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Sarah Davison: Your Grande Prairie Mortgage Specialist

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Canada
Grande Prairie, AB
Sarah Davison: Your Grande Prairie Mortgage Specialist

Mortgages • Advice • Expertise
I'd be delighted to be part of your home financing journey.

06/17/2026

Just a little Father’s Day idea for that hard to buy for dad in your life.

03/13/2026

FIRST TIME HOMEBUYER GST REBATE:
✨ OFFICIALLY LAUNCHED! ✨

After nearly a year of setbacks and process, Bill C-4 received Royal Assent this week which allowed the FTHB New Homebuyer's GST Rebate to become law. It's finally here - so exciting!

WHAT DOES THIS MEAN? Eligible first time buyers purchasing a new home may now receive 100% rebate of GST/HST on home purchase prices up to $1M, or partial rebate on homes priced between $1M - $1.5M. GST is s significant cost included in a new home's purchase price (5%), so a rebate of this cost marks a meaningful improvement in affordability on new homes.

Let's get down to the criteria of this rebate.

YOU MUST BE A FIRST TIME HOMEBUYER:
📎 You are at least 18 years of age
📎 You are a Canadian citizen or permanent resident
📎 You have not lived in a home that you (or your spouse/commonlaw partner) have owned in or outside of Canada in the current or previous 4 calendar years.

YOU MUST OCCUPY IT AS YOUR PRINCIPLE RESIDENCE:
📎 You must be the first to reside in the home at time of occupancy
📎 Home cannot be intended as a rental property

YOU MUST BUY A QUALIFYING HOME:
📎Newly built single family home, duplex, townhouse or condo (special conditions apply to mobile, modular, or floating homes, and homes on leased land)
📎 Substantially renovated homes (90% or more of "liveable areas" must be removed or replaced)
📎 A share in a co-operative housing corporation for use of a unit in a newly built OR substantially renovated co-op

YOUR PURCHASE CONTRACT MUST QUALIFY
📎 Contract must be signed on or after March 20, 2025 and before 2031
📎 Must take possession of the home prior to 2036

There are 5 different rebate application types to choose from depending on your home purchase details. Either yourself or your builder will apply for this rebate on your behalf, so have a conversation about this with your builder.

For further detail and confirmation of criteria, visit First Time Homebuyers' GST/HST Rebate at canada.ca

Drop me a message anytime for more info! 🙂

12/10/2025

✅ NO CHANGE TO PRIME RATE

No revelations here - as widely anticipated, the last prime rate review of 2025 saw prime remain unchanged. This year prime rate decreased four times, for a total of 1.0% reduction. The "pause" Macklem followed through on today is anticipated to last into 2026, with him noting that uncertainty remains elevated.

On the flip side, fixed rates INCREASED last week. 🙁 Why? Fixed rates are based on bonds, not directly on BoC's prime rate like variable rates. Bonds spiked last week mainly due to job stats (180K new jobs in the last three months, but this is a WHOLE other point to pick apart in another post), which created enough pressure to see them rise.

So, what does this mean for you?

✅ No change to rate for variable rate holders
✅ No change to rates on lines of credit/variable rate products
✅ No change to fixed rate holders as you are locked in to your rate for your term's length
✅ If you're in the market to purchase, up for renewal, or are eyeing up a refinance, HOLD YOUR RATES with your broker or bank. Not all rates can be held, but standard rates can be for up to 120 days.

As always, here to help if you need me. 🙂

06/04/2025

🌧 NO CHANGE TO PRIME RATE

This morning's prime rate review wasn't the bright and sunny variety. I could keep it light and spin the positive of no change to prime rate for variable mortgage rate holders, but I think a realistic take is what's important here, even if we don't want to hear it.

Uncertainty. Tiff Macklem used this word no less than 7 times in his opening statement at today's prime rate review. It's no surprise that prime rate did not budge as UNCERTAINTY in so many forms is still plaguing our economic outlook.

Excluding the slight discount from the carbon tax elimination, inflation numbers in April increased, at the same as our unemployment numbers and housing activity worsened. Rising inflation and slowing economy apply two opposing pressures to prime rate, essentially stalemating its movement.

Moving forward, Macklem stressed that the current trade war's unknown tariff outcomes are the biggest cause of uncertainty for our economy. If most tariffs are lifted, we could avoid a recession and inflation would be within the realm we want it to be. If tariffs escalate, Canada could fall into recession and experience further inflation increases. He went on to state that businesses have already inadvertently incurred higher costs by having to go into different markets to find alternative suppliers and our inflation numbers have yet to reflect these costs. In the Q&A portion of the review, Macklem commented that he'd like to see us fortify ourselves more by increasing our "east/west" trade (across our own country by eliminating unnecessary interprovincial hurdles) opposed to "north/south" trade with the US.

See? Not too much sunshine on a federal level - but Grande Prairie always seems to march to its own beat. Yes, rent costs are wild and the grocery store is too... but there are some positives: our housing market is still clipping along, and although it's not a boom, work is still in abundance here in comparison to much of the country. A little bit of local ☀️

Finally, a reminder on what this prime rate announcement means for mortgage holders:

📎VARIABLE RATE HOLDERS: No changes to prime, no change to your rate or payments.
📎FIXED RATE HOLDERS: Prime does not ever directly affect your current term and rate, so no changes for you, either.

How does this affect those looking at new mortgages, renewals and refinances? Let's recap how different rate types work.

📎 Fixed rates are based on bonds. Fixed rates are static and do not change for their entire term. Bonds have been a WILD ride these past months - we saw fixed rates go UP, NOT down last week as yields spiked. As always, HOLD YOUR RATES so you are protected from this for the rate hold period.
📎 Variable/Adjustable rates are based on prime rate. When prime rate moves, your rate moves as well, and depending on whether you are in a true "variable" or an "adjustable", your payment may move with any changes. Prime rate is set by the BoC and based on economic factors as per above. No change to prime today, but it's truly anyone's guess as to whether economic downturn or inflation will push prime up or down from here.

Until next time. 🙂

04/16/2025

🔑BANK OF CANADA: NO CHANGE TO PRIME RATE

We knew it was a coin toss to as to whether prime rate would stay put or drop today, and it didn't budge. Please see my post yesterday on CPI numbers and the contributing factors to inflation's decrease for March. These sentiments remain the same: there is downward pressure on inflation from our weak economy, and upwards pressure from higher costs. These resulted in prime remaining unchanged as we "wait and see" through this mess of an outlook.

How does this effect your current mortgage?

📎VARIABLE RATE HOLDERS: No changes to your rate or mortgage.
📎FIXED RATE HOLDERS: Prime does not ever directly affect your current term and rate, so no changes for you either.

How does this affect those looking at new mortgages, renewals and refinances? Let's recap how different rate types work.

📎 Fixed rates are based on bonds. Fixed rates are static and do not change for their entire term. Bonds have been a WILD ride these past months - we saw bond yields increase about 10 days ago and this had many lenders increase their fixed rates last week. Overall fixed rates have dropped this past year, but with so much economic turmoil we've had many small hikes and dips along the way. As always, HOLD YOUR RATES so you are protected from this for the rate hold period.

📎 Variable/Adjustable rates are based on prime rate. When prime rate moves, your rate moves as well, and depending on whether you are in a true "variable" or an "adjustable", your payment may move with any changes. Prime rate is set by the BoC and based on economic factors as per above. No change to prime today, but it's truly anyone's guess as to whether economic downturn or inflation will push prime up or down from here.

I hope this info helps. There is so much data to run through these days, a post will simply not do this. IF YOU WOULD LIKE A COPY OF TODAY'S MONETARY POLICY REPORT put out by the Bank of Canada, comment REPORT in the comments and I will send it to you. It's a very detailed read that outlines all our current conditions, tariff timeline and details, outlook, the works.

Have a great week!

04/15/2025

⏱MARCH CPI: INFLATION DECREASES⏱

You read that right: Inflation decreased in March, a bit of positive news just ahead of tomorrow's BoC prime rate review.

📎NUMBERS: February saw inflation jump from 1.9% (under the 2.0% target that we want to maintain) to 2.6%. This jump was more than what was speculated and put any further decreases to prime rate in question, with speculation leaning towards prime remaining unchanged and staying in a "wait and see" position. With March CPI numbers out today, INFLATION HAS NOW DECREASED TO 2.3% - a welcome reprieve.

📎CONTRIBUTING FACTORS: Inflation dropped largely due to two things: Gas and travel. Trade concerns have slowed global oil demand and therefore deteriorated gas prices; travel demand has slowed with trade tensions and overall economic downturn. Interestingly, the "BUY CANADIAN" movement also influenced travel data as Canadians cancel US travel and choose other destinations. Meanwhile, food costs have SOARED from 1.3% in February to a whopping 3.2% - largely influenced by the GST/HST break ending. Shelter costs saw the least amount of increase since 2021, influenced by the prime rate cuts we've had this year and also affected by immigration slowing down and decreasing rental housing demand. Overall there are still many underlying inflationary pressures... and grocery shopping is just as wild as ever. 🍎

📎WHAT DOES THIS MEAN? Let's be frank: tomorrow's rate decision is a coin toss. Tariffs are still in question, the federal election looms on the 28th, geopolitical tension is at a high..... we have ourselves a soup sandwich of an outlook. Our crumbling economy calls for a cut, but inflation concerns beg for things to remain unchanged. IF we see a cut, speculation anticipates 0.25%.

I am just as curious as you are to see what tomorrow's monetary policy decision will be - I look forward to posting tomorrow.

02/26/2025

CAN WE TALK CREDIT?

Credit's a personal topic. I've got clients that watch their credit each and every month and achieve that elusive 900 score (I call them "unicorn" scores, as they are rare), and I have clients who have been through some things and are building from square one again. A credit bureau is truly a story - it's a reflection of your financial picture - life successes, changes and challenges and it's ever changing. Wherever your score is, no judgement here.

In all my years of working in finance one thing has been constant: It is SO HARD to find valid, concise info on how credit works. Why is this?? Why is it such a secret? It should be easily found, common knowledge, but it's not. It should be taught in school - again, no such luck. You get conflicting info depending who you ask, and even when you check your own credit score through the numerous companies that provide this service for free nowadays, the score is DIFFERENT than the score a lender gets when they check it. On top of it all, Canadians have TWO credit bureaus to manage - Equifax and Transunion. They should report and operate the same... but they don't. Wild, I tell you.

Today's post is about HOW LONG CREDIT RECORDS REMAIN ON YOUR CREDIT BUREAUS - namely, credit blemishes. Life happens and most of us have made credit missteps, but how long do those remain on display? How long will your financing power be affected by these blemishes? I want to note that this reflects timelines for records to no longer report, NOT how long it takes to rebuild credit thereafter to a place where financing is attractive again - I'll post about that later this week. I highlighted LATE PAYMENTS, the most common credit blemish at the bottom - 6 whole years of record for one late bill, my friends!

I need to give credit where credit is due (see what I did there?) to Richard at The Credit Game : thanks for the awesome refresher today on this topic, you are a credit master!

01/06/2025

⏰ MCAP MORTGAGE HOLDERS:
Check your online portals for the 2025 MyHome Sweepstakes!

MCAP is one of many great mortgage lenders we work with, and their annual sweepstakes are just a little added bonus for their clients.

There is $50,000 in prizes to be won this year: gift cards, property taxes for a year, charity donations and lump sums to your mortgage. It's a pretty great giveaway, and any Mcap mortgage holder may enter so get on it!

Full details here: https://click.email.lenderservices.ca/?qs=88e82056e1335daa264d209665be29b44f95d8cb34bdaddb72ced8262ca03bcb99ef55f82bc843aea761e28107c36d5097732153aac0277c

Good luck!! 💰

12/25/2024

From my family to yours, wishing you and your loved ones a wonderful holiday season!

May the holidays bring you time spent together, connection and joy.

❤️

12/16/2024

So very honoured to have been voted Gold in this year's Community Votes - Mortgages and Brokers category. 2024 was an adventure, and I'm extremely grateful to have experienced it with my wonderful clients, business partners and broker family. I love what I do - thank you for letting me be part of your home and finance journeys!

Much love, GP. ❤️

Address

Quantus Mortgage Solutions
Grande Prairie, AB
T8V0V8

Opening Hours

Monday	8am - 6pm
Tuesday	8am - 6pm
Wednesday	8am - 6pm
Thursday	8am - 6pm
Friday	8am - 6pm

Website

http://www.homewithsarah.ca/

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