Kamloops Mortgage Broker

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Canada
Kamloops, BC
Kamloops Mortgage Broker

Ask me how you can save money on your mortgage! Call me anytime 250-571-6678

I have been in business since 2003, and have seen the different trends over the years. Whether you are a first time homebuyer and need the process explained or are a seasoned buyer and would like some innovative products, I am the professional for you. My hours are based on your convenience, and will make the mortgage process as easy and quick as possible.

01/28/2026

Bank of Canada Update 🇨🇦

The Bank of Canada has held its policy interest rate at 2.25%, keeping the prime rate around 4.45%. No change today means borrowing costs for variable mortgages and lines of credit remain steady.

While the rate hasn’t moved, it’s still a perfect time to take stock of your mortgage:

⚫ Are your renewal options optimized?

⚫ Could refinancing or pre-planning save you money down the line?

⚫ Is your mortgage strategy aligned with your short- and long-term goals?

Next rate announcement: March 18, 2026.

Stability today creates clarity for tomorrow, and having a plan in place can make all the difference. Reach out if you want to review your options.

Greg Peace | Mortgage Alliance Kamloops
📞 250 571 6678
✉ [email protected]

10/29/2025

📉 Big News from the BoC
The Bank of Canada has cut its key overnight rate by 25 basis points to 2.25%.

It’s the second straight cut and, for now, the bank says this level is “about right” to keep inflation near its 2% target while supporting economic growth amid global trade headwinds.

📊 What it means:

- Borrowers might see some relief in variable‑rate products.
- But the BoC hinted this may be the last cut for now unless inflation or economic conditions deteriorate further.

10/01/2025

Budgeting for your first home doesn’t have to be overwhelming. Here are 5 simple ways to save and stay on track toward homeownership.

1. Know Your Home Budget – Factor in mortgage, taxes, insurance, and maintenance. Stay realistic.

2. Start Small, Think Big – Even $50–$100 a week adds up over time. Consistency is key.

3. Trim Everyday Expenses – Coffee runs, takeout, or subscriptions, small cuts make a big difference.

4. Avoid New Debt – Big loans or credit card balances can hurt your mortgage approval. Keep it clean.

5. Plan for Hidden Costs – Closing fees, moving costs, and new furniture aren’t included in your mortgage. Budget ahead.

Small steps now make the buying process smoother and more enjoyable.

09/29/2025

Buying your first home is exciting, but there are some common mistakes to avoid.

Don’t skip pre-approval, budget for hidden costs, and think long-term about your home and lifestyle.

Planning ahead can save you stress and money. I’m happy to walk you through each step.

09/26/2025

First-time home buyers, getting pre-approved is the first step to a smooth home buying journey. It helps you know exactly what you can afford, shows sellers you’re serious, and speeds up the buying process.

Reach out if you want to understand how pre-approval works and what documents you’ll need to get started!

09/18/2025

📉 Big news from the Bank of Canada, the key rate has been cut to 2.5%, the first drop since March.

Why the change?
✨ Inflation is easing
✨ Job market is softening
✨ Global trade is slowing

💡 What this could mean for you:
🏡 Lower borrowing costs for new buyers
🔄 Renewals + refinances may see savings
📊 Variable rates could become more attractive

Every mortgage situation is unique, so if you’re curious how this cut affects your strategy, now’s a great time to check in with your Mortgage Alliance professional.

09/08/2025

Annual sturgeon trip in the books! 🎣 Despite the smoke, the Coquihalla stayed open and the weather came through for a beauty weekend on the water. Always a highlight of the year, nothing like battling dinosaurs with good company. Until next time!

08/30/2025

Happy Labour Day Weekend! 🍁

Wishing you a safe and relaxing long weekend filled with good company, great weather, and a chance to recharge. Whether you’re camping, tackling a project, or simply enjoying some downtime, we hope you make the most of it.

Cheers to wrapping up summer on a high note, happy Labour Day!

08/29/2025

You’ve saved for your down payment and found the perfect home, amazing! But don’t forget about closing costs, the extra expenses that come with finalizing your purchase.

Here’s what they typically include:
✔️ Legal fees & disbursements – For your lawyer to review documents and register the mortgage
✔️ Land transfer tax – Varies by province; first-time buyers may be eligible for rebates
✔️ Home inspection/appraisal fees – Helps confirm property value and condition
✔️ Title insurance – One-time fee that protects against title issues
✔️ Prepaid costs – Like property taxes or condo fees if the seller paid ahead
💡 On average, closing costs range from 1.5% to 4% of the purchase price — and having a plan for them avoids last-minute stress.

08/21/2025

🏡 Planning to buy a home?
A strong credit score is key, not just for mortgage approval, but also for getting the best possible interest rates.

Here are 4 simple ways to build and protect your credit score:
1️⃣ Use your credit regularly.
2️⃣ Pay your bills on time.
3️⃣ Keep balances well below your limits.
4️⃣ Maintain a healthy mix of credit types.

Building good credit takes time, but it makes a big difference when you’re ready to buy. If you’d like to know how your credit score could impact your mortgage options, I’m here to help.

08/19/2025

If your home will be owner-occupied, you need 5% down for the first $500,000 of the purchase price and 10% for any amount over $500,000 up to $999,999. If the purchase price is $1,000,000 or more, the minimum down payment is 20%.

According to CMHC’s Mortgage Consumer Survey, most homebuyers are accessing their savings or equity from a previous home for their down payment. Followed by RRSP savings and gifts from family members.

If you have any questions about the down payment options available to you and how to use them, reach out now.

07/30/2025

📢 Bank of Canada Holds Interest Rate Steady at 2.75%

As of July 30, 2025, the Bank of Canada has decided to maintain its overnight rate at 2.75%, marking the third consecutive hold since March. This cautious approach comes amid ongoing trade uncertainties and persistent inflationary pressures. Governor Tiff Macklem emphasized the importance of preventing tariff-related issues from escalating into broader inflation concerns.

For Canadians, this means mortgage rates are likely to remain stable in the short term. However, with economic conditions evolving, it's crucial to stay informed and prepared.

If you're considering buying, refinancing, or renewing your mortgage, now is an excellent time to review your options. Feel free to reach out—I’m here to guide you through the process and help you make the best financial decisions for your future.

Address

322 Seymour Street
Kamloops, BC
V2C2G2

Telephone

+12505716678

Website

http://www.gregpeace.ca/, http://www.mortgagealliance.com/gregorypeace

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