Karen Canning with Financial Advantage

02/25/2025

Canadian's renewing their mortgage in 2025, are preparing for increased strain on monthly finances.

Among those who expect their monthly payment to rise, 81% said the increase would put financial strain on their household. Many of those said they will reduce discretionary spending such as on restaurants and entertainment, or cut back on travel to help cope with the increased costs.

Reach out and discuss what your options are. There are mortgage options that could help you avoid the financial strain of higher rates and getting into the debt loop. Now is the time to get an individual plan and review options.

As more than one million mortgages come up for renewal in Canada this year, a new survey says the majority of those homeowners expect to pay more in their monthly borrowing costs.

02/24/2025

What Does 2025 Have In Store For Mortgages, Retirement And Tariffs? Karen Canning, Your Langley Mortgage Expert Gives Some Insight Into What It May Cost And What Your Options Are When It Comes To Retiring, Refinancing & Renewing Your Mortgage In 2025.

02/21/2025

Many Canadians are facing financial uncertainty with rate renewals, increasing costs, and the looming potential of tariff threats. Managing mortgage payments is a key part of financial stability for most Canadians. Today’s unpredictable climate has many struggling to make long-term and medium-term decisions related to mortgage rates.

Rising Inflation, Newley Imposed Tariff's And Fluctuating Interest Rates Leave Canadian Mortgage Holders Uncertain Of What Lies Ahead. Karen Canning, Your Langley BC Mortgage Expert Discusses The Impact And Uncertainty Facing Canadians And Mortgage Options That Can Help Weather The Storm.

02/20/2025

Overall, Tal says "the next six months will be volatile, not so much because of underlying economic fundamentals, but because of that intentional policy of chaos and confusion, high tariffs in limited corners of the economy, and ongoing fear of future inflation." Canadians need a solid financial plan, creating a mortgage that support that plan is key. Reach and discuss your personal situation to navigate the chaos and worry.

The bad news is Canada is in a recession and facing a period of unprecedented uncertainty. The good news is that the pain will be short lived, and the country is positioned to emerge in a strong position.

02/19/2025

Trump imposed tariffs threaten inflation and the Canadian housing market - find out how this may affect you.

Karen Canning - Mortgage Broker Serving Langley British Columbia - Discusses US Imposed Tariffs & How They May Affect Mortgage Rates, Inflation, And The Canadian Housing Market As A Whole.

09/24/2024

Exciting news for home buyers. These new rules will really help BC home buyers. Lower rates, longer amortizations and a higher home value threshold will open the door to more home owners. Reach out and discuss how they benefit you.

Federal government raises insured mortgage cap to $1.5M, expands 30-year amortizations.

The federal government has unveiled sweeping changes to Canada's mortgage system, calling them the "boldest reforms in decades."

10/12/2023

Just wanted to pass on this article. If you note the GVA has an increase in listings of 28.4%. This is a number to watch.

Increased listings as a result of interest rate hikes, with the bulk of renewals coming in the next two years at significantly higher rates will likely if not definitely increase this trend.

With continued increased listing and a shift to a buyers market we will start to see home prices decrease.

This is significant for those wanting to purchase a home and for those who will want to refinance at renewal.

I would be happy to discuss your situation and see how you can prepare. You can reach me at 604-710-8934 to discuss.

Real estate listings in the country's largest metro areas continued to grow in September while buyer demand is trending downward.

07/31/2023

If your mortgage renewal is coming up, now is the time to speak to a mortgage broker and get some advice and plan for the future. We often only listen to Bank of Canada rate hikes, when the news and media inform us. However fixed rate mortgages move with the bond rate and this is where your eye should be. Call or email and I would be happy to discuss your situation. [email protected] or 604-710-8934

07/25/2023

Has the latest rate hike gone too far? How will that impact BC homeowners renewing and those with growing debt? Call or email me for a personalized analysis, planning ahead with professional advice will help you navigate these turbulent times.

CIBC's Benjamin Tal says that the Bank of Canada has chosen to err on the side of too many hikes rather than too few for one simple reason: its bias towards fighting inflation.

11/30/2022

Great read for those in a variable rate mortgage. Fixed rates have reason to move down, possibly in the high 4% range. Lenders are also offering discounts. So if you are in a variable and want to review options and keep a keen eye on fixed rates, call to discuss. This may be the window you have have been waiting for with pending further increases to variable rates.

With bond yields nearly 60 basis points off their highs reached earlier this month, fixed mortgage rates are slowly following and trending downward.

09/13/2022

Breaking News From Your Mortgage Professions. Bank Of Canada Hikes Over Night Lending Rate To By 50 Basis Points. See How This Affects Your Mortgage With Advice From Your Langley Mortgage Broker Karen Canning.

08/22/2022

https://www.canadianmortgagetrends.com/2022/08/is-canadas-mortgage-stress-test-still-relevant/

Earlier this month, the Bank of England scrapped its mortgage affordability stress test. With mortgage rates presumably approaching their peak for this rate-hike cycle, some are wondering if changes to Canada's stress test are overdue.