The Bank of Canada has given their first rate update of 2022. The media has been putting out a lot of doom and gloom about interest rates in Canada lately so we want to clarify a few items along with provide the current update. For the full update from the Bank of Canada: https://www.bankofcanada.ca/2022/01/fad-press-release-2022-01-26/ Key … Continued
HELOC is a term you maybe have heard from a friend, broker or on the news. It stands for Home Equity Line of Credit. But what exactly is a HELOC? Below is a quick summary of this mortgage product, what it is, and how it works: The Basics: A home equity line of credit is … Continued
This week is all about BC Assessments. Here are a few property tax Myths! 1. Myth: My BC Assessment went up 50% my taxes are going to go up like crazy! Fact: In general, if assessments go up overall, the tax rate will go down. Property taxes are calculated by each municipality individually using a … Continued