19 Mar

Is Now the Time? What the Bank of Canada’s Latest Move Means for BC

Posted by: Mackenzie Chaisson

The Bank of Canada recently announced it is holding its key interest rate steady. This is the third time in a row they have kept things unchanged, which signals that the economy is moving into a period of stabilization. For Vancouver homeowners, this “hold” offers a bit of predictability after the ups and downs of the last few years.

If you have a variable-rate mortgage, your payments likely won’t change for now. If you are looking at fixed rates, remember that these are influenced more by “Bond Yields” (the interest paid on government debt) than the Bank of Canada’s daily decisions. Right now, we are seeing a much more balanced market where buyers have more time to breathe and negotiate.

There are also new rules helping with affordability in BC. You can now get an insured mortgage (with less than 20% down) for homes priced up to $1.5 million. Plus, first-time buyers and those buying new builds can now use a 30-year “Amortization”—which is the total length of time you have to pay off your loan. This can help lower your monthly payments significantly.

Every buyer must still pass the “Stress Test.” This is a government-mandated check to prove you could still afford your mortgage if interest rates were to rise in the future. With more inventory currently on the Vancouver market, now is a great time to see how these new rules improve your qualifying power.

Buying a home is a big step, but with the right info, you can move forward with confidence.

Ready to discuss your options? Schedule a call!

Sources:

17 Mar

Saving $50k on Your New BC Home: The 2025 GST Rebate Explained

General

Posted by: Mackenzie Chaisson

Buying a new home in British Columbia just got a lot more affordable. Thanks to recent federal changes, first-time buyers can now save up to $50,000 on the purchase of a newly built home. This “exemption” is actually a full GST (Goods and Services Tax) rebate on new homes priced up to $1 million. For a long time, these rebates were capped at much lower price points, making them hard to use in our local market.

If you are a first-time buyer looking at a new condo, townhouse, or detached home under $1 million, you could see a 5% savings right at the finish line. This is a huge win for affordability in Vancouver and across BC. For homes priced between $1 million and $1.5 million, you still get a partial break, though the savings gradually decrease as the price goes up.

To qualify, this must be your primary residence, and you must be a first-time home buyer. In the mortgage world, we call your “Primary Residence” the home where you actually live most of the year, rather than an investment property you rent out. This rebate helps lower your closing costs—the extra fees like legal work and taxes you pay when the home officially becomes yours.

This is one of the most significant steps we’ve seen recently to help British Columbians get into the housing market. By combining this with existing provincial programs, your dream of owning a brand-new home might be closer than you think.

Closing Sentence: Navigating tax rebates and mortgage rules can be tricky, but the savings waiting for you are worth the effort.

Ready to discuss your options? Schedule a call!

Sources:

16 Mar

Rising Foreclosures in Canada: What BC Homeowners Need to Know

General

Posted by: Mackenzie Chaisson

As we move through 2026, many Canadians are feeling a significant financial squeeze. Recent shifts in the economy have led to a rise in unemployment, and for many, savings are lower than ever. This combination of higher living costs and job instability has unfortunately led to a growing number of homeowners facing the difficult reality of foreclosure.

In British Columbia, we are seeing a “tug-of-war” in the market. While there is a large amount of inventory available—meaning there are many homes for sale—there aren’t enough buyers to keep up. When homeowners can’t sell their properties quickly enough to cover their debts, they may face a Foreclosure, which is a legal process where a lender takes control of a property because the borrower has failed to make their mortgage payments.

If you are feeling the pressure, it is important to understand the Stress Test. This is a federal rule that ensures you can handle your mortgage payments even if your financial situation changes or interest rates go up. Knowing where you stand today can help you avoid trouble tomorrow. While the market has seen some recent rate cuts, the overall economy is still in a recovery phase, making it more important than ever to have a clear plan for your home.

Taking early action and staying informed is the best way to protect your home and your financial future.

Ready to discuss your options? Schedule a call!

Sources:

13 Mar

Richmond Land Claims: What Homeowners Need to Know About the Cowichan Ruling

General

Posted by: Mackenzie Chaisson

If you live in Richmond, you may have seen recent headlines about a landmark BC Supreme Court decision involving the Cowichan Tribes and land title. This news has sparked many questions for local homeowners, especially regarding property rights. My goal is to simplify what is happening and explain why you don’t need to panic about your home.

In August 2025, a judge recognized that the Cowichan Tribes hold “Aboriginal Title” to about 800 acres in southeast Richmond. This area, historically known as Tl’uqtinus, includes a mix of residential and industrial lands. While the court called this a “senior” interest in the land, the Cowichan Nation has been very clear: they are not looking to take away homes from private owners.

You might be wondering about your “Fee Simple” title—that’s the legal term for the standard way we own property in BC. The court explained that Aboriginal Title and private property can “coexist.” This means your right to live in, sell, or mortgage your home remains protected. The legal focus is actually on the government’s responsibility to make things right for past wrongs, rather than displacing families.

For homeowners in Richmond, the current status is business as usual. While the City of Richmond and the Province are appealing the decision to ensure the land title system stays stable, experts agree that property rights are not under threat. These cases are about building a fair future through negotiation, and your home remains your own.

Reconciliation is a journey, and protecting your property rights is a key part of how the government is moving forward.

Ready to discuss your options? Schedule a call!

Sources:

12 Mar

Vancouver Real Estate 2026: A Year of Recovery and Turnarounds

General

Posted by: Mackenzie Chaisson

The Vancouver real estate market in 2026 is shaping up to be a significant turnaround from the “weird” year of 2025. While 2025 was defined by 10-year sales lows and declining prices, we are finally stepping out of the post-pandemic inflation hole. Market sentiment is improving monthly as we move away from the high-rate environment that kept many buyers on the sidelines last year.

Last year, the market saw a steep decline in activity starting in March, creating a massive oversupply of inventory. This gave buyers a major advantage, allowing for better negotiations on price and terms. In 2026, we are seeing that momentum from late 2025 continue, with expectations for a busy spring season as rates stabilize.

For those looking to enter the market now, regional rules like the 5% minimum down payment and the First-Time Home Buyers’ Program are still essential tools for affordability. If you are a first-time buyer looking at new builds, don’t forget the recent GST exemption for new homes, which can save you 5% on your purchase price. These programs, combined with the federal “Stress Test”—the rule that checks if you can afford payments if rates go up—are the foundation of a solid home-buying plan.

As we head further into 2026, the Vancouver market is moving toward a more stable base. While 2025 was a period of “pulling back,” this year offers a fresh start for those who have been waiting for the right moment to make a move.

Ready to discuss your options? Schedule a call!

Sources:

11 Mar

What New Mortgage Rules Mean for FTHB

General

Posted by: Mackenzie Chaisson

The mortgage world in British Columbia is seeing some of its biggest shifts in years. Recent updates from the federal government have changed the rules for “insured mortgages”, which are typically for buyers putting down less than 20%. Previously, the price limit for these loans was $1 million, but that has now been raised to $1.5 million. This is a huge win for those looking at homes in Greater Vancouver, where prices often sit above that old million-dollar mark.

Another major change is the return of the 30-year “amortization.” Amortization is simply the total length of time it takes to pay off your mortgage in full. By extending this from 25 to 30 years, monthly payments become more affordable, which can help you qualify for a larger loan. While interest rates have generally trended lower recently compared to the highs of the last couple of years, these rule changes offer even more flexibility for your budget.

Understanding these updates is key to navigating the BC market. For example, even with lower down payments, you still need to pass the “Stress Test.” This is a bank’s way of making sure you could still afford your payments if interest rates were to go up in the future. With more inventory available and new rules in play, 2026 is shaping up to be a busy year for buyers.

Whether you are a first-time buyer or looking to upgrade, these new tools make homeownership more accessible than ever.

Ready to discuss your options? Schedule a call!

10 Mar

Vancouver Real Estate 2026: Why Early Moves Might Win the Year

General

Posted by: Mackenzie Chaisson

The Vancouver housing market is entering a unique “turnaround year” as we head into 2026. After a period where prices dipped across the board and sales hit 10-year lows, the market is finally starting to settle. With inventory levels high and competition currently lower, buyers have a rare opportunity to find a home without the usual “Vancouver frenzy”.

One major factor helping affordability is the trend in interest rates, which have stabilized significantly after coming down from their peaks. Many buyers are now focusing on the Stress Test, which is a government-required check to ensure you can still afford your mortgage payments even if interest rates were to rise in the future. This rule helps protect your finances over the long term.

For those waiting for the perfect moment, early 2026 is looking like a strong window. As market sentiment improves and we move away from the high inflation of previous years, properties may start to see appreciation again by the end of the year. In BC, remember that you can still enter the market with a minimum down payment of 5% on the first $500,000 of a home’s price, making ownership more accessible than you might think.

Navigating these changes can feel overwhelming, but the right plan makes all the difference.

Ready to discuss your options? Schedule a call!

9 Mar

Vancouver Real Estate 2026: Is Now the Time to Buy?

General

Posted by: Mackenzie Chaisson

The Vancouver housing market is entering 2026 with a much-needed sense of stability. After a rollercoaster ride following the pandemic, we are finally seeing the “inflation hole” begin to close as market sentiment improves each month. For many BC homeowners who have been waiting on the sidelines, 2026 is shaping up to be a potential turnaround year for real estate activity.

Interest rates have undergone a significant shift, moving down from the highs seen in early 2024. The Bank of Canada (BoC) has made several cuts, bringing rates toward a more neutral level, though they have recently held steady to monitor the economy. While rates are lower than last year, borrowers must still pass the Stress Test. This is a government-required check to ensure you can still afford your mortgage payments even if interest rates were to rise significantly in the future.

Recent government changes have also made it easier for some to enter the market. For instance, the maximum price for an insured mortgage—where you put down less than 20%—has been increased to $1.5 million. In BC, first-time buyers can also look into the First-Time Home Buyers’ Program to help reduce the cost of property transfer taxes. With inventory levels currently high and prices having dipped throughout 2025, the early months of 2026 may offer a strategic window before the market heats up again.

Navigating the Vancouver market can feel overwhelming, but staying informed helps you make the best move for your future.

Ready to discuss your options? Schedule a call!

Sources:

7 Mar

How Much Down Payment Do You Need in Vancouver?

Mortgage Tips

Posted by: Mackenzie Chaisson

Many first-time homebuyers in Vancouver wonder if they need a massive 20% down payment to enter the BC real estate market. Thanks to recent federal changes to the insured mortgage cap, buying a home in the Lower Mainland is now more accessible than it has been in years.

In Canada, the minimum down payment depends on the purchase price. As of late 2024, the cap for insured mortgages (loans with less than 20% down) increased to $1.5 million. This is a game-changer for Vancouver, where many starter homes and townhomes fall between $1M and $1.5M. You no longer automatically need 20% down for these properties.

The current minimum down payment is calculated as follows:

5% on the first $500,000 of the purchase price.

10% on the portion between $500,000 and $1.5 million.

For a $1.2 million Vancouver condo or townhouse, your minimum down payment is now $95,000 (instead of the old $240,000 requirement). Keep in mind that if you put down less than 20%, you’ll pay mortgage default insurance (CMHC insurance), which is rolled into your mortgage. For any home over $1.5 million, a full 20% down payment is still required.

Navigating BC mortgage rules can be tricky, but you don’t have to do it alone. As an independent mortgage broker, I can help you calculate your exact costs and find the best rates available in British Columbia today.

Minimum Down Payment Rules (Official Table):

CMHC Mortgage Insurance Calculator

BC First-Time Home Buyers’ Program (Tax Exemptions):

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