Industry News - Page 7 of 33 - Synergy Mortgage

05Jan

News Modest increase in most B.C. properties, with shift to larger homes: BC Assessment

[CTV - January 4, 2021] VANCOUVER -- Property owners across B.C. can expect a modest increase to their homes’ assessed value this month, bucking concerns of a COVID-related collapse, with the lion’s share of the growth being felt in already high-priced single family homes. While low interest rates have likely kept money cheap and prices high, the pandemic may be partly to blame for the shift to larger properties, with buyers looking for bigger spaces to accommodate all the things many [...]

British Columbia, Vancouver Real Estate

02Jan

Canada 2021 Housing Forecasts Call For A Boom … Or The Worst Crash in 40 Years

[Huff Post - January 2, 2021] Amid an unpredictable pandemic, forecasts for the housing market are pretty much all over the map. This could be the toughest year in living memory to make predictions about the economy ― especially the housing market. Amid the worst economic slowdown in decades, home sales and prices soared in many Canadian cities in 2020, along with housing markets in many other countries. The average house price in Canada has shot up by 13.8 per cent over [...]

Canada, Economic Outlook, Toronto, Ontario, Vancouver Real Estate

02Jan

Paying down debt Canadians’ top financial goal in 2020: poll

[Financial Post - December 31, 2020] CIBC survey found many people took on more debt this year to cover day-to-day expenses and make up for lost income. TORONTO — Paying down debt is the No. 1 financial priority of Canadians heading into the new year, according to a new survey that found many people took on more debt this year to cover day-to-day expenses and make up for lost income. The annual CIBC online poll said tackling debt has remained unchanged as [...]

Canada, Vancouver Real Estate

01Jan

Buying a home this year | Mortgage qualification 101

[Synergy Mortgage - January 1, 2021] If you have decided to buy a home this year, we are here to help! While we certainly do all the heavy lifting to ensure your mortgage experience is as easy and seamless as possible, it’s important that you’re fully up-to-speed on all the mortgage basics. Especially given today’s fast-paced real estate market. Whether you’re a first time homebuyer or returning client, stay tuned for our “Buying a home this year” educational series. We will continue to provide you [...]

Mortgage Education Centre, Vancouver Real Estate

22Dec

Foreign ownership registry a game changer in B.C. say real estate insiders

[Globe and Mail - December 9, 2020] Recent government action to force transparency of property ownership in B.C. had outspoken immigration lawyer Richard Kurland so impressed that he fired off a letter to the Premier. “It’s game over. It’s huge,” Mr. Kurland says. “It means you can’t hide international capital in B.C. real estate. And it’s about gosh darn time, because there were so many players who benefitted from being blind … including individuals who were able to hide capital, to [...]

International Influence, Vancouver Real Estate

16Dec

Prices surge for B.C. recreational properties as people ‘re-evaluate their lifestyle’

[Vancouver Sun - December 8, 2020] There is a surge in interest and prices for recreational properties across B.C., especially Whistler, Kimberley and Cranbrook. Vancouver landscape architect Paul Sangha has long created gorgeous gardens and outdoor spaces for homes in the city, but this year, he is juggling a dramatic switch for his services in far-flung, recreational properties. It’s not just at Whistler, he said. “That, we would traditionally get. But now it’s jumped to Bowen Island and Pemberton, and then also [...]

British Columbia, Canada, Recreational Properties, Remodel + Renovation

11Dec

Bank of Canada doesn’t see housing bubble but it’s watching out, deputy governor says

[Yahoo Finance - December 10, 2020] TORONTO — A deputy governor of the Bank of Canada says the central bank is monitoring rising housing prices, as it keeps interest rates low to help borrowers cope with the COVID-19 pandemic. “Making sure we're not creating a bubble is very important here. And so we're keeping an eye on that,” said Paul Beaudry in a Thursday in a wide-ranging question-and-answer session for the Greater Moncton Chamber of Commerce, the Fredericton Chamber of Commerce, [...]

Canada, Economic Outlook

10Dec

Bank of Canada stands pat in year’s final rate decision, balancing COVID-19 risks with vaccine optimism

[Globe and Mail - December 9, 2020] The Bank of Canada stood pat on monetary policy in its final scheduled interest-rate decision of an eventful 2020, balancing the near-term economic risks from the second wave of the COVID-19 virus with the arrival of vaccines to alleviate the pandemic. The central bank announced Wednesday morning that its governing council had opted to leave the bank’s key policy rate unchanged at a record-low 0.25 per cent, where it has sat since a series [...]

Bank of Canada announcements, Canada, COVID-19, Economic Outlook

09Dec

Vancouver real estate: 2020 sales so far surpass whole of 2018, 2019, and December has just started

[Georgia Straight - December 8, 2020] A new market report by Vancouver-based Dexter Realty shows that 2020 will finish with a bang. Residential and land sales so far this year in the city of Vancouver exceed annual numbers for 2018 and 2019. These are numbers from January to November 2020, and sales in December have yet to be counted. The same picture is mirrored on a regional scale across areas covered by the Real Estate Board of Greater Vancouver (REBGV). This means that any [...]

British Columbia, Vancouver Real Estate

06Dec

5 reasons to get a second opinion on your mortgage renewal

[Invis Synergy Mortgage - December 2020] Given the large financial commitment of a mortgage, it's surprising that so many homeowners sleepwalk through the mortgage renewal process and don't look at all their options in the marketplace. Many accept whatever their lender offers or just have a short negotiation to shave a few points off. While it's tempting to choose what is easiest, it's so important to have a mortgage expert give you a second opinion and start working for you as [...]

Mortgage Education Centre, Vancouver Real Estate