Blog

CMHC Releases Housing Starts Trends for British Columbia

Posted by Brad Speniel | May 22, 2015 at 12:28 pm

ESTIMATED READING TIME: 1 minute

realtor_specialist

Each month, the Canada Mortgage and Housing Coporation (CMHC) releases a report of housing starts throughout the country. These numbers provide housing market information to help you make vital business or financial decisions. The CMHC is a trusted source for reliable impartial and up-to-date housing market reports and analysis.

CBM strives to be your trusted source for important information, and so we are happy to provide you with the CMHC Housing Starts trends reports for British Columbia as a whole and, more specifically, Vancouver. Click below to learn more.

 

more CMHC Releases Housing Starts Trends for British Columbia

Topics: CMHC Reports

What Lenders are Looking For: How to Manage your Credit Score

Posted by Brad Speniel | May 22, 2015 at 12:12 pm

ESTIMATED READING TIME: 3 minutes

realtor_specialist

So maybe you let a few bills slide when things were tight. Or maybe you haven’t seen a zero balance on your credit card in longer than you can remember. Or maybe that temporary line of credit somehow became permanent. It’s amazing how many things we do that weaken our credit score.

Your credit score – the higher the better – is your passport to financial opportunities.
Known as a FICO score – with a possible range of 300 to 900 – your number tells lenders what kind of a risk you are likely to be as a borrower.

more What Lenders are Looking For: How to Manage your Credit Score

Fixed Rate versus Variable Rate Mortgages

Posted by Brad Speniel | May 22, 2015 at 11:58 am

ESTIMATED READING TIME: 3 minutes

realtor_specialist

When you see the mortgage rates being advertised by financial institutions, you may think your mortgage worries are over. All you have to do is lock in for the next five years and you are set. But it’s not that easy. Right now, the lowest available rate – and the one that makes
the rate sign look great from the street – will be for a variable mortgage. With a variable rate mortgage, your mortgage rate will move in conjunction with your lender’s Prime lending rate, which in turn tracks the Bank of Canada’s benchmark rate, and will typically be quoted as Prime minus a specified percentage. So, there is no way real way to
predict how your rate will vary in the upcoming years.

more Fixed Rate versus Variable Rate Mortgages

Topics: Mortgages

Self-Employed? Work with a Mortgage Broker to Secure Home Financing

Posted by Brad Speniel | May 22, 2015 at 11:54 am

ESTIMATED READING TIME: 2 minutes

realtor_specialist

While freelancers, contractors, entrepreneurs and small business owners are considered an excellent and reliable customer group, it’s not always easy for someone who is self-employed to get mortgage financing. Salaried employees prove their income with their T4 slips. The self-employed on the other hand have a much harder time proving their
earnings because they use accounting techniques to report lower income so that taxes are reduced as much as possible.  This can make it harder to prove to lenders that they can afford to make their mortgage payments.

more Self-Employed? Work with a Mortgage Broker to Secure Home Financing