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Hope you had a great weekend!

It looks like we may see some great upcoming changes to Insured mortgages in Canada!

There are plans to increase the maximum purchase price for insured mortgages (less than 20% down) mortgages from 1 million to 1.25 million which is great new for Markets like Vancouver where prices are hight and in situations where buyers may be able for a to qualify but could be short on downpayment needed for a purchase would have the option to look at an insured mortgage with a higher price point.

As this develops I will be sure to keep to keep you updated.

Bond yields have hit new highs that we have not seen since Feb 2020 and this is certainly going to put pressure on fixed rates to increase shortly, I have heard some lenders will be announcing rate increases overnight or over the coming days unless bond yields go back down shortly.

Given where bond yields are now, I suggest any clients you are currently working with who may not have a pre approval/rate hold currently that they do so ASAP!

Have a great week.


Chad Dreyer
Mortgage Consultant 

FSCO License: M21000565


Well as we all saw nothing much changed with last months Federal election, however the Liberals now have a fresh slate of policies for housing with hopes of sustainability and assisting first time buyers.

Here is a summary of their key housing promises:

Housing Supply

The Liberals plan to build, preserve or repair 1.4 million new homes if the next 4 years, they plan to do so through the following initiatives:

  • Housing accelerator fund
    • Invest $4 billion in a housing accelerator fund to build 100,000 new middle-class homes by 2024/2025
  • $2.7 billion for the National Housing Co-Investment Fund
  • $600 million for office and retail space conversion to housing
  • A temporary ban on foreign ownership
    • Foreign citizens would be barred from purchasing Canadian housing for the next 2 years, unless its proven to be for future employment or immigration within the proceeding 2 years
  • Anti-Flipping Tax
    • Applicable to properties sold within 12 months of purchase 

Mortgage Qualification Policies 

  • Changes to the First-Times Home Buyers Incentive 
    • Under the new plan participants could choose between the previous shared equity arrangement or now opt instead for a loan that is repayable only at time of sale 
  • Increase mortgage insurance eligibility cap to $1.25 million 
    • This is an increase from the current $1 million
  • Reduce CMHC insurance premiums for new buyers by 25%

Financial Assistance 

  • Tax-Free Home Savings Account
    • This allows Canadians under 40 to save up to $40,000 towards their first purchase, the money can withdrawn tax-free with no repayment requirement
  • $1 billion for rent to own projects 
  • Multi-generational home renovations tax credit 
    • Provide a 15% tax credit of up to $50,000 for homeowners who add a secondary unit to their home for the use of immediate or extended family
  • Double the First-Time Buyer Tax Credit from $10,000 from $5,000

There is definitely a lot of work here with everything the Liberals have proposed above and as we know by the time these come to law they could look much different that proposed above.

I will continue to monitor these and update you if any policy changes are announced.

If you have any questions please feel free to reach out!


Chad Dreyer
Mortgage Consultant 

FSCO License: M21000565



More and more properties are for sale at well below assessed value.

Remember, the assessed value of your property provides the base for the municipality to apply their mill rate – resulting in YOUR taxes. (The date of assessment is always July 2 of the previous year.) Here are 3 of hundreds of examples of properties listed between 16% and 25% below assessed value.

Well below assessments:

GILPIN CRESCENT, $1,999,000 (21% below assessed value), FINCH COURT, $849,000 (25% below),

FULLERTON Ave, $299,900 (16% below assessed value). Provided by Sam Mehrbod He has a list of properties for sale below assessed value.

What it means is that many if not most homeowners will be over assessed for 2019! What to do?

Go to website. It’s a fine site!

Type in your address NOW!

It will show you what your assessment is. You will get an assessment notice in the next week. Check it out against sales in the area now! Compare! (Actually, you can scroll down from your address to see other suites in your building or neighbour’s assessments.) ALSO – and this is important – you get recent comparable sales the authority uses to arrive at yours.

When you get the notice and you disagree – immediately dispute! There will be a thousand disputes in January – the sooner you do it the better.

• The deadline to appeal your 2020 Property Assessment is January 31, 2019.

• Call assessors first – they are not the enemy – show them your comparable sales and why you need your assessment changed. May be solved right there.

• Next: If it does not work, write to the Property Assessment Review Panel (PARP). Hearings take place between February 1 and March 15 each year. PARP members are members of the public appointed by the Minister.

• The second level of appeal is to the Property Assessment Appeal Board ("PAAB" or the "Board"). Board members are appointed by Cabinet. The right of appeal is available to "any person" who is dissatisfied with a decision of the PARP.
Major Point: With the gyrations in the market it is VERY likely that you are over assessed – particularly at the high end. (Westside is down 20-25% in price.) Act now.

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.