Pauline Tonkin at BlueTree Mortgages West

04/16/2025

As expected the Bank of Canada holds the overnight lending rate today. No change to variable rate mortgages or lines of credit rate.

02/17/2025

From my family to yours - not just today--- always.....

02/11/2025

Buying RENT TO OWN Presale condo. When it comes time to take possession as the owner after the rental period ends - financing options are dependent on how the agreement was set up. Check with your independent mortgage broker long before the contract completion date.

If you plan to assign the property to another buyer at completion - there can be GST implications. The developer and your realtor may defer to your mortgage broker or your lawyer on these details. Always consult your independent mortgage broker and/or lawyer long before the completion date to ensure you are properly prepared.

01/29/2025

Bank of Canada reduces the overnight lending rate by .25%. Lenders should drop the Prime Rate by the same to 5.2% which will lower the cost on variable rate mortgages and lines of credit.

This does not change the pressure on fixed rates to rise. Those are tied to the bond market and impacted by the current leadership in the US economy.

Talk to your independent mortgage broker about what is happening with rates and financing options to help you make informed decisions.

10/23/2024

https://sherrycooper.com/articles/bank-of-canada-preview-is-a-big-cut-on-the-way/

As expected .5% rate drop in the Bank of Canada overnight lending rate. In turn the banks dropping the Prime rate by .5% to 5.95%. This will help people with variable rate mortgages and lines of credit lower their cost of borrowing.

Fixed rate continue for a bit of upward pressure. So the spread between the fixed and variable is now smaller

A good time to talk with your independent mortgage broker about your situation and a plan moving forward.

The Bank of Canada is set to make its penultimate interest rate decision of the year this morning – and an oversized cut of 50 basis points is likely, according to Dominion Lending Centres chief economist Sherry Cooper.

10/16/2024

Government rules for mortgage financing take effect Dec 15,2024

Reach out any time with questions or to review how this will impact you

Government sets new rules to help first-time home buyers

10/14/2024

From our family to yours hope you are having a lovely Thanksgiving weekend.

Delicious dinner with family and friends and a boat ride in the sunshine --- very thankful!

07/04/2024

Happy 4th of July to our neighbours to the south and those who live in Canada!

06/16/2024

To all the Dad's whatever your situation or story - you are appreciated. Enjoy your special day!

06/05/2024

The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization.

Details to follow as we talk with our economist friends about what this means and what we may expect moving forward.

As always reach out to me with any questions and options for your mortgage financing now or looking ahead at next year.