Real Estate Blog

8 Tips the Banks Won't Share with You in 2019

8 Tips the banks won’t share with you in 2019 Empty attachment or post type not equal 'attachment' If you’ve got a mortgage renewing or plan to get a new one this year you probably know that it’s more complicated than it used to be. That said, I have some tips and strategies that can help you get the mortgage you need, tweak the one you have, or help you plan for renewal. To get the best deal, you need options. When you go to your bank, you’re talking to one lender. Their best deal might not be THE BEST DEAL (last month...

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Renewing Your Mortgage

Empty attachment or post type not equal 'attachment' Renewing Your Mortgage According to a recent survey of 2,000 Canadian homeowners, 19% will be renewing mortgages next year, 82% of whom are currently in a fixed rate mortgage. If you are one of these people the prospects aren’t as bleak as you may think!  That’s because those five year fixed terms were locked in on average at 3.65%, and mortgage holders can renew at similar rates today.  What this highlights is the way lenders work and the variation in rates that people get. Five...

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First Time Buyers

First Home Guide Compliments of Genworth Canada Download [3.41 MB] This article was first published on https://royallepagekelowna.com.

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Should I Buy or Wait?

Should I Buy or Wait?   Should I buy now or wait a year as prices are dropping, but interest rates are rising? I hear this question daily, and my usual answer drones on about interest rate projections, supply, and demand for homes blah blah!! So I thought I would run the numbers and see what makes the most sense based on the numbers, not my opinion! Option 1 – If you bought a home for $100,000 and put 5% down and had an interest rate of 3.59% on a 5-year term amortized over 25 years you would have monthly payments of $498.46.  At the end...

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Kelowna Open Houses - Open House To Do List

Open Houses Tour: 6 Things To Do

Open Houses Tour: 6 Things To Do Looking for open houses in the Kelowna Area – visit www.KelownaOpenHouses.com     Download [37.69 KB]   This article was first published on https://royallepagekelowna.com.

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Mortgage Rates On The Rise

Mortgage Rates On The Rise Now that NAFTA negotiations are somewhat behind us, we can get back to focusing on the fun stuff, and we have some good news and some not as good news. Mortgage rates started going up again in early October and we will likely see the Bank of Canada bump the rates up another 1/4 point at their next meeting on October 24th. This is definitely supporting the trend towards higher rates that many are forecasting, now that our trade issues with the US are a little less volatile? Since June of 2017, the 5 year fixed rate has j...

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