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The Mortgage Centre, Peak to Peak Mortgage

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09/17/2026

Down Payment Verification Tips

Due to Canada's anti-money laundering laws, Canadian financial institutions need a paper trail to verify the source and availability of your down payment funds. All large deposits, including transfers between your own accounts, need to be verified. Here are some tips for your paperwork to make it easier for you when the time comes:

- Have a 3-month bank statement history available from each account you plan to use for the down payment + closing costs. These may be accounts such as your RRSP, Savings, TFSA, and FHSA.
- The bank statements must be full (all pages), and in pdf format.
- Statements cannot be redacted in any way.
- Cell phone screenshots are not accepted.
- Minimize transfers between your accounts until your down payment has been signed off by the lender. *** This is important. ***
- If you have a large deposit from the sale of a vehicle, or another asset, keep the Bill of Sale, and a photo copy of the bank draft if one is available. Keep any and all paperwork that confirms the sale of the asset.
- If part of the down payment is coming from a Family Gift, the lender will have their own gift letter that will need to be used. The lender will also eventually need confirmation that the gift funds have been deposited to your account.
- If there are any funds being wired to you, keep a copy of the wire transfer. The bank may ask for a copy of the bank statement showing the funds coming out of the origination account, and a statement or transaction history showing the funds going in, as well as the wire transfer document.

09/16/2026

Thinking of buying a home this Fall? Get your rate guarantee in place as quickly as possible. A pre-approval can hold a rate for up to 130 days and will let you know the price range that you can shop in. You will always receive the lower of your pre-approved rate, or the current rate, with no obligation.

09/02/2026

No changes to the prime rate in this morning’s Bank of Canada announcement. The next scheduled rate setting is October 28th. In summary, from the bank’s announcement: “CPI inflation has been hovering around 3% in recent months, mainly because of persistently higher gasoline prices. So far, there has been little evidence of higher energy prices spreading to other components of inflation: excluding gasoline, inflation was 2.2% and measures of core inflation remained close to 2% in July. However, with the Middle East conflict still ongoing and little progress reopening the Strait of Hormuz, upside risks to the Bank’s inflation forecast have increased. The longer that high oil prices and elevated refinery margins persist, the greater the risk of spillover to the prices of other goods and services. New US tariffs and Canadian counter-tariffs will also raise costs for some businesses and could feed into consumer prices over time.

With the economy and inflation evolving broadly as forecast in the July MPR, Governing Council agreed to leave the policy rate unchanged. However, the upside risks to inflation have increased, while new tariffs make growth prospects more uncertain. Governing Council will assess the sustainability of the economic rebound and the outlook for inflation, and is prepared to adjust monetary policy as needed. The Bank remains committed to maintaining Canadians’ confidence in price stability through this period of global upheaval.”

08/17/2026

Here are the latest inflation figures from Stats Canada for July. The chart is based on the Bank of Canada’s preferred measures. Despite the tariffs and the higher price of gas, our inflation numbers are relatively stable.

06/22/2026

Here are the latest inflation figures for May from Stats Canada based on the Bank of Canada’s preferred measures. CPI Common is up slightly due to higher gas prices, and fresh fruit & vegetables. Given global circumstances, I think these are ‘reasonable’ stats that don’t indicate an inflation fire. Hopefully the Bank of Canada takes the same view.

05/21/2026

Here are the latest inflation figures from Stats Canada for April 2026. These are based on the Bank of Canada’s preferred measures, and they are all reporting lower than the March figures despite soaring Transportation costs. Even though these softer inflation numbers are not technically in ‘rate increase territory’ we are still seeing volatility with the bond yields. The potential for higher future inflation is knocking out hopes for prime rate decreases for the remainder of the year, and depending on who you listen to, may still encounter prime rate increases. If you are looking to buy a home or have your mortgage coming up for renewal, it is a good idea to get a rate guarantee in place. If rates happen to come down, you will always get the lower rate, but if they go up, you will be protected.

05/11/2026

Recent feedback from a client that I assisted with a buyout due to a marital separation:
"Thank you so so much for all your effort and kindness throughout this process. I am truly so thankful as I sit in my house and feel at home."
Providing compassion and empathy can make a big difference when supporting clients through emotionally charged financial changes, and difficult life situations. I always try to put myself in my clients' shoes to find solutions and provide the service that is needed.

04/20/2026

Here are the latest inflation figures from Stats Canada for March. Food and transportation costs showed the highest increases in every region in Canada. Based on the Bank of Canada’s preferred measures, the figures are still lower than what was reported for December and January.

04/08/2026

Lovely catch up with Lisa Matthew from Mortgage Centre Canada ❤️.

03/18/2026

No changes to our prime rate in today’s Bank of Canada announcement. The next rate setting is April 29th. In summary, the Bank noted “With recent data pointing to weaker economic activity and uncertainty elevated, risks to growth look tilted to the downside. At the same time, inflation risks have gone up due to higher energy prices. We will continue to assess the impact of US tariffs and trade policy uncertainty, and how the Canadian economy is adjusting. We are also monitoring the unfolding conflict in the Middle East closely and assessing its impact on growth and inflation.”

Address

1328 Main Street
Squamish, BC
V8B0R2

Website

http://www.peaktopeakmortgage.com/

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