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The Bank of Canada has decided to keep its key overnight lending rate at five per cent due to concerns about persistent inflation. Economists expect interest rates to start falling by the summer, but the bank has not provided a specific timeline. The central bank is cautious about offering guidance due to past experiences with…

BC Assessment updated property values, showing minor changes mostly between ↓ 5% to ↑ 5%. BC Assessment disclosed the top 500 highest-valued residential properties in the province.

恭喜發財. Wishing you prosperity. Lunar New Year, is the most important celebration observed in China, with cultural and historic significance.The New Year celebration is centered around removing the bad and the old, and welcoming the new and the good. Traditional activities include reunion dinner, cleaning houses, visiting family members, setting off firecrackers and fireworks, and…

The B.C. homeowner grant, introduced in 1957, is criticized for being outdated and unfair. In 2024, the grant applies to properties valued at $2.15 million or less, covering 92% of B.C. homes.

Canadians are cutting back on spending due to expectations of higher interest rates and inflation. Financially vulnerable households are experiencing rising levels of stress. Despite this, mortgage holders remain confident they can keep up with higher payments. The Bank of Canada is expected to make its next interest rate announcement on Jan. 24. Continue to…

BC electricity costs may increase by 2.3%, adding ~$2/mo to the avg residential bill starting in April 2024.Rent in BC could go up, with a 3.5% maximum allowable increase in 2024, below the 5.6% inflation rate.

About six in 10 Canadian mortgages with major banks are up for renewal in the coming years, resulting in potential payment shock. Mortgage holders facing renewing at higher rates should consider uninsured mortgages, no stress test upon renewal, extending the amortization, and opting for shorter terms for potential long-term financial gain. Continue to full article

A total of $51 million is being distributed to 188 local governments across B.C. Abbotsford will receive almost $911,000 to implement new legislation for building more homes. The Fraser Valley Regional District will receive over $203,000. The funding is in response to new legislation aimed at creating more housing, allowing developers to build more units…

BC's 2024 homeowner grant applications are open, with a threshold of $2.15M covering 92% of homes in the province. Grant amounts remain the same, offering up to $570 relief for specific regions and $770 for others.

Nesto, Dominion Lending Centres, The Mortgage Centre, First National Financial LP, and THINK Financial are Canadian mortgage refinancing services, offering competitive fixed rates, varied loan options, and prompt closing. Each lender has unique strengths, with some focusing on online applications and customer satisfaction, while others offer personalized services. Factors such as prepayment privileges, penalty calculation…