19 Mar

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

General

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:

  1. City of Richmond: Important Notice for Affected Property Owners (Cowichan Ruling)

  2. CBC News: BC First Nation Hopes for Reconciliation as Land Claim Heads to Appeal

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:

11 Apr

Your Expert Team

General

Posted by: Mackenzie Chaisson

Your Expert Team

Purchasing real estate for most people is the single largest investment of your life. This is why people trust their own team of professionals to navigate them through the real estate space.

Your All-Star Lineup

Here are the 4 experts that you need to trust while purchasing real estate.

Real Estate Agent (Team Captain)

Your realtor is the spearhead of your real estate team. They are the expert you will spend the majority of your time with when looking for a place. They are the ones that deal with making offers on properties and act as the middleman between you and the selling party. A good realtor will take the time to understand your situation, give you tailored advice and suggest properties that fit your criteria.

Realtors have a deep knowledge of different types of buildings and areas while having access to more tools and information on properties. Using a realtor is a MUST. They get paid from the seller so it’s a free service when purchasing a home.

Mortgage Broker (Assistant Captain)

Your mortgage broker is the financier of the real estate purchase. They look at your entire financial picture and come up with purchase scenarios that are custom to you. Mortgage brokers act as the middleman between you and the different lenders while giving you unbiased advice. A mortgage broker’s job is to make the mortgage process go as smooth as possible while getting you the best mortgage product on the market.

A mortgage broker works independently. So unlike the bank where they get paid a salary whether or not you work with them. The mortgage broker’s interests align with yours to make sure you get the best deal. Mortgage brokers not only get you competitive rates by looking at all the options, but they are also a free service just like working with a bank.

Why wouldn’t you want an expert on your team with your best interest in mind instead of the banks?

Real Estate Lawyer or Notary (Score-keeper)

A Real estate lawyer or Notary’s job is to finish the transaction and make sure all of the legal paperwork is in order. They are the ones who talk you through all the binding contracts before closing and registering the property in the new owner’s name.

The Notary is the party that holds all the money and makes sure the buyer and sellers get the correct dollar amounts. Both the buyer and the seller need to have their own individual lawyer.

The difference between the two is one is an actual lawyer who can review the contract and give feedback. If something goes wrong with the sale the lawyer will be able to help and give guidance. Whereas the notaries are slightly cheaper but are only there to do the bare minimum needed to complete the transaction.

Home Inspector (Goal Keeper)

The Home inspector is the best bang for your buck. They will go through the property and give you a report on EVERYTHING. They are the ones who make sure the property has no major issues that will come up after you have purchased it. Leak behind the wall? They will find it. Issues with electrical outlets? They will find that too!

The home inspector is a MUST when looking at properties new or old. While their job only takes a few hours, getting an expert who knows what to look for can save you thousands of dollars if there are issues. (You will also know what to fix when you move in).

Through my years as a mortgage broker I have built a network of great individuals, each is an expert in their rightful field. If you are looking to add any of these to your line-up, I can put you in touch with the best!

Got Questions? Reach out!
I’d love to hear about you and create a plan towards homeownership.

Your Mortgage Broker,

Mack

31 Mar

Should you lock in a fixed rate right now?

General

Posted by: Mackenzie Chaisson

For many people, buying a home is the largest financial transaction of their lives, and one of the most important decisions is choosing the right type of mortgage. One of the options that borrowers have is a fixed-rate mortgage, which offers the security of a fixed monthly payment over the life of the loan. However, locking in a fixed-rate mortgage during a high-interest rate market comes with significant risks.

When interest rates are high, the banks are trying to lock that in for as long of a term as they can. This means that borrowers will have to pay more in interest over the life of their term. This risk can make it more difficult for borrowers to afford their monthly payments and can lead to financial stress and even default. If interest rates fall after a borrower has locked in a fixed rate, they will not be able to take advantage of the lower rates unless they refinance their mortgage, which can be costly.

Another risk of locking in a fixed-rate mortgage during a high-interest rate market is that it can limit a borrower’s flexibility. If a borrower’s financial situation changes, such as a job loss or unexpected expense, they may find it difficult to make their mortgage payments. If they are locked into a fixed rate, they will not be able to reduce their monthly payment by extending the term of the loan or changing to a variable rate.

While fixed-rate mortgages offer the security of a fixed monthly payment, locking in a fixed rate during a high-interest rate market comes with significant risks. Borrowers may end up paying more in interest over the life of the loan, have limited flexibility if their financial situation changes, and may have fewer options when it comes to selecting a lender or a mortgage product.

When it comes to making a decision, trust your professional mortgage broker for advice. Since no two people are the same, each individual scenario needs to be viewed in its own way. This is where talking to a broker will help give you the answers you need in order to make the correct decision.