3015 Discovery Street, Vancouver, BC V6R 3Y8 | Phone: 604-221-2322
      
Today's Rate  [Feb, 23, 2012]

Prime Rate: 3.00%
GOC 5-yr Bond Yield: 2.358%

 Term Our Rate Bank Rate
1 year closed 2.75 3.50
2 year closed 2.84 3.55
3 year closed 2.99 4.05
4 year closed 3.19 4.79
5 year closed 3.25 5.29
7 year closed 3.99 6.35
10 year closed 4.49 6.75
Vars.(5yrs) P-0.20 Prime
Vars.(5yrs open) - -
Line of Credit P+0.50 -


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  • Construction Mortgage to build your dream home
    May 03, 2011

    Financing the construction of one's dream home can be obtained in a variety of deal structures, but most loans are advanced on a "cost-to-complete" basis. This means the lending institution will agree to a total dollar amount of the loan before the construction begins, then release partial funds at certain stages (lock-up, drywall, ...

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  • Business-For-Self (BFS) mortgage product
    April 04, 2011

    Mortgage application for the self-employed borrower can sometimes be tricky. Irregularity of year-to-year income stream, stability (or lack thereof) and tenure of business are factors contributing to potentially higher lending risk from the lender's perspective. Generally, lenders look for satisfactory (ie sufficient income producing) ...

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  • How Much Can I Borrow? (Income and Credit Score)
    March 08, 2011

    As mortgage consultants, the question we are asked most frequently is "How much can I borrow?" Many residential mortgage products these days are standardized so that we can often quote the loan-to-value ratios for various types of loans. But ultimately, when we have to put pen to paper on ...

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  • Canadian Debt Levels, an ongoing concern
    February 28, 2011

    Lately there has been a lot chatter about how indebted Canadians are and how this 'crushing' debt load is going to create another "made in Canada recession" as reported in the Globe and Mail last week. Supposedly, the average household debt has now surpassed the $100k mark for the first time in history and for those ...

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  • Government Rule Change on insured mortgages
    February 25, 2011

    For those borrowers with less than 20% down payment (otherwise referred to as high ratio mortgages), mortgage default insurance in required. Government backed mortgage insurance has been around for a long time, and the idea behind it is to make it easier for Canadians to buy or refinance their properties even with low down payment. ...

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  • Value Mortgage or no frills mortgage
    February 24, 2011

    Value Mortgage is essentially a mortgage product that has been stripped off features and benefits that could be very useful, but many borrowers do not utilize. In return for sacrificing these product features, the borrower gets pricing that is even better than the discounted rate. So basically, you give up some benefits you probably will not ...

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