, 2013 | Posted by: Patrick Mulhern
Why are Canadian mortgages rising? And how far could they go? One after the other, Canada’s big banks have all hiked-up mortgage rates this week. Why? In large part, it has to do with ... [read more]
Vancouver prices up 13.5% year over year
August 15, 2013 | Posted by: Patrick Mulhern
Sales edged up 0.2 per cent from June to July, CREA said in its monthly report on market activity, while the number of new homes listed dropped slightly by 0.4 per cent from June to ... [read more]
Strong July Home sales in Vancouver
August 7, 2013 | Posted by: Patrick Mulhern
Strong July home sales in Vancouver, Toronto show market picking up steam TARA PERKINS - REAL ESTATE REPORTER The Globe and Mail Published Friday, Aug. 02 2013, 8:07 AM EDT ... [read more]
Vancouver real estate prices increasing - no correction here
July 26, 2013 | Posted by: Patrick Mulhern
Metro Vancouver resale real estate market makes gains By TIFFANY CRAWFORD, VANCOUVER SUN July 23, 2013 The average price of a home in Vancouver has gone up, as the Metro Van ... [read more]
Bank of Canada - No change
July 17, 2013 | Posted by: Patrick Mulhern
No change to the BoC rate of 1.0% at today’s announcement. Rate has been the same since September 2010. Economist are predicting this rate to stay the same until late 201 ... [read more]
BMO economist states no threat of real estate meltdown
July 16, 2013 | Posted by: Patrick Mulhern
Canadian housing market rebounds as prices rise Average home price increased 4.8% over a year ago, CREA says CBC News Posted: Jul 15, 2013 11:17 AM ET Home sales in Canada fell ... [read more]
All eyes on new Bank of Canada's Governon this Wednesday
July 15, 2013 | Posted by: Patrick Mulhern
They say this may decision might label him for the balance of his reign. Hopefully for our industry he will provide some indication that he is not in any hurry to raise rates.&nbs ... [read more]
Reason why Brokers do not like clients to cancel
July 10, 2013 | Posted by: Patrick Mulhern
Reason why borrowers should not use brokers to get better rates and then go back to their bank. Please read, Pat ____________________________________________________________________________ ... [read more]
Homes sale in Vancouver up in June
July 4, 2013 | Posted by: Patrick Mulhern
Here is an article in the news today. Pat _____________________________________________________________________________________ Home sales in Greater Vancouver rose 11.9 per cent in June, accord ... [read more]
Top 10 reasons to visit Canada. Happy Canada Day
July 1, 2013 | Posted by: Patrick Mulhern
Top 10 Reasons to Travel to Canada1. Canada Rated the BEST Place to Live! Every year since 1994, the United Nations has rated Canada as the best country in the world to live in. 2. Prosperit ... [read more]
Another Rate Increase. We still have 5 year at 3.14% available
June 30, 2013 | Posted by: Patrick Mulhern
Big banks ratcheting up mortgage rates again Royal Bank the latest to hike cost of discounted fixed-rate mortgages CBC News Posted: Jun 28, 2013 2:43 PM ET Last Updated: Jun 28, 2013 7:41 PM ... [read more]
Should you rely on a broker for a great mortgage? Or call around yourself?
June 21, 2013 | Posted by: Patrick Mulhern
Sure you can call the non broker lenders yourself to get a great rate quote, but willthey tell you the pitfalls of their collateral charge? That they add your discountback into your ird rate or that y ... [read more]
Canadian Real Estate market is healthy
June 18, 2013 | Posted by: Patrick Mulhern
Mortgages & Real Estate | 2013 housing sales off to better start than expected Canadian Press | 13/06/17 | Last Updated: 13/06/17 4:06 PM ET More from Canadian Press Getty ... [read more]
Why Rising Mortgage Rates won't tank the housing market
June 17, 2013 | Posted by: Patrick Mulhern
Good article showing that higher rates does not mean devastation to the real estate market. Pat ____________________________________________________________________________________________ Why risi ... [read more]
Canadian non-mortgage debt shows biggest quarterly decline since 2004
June 5, 2013 | Posted by: Patrick Mulhern
Canadian non-mortgage debt shows biggest quarterly decline since 2004 OTTAWA - New data on consumer credit suggests Canadians are becoming more cautious aboutmaking purchases that involve taking on d ... [read more]
No Change in the Bank of Canada Rate today
May 29, 2013 | Posted by: Patrick Mulhern
To know one’s surprise, Bank of Canada held the Bank Rate steady again. No change since September 2010. TD Economist expects the Bank Rate to remain until the end of 2014. &nb ... [read more]
Canada ranked #3 best place to live!
May 28, 2013 | Posted by: Patrick Mulhern
Canada picked among best places to live OECD ranks Canada highly across a number of categories The Canadian Press Posted: May 28, 2013 8:49 AM ET An OECD ranking of coun ... [read more]
6 Things you think add value to your home................... but really don't!
May 21, 2013 | Posted by: Patrick Mulhern
6 Things You Think Add Value To Your Home - But Really Don't Jean Folger | Investopedia – Sun, 12 May, 2013 Every homeowner must pay for routine home maintenance, such as replacing w ... [read more]
Help Reduce the Property Transfer Tax
May 13, 2013 | Posted by: Patrick Mulhern
The Real Estate Board of Vancouver is making a plea to the provincial government to change the way the Property Transfer Tax is calculated. As you may recall, unless you were a first time home ... [read more]
When will prices for real estate along transit be a premium?
April 30, 2013 | Posted by: Patrick Mulhern
Do you think we will see a time in Vancouver when properties close to transit actually command a higher price? I like this concept. Pat Stuck in traffic: How mortgag ... [read more]
What a lender considers when looking at your application
April 26, 2013 | Posted by: Patrick Mulhern
Ever wonder how a lender looks at your mortgage application? By Lisa J. Gryba | GoldenGirlFinance.com – Mon, 15 Apr, 2013 Lenders are in business to make money...not lose it. Consequently, wh ... [read more]
Which city has title to top luxury market, not Vancouver!
April 23, 2013 | Posted by: Patrick Mulhern
A survey released by Sotheby’s International Realty Canada suggests foreign buyers are helping drive growth in luxury home sales across key Canadian markets, especially Montreal. Wh ... [read more]
CRA tageting condo flippers
April 22, 2013 | Posted by: Patrick Mulhern
Get ready condo flippers, Canada Revenue Agency ishunting you Garry Marr | 13/04/20 | Financial Post You just sold your condo, you made a hefty profit and know you have to pay your taxes.The bill mi ... [read more]
Bank Rate holds steady at 1.0%
April 17, 2013 | Posted by: Patrick Mulhern
Bank of Canada held its trend setting rate steady at 1.0% again this month. Said, weaker than expected growth will keep rates these historic low rates around for a while. Some eco ... [read more]
All eyes on the Housing Market
April 16, 2013 | Posted by: Patrick Mulhern
At Bank of Canada, all eyes on housing market Kevin Carmichael The Globe and Mail PublishedMonday, Apr. 15 2013, 6:18 PM EDT When Finance Minister Jim Flaherty tightened home lending ... [read more]
NEW GST RULES
April 10, 2013 | Posted by: Patrick Mulhern
As we all now as of April 1st we have gone back to GST vs HST. So, just as you were getting comfortable with all the changes in HST over the inception in July 2010. Spagnuolo & ... [read more]
Home prices ede up in Most Markets
April 5, 2013 | Posted by: Patrick Mulhern
Home prices edge up in most markets, Royal LePage says CBC News Posted: Apr 4, 2013 1:04 PM ET Home prices are still rising in most markets in Canada, according to the ... [read more]
What's your tenant profile?
April 5, 2013 | Posted by: Patrick Mulhern
March 26, 2013 · 5:56 pm What’s your tenant profile? For you landlords, here are words of advice. Pat ___________________________________________________________ What’s yo ... [read more]
New common Law rules in BC
April 5, 2013 | Posted by: Patrick Mulhern
March 19, 2013 · 3:51 pm New common Law rules in BC Common-law couples as good as married in B.C. Family Law Act says common-law couples considered spouses after two years CBC News Po ... [read more]
Vancouver & Toronto best opportunity for growth
April 5, 2013 | Posted by: Patrick Mulhern
Vancouver and Toronto best opportunity for growth TD Bank economist predicts modest growth over the next 10 years. Best opportunity for growth is Vancouver and Toronto. Pat _______ ... [read more]
Home ownership in Canada more affordable now
April 5, 2013 | Posted by: Patrick Mulhern
March 2, 2013 · 1:39 am Home ownership in Canada more affordable now Home ownership affordability in Canada is better now versus last year due to historic low rates. Pat ______________ ... [read more]
Rate Hike Delayed
April 5, 2013 | Posted by: Patrick Mulhern
January 23, 2013 · 5:14 pm Rate hikes delayed as Bank of Canada cuts forecast Great news for borrowers. Bank of Canada Governor announced today that there will be a delay in ... [read more]
Canadian housing solid
April 5, 2013 | Posted by: Patrick Mulhern
Canadian housing solid despite slowdown to mortgage lending: RBC TORONTO — The Canadian Press Published Tuesday, Jan. 08 2013, 11:59 AM EST Last updated Tuesday, Jan. 08 2013, ... [read more]
Angels’ spread holiday cheer to homeless
March 13, 2013 | Posted by: Patrick Mulhern
Volunteer group distributes winter clothing, toiletries in Vancouver, three other B. C. cities People without a home this holiday season received a little cheer last night when “angels” d ... [read more]
Welcome
January 24, 2012 | Posted by: Roar Solutions
Welcome to my new Website. I hope you find the information interesting. Should you have any questions, please feel free to contact me. ... [read more]
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