What You Can Expect For Mortgages in 2015

Hey everybody! Happy New Year, for starters. I may be nine days late in saying that, but hey, I’ve been busy!

Firstly, some news about me – I have a new Twitter account you can follow for all the most up to date news about mortgages, Dawson Creek, Fort St. John, and Northern BC that you could possibly hope for. Also, probably some pictures from my upcoming trip to Belize (for which I apologize in advance). I’ll also be making an effort to update this blog more regularly this year, so please subscribe at DawsonCreekMortgage.ca or simply like my Facebook page and follow along from there.

Speaking of those sites: they’ve both been updated, and I’m in the process of touching up my personal site and my BrokerBase profile as well. Feel free to connect with me at all my various digital outposts, including my Google+ profile and my LinkedIn account. Pick your choice of platform, and let’s be friends!

Now that’s all out of the way, let’s talk about what you can expect in 2015, mortgage wise. There’s a good article by Steve Garganis that you can check out, but I’ll put up the important parts for you right here. In 2015:

  • Interest rates will remain fairly low, as they have during 2014. “5 year fixed rates are under 3.00%.”
  • House prices are expected to remain flat, according to CMHC and the Bank of Canada.
  • There will be an influx of (more expensive) secondary lenders and costly, “no frills” mortgage products that go against consumers’ best interests in favour of the banks.
  • The smart thing for consumers will be to move towards debt consolidation.


The most important takeaway from this is that, as ever, the mortgage landscape in Canada and Northern BC is constantly evolving. My advice to you, as Steve’s is in the article, is this: consult a professional mortgage broker. It’s all too easy to get taken in by the banks or secondary lenders when it comes to getting a mortgage, and that’s what people like me are here to help you with. I have only your best interests at heart. I know that getting a mortgage can be confusing and frustrating. If the idea of doing the research and searching for the best lender or interest rate worries you, or stresses you out, then send me an email or give me a call at (250) 782-9665. I promise you: the peace of mind and knowledge that you’re getting the best mortgage possible is worth it.

So that’s my advice for 2015, everyone. Let’s make this a fantastic year, for mortgages and everything else!

Lori Lalonde, Your Northern BC/Alberta Mortgage Broker

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