Merry Christmas from Lori Lalonde Mortgages

Hey everyone! We’re well into December now, and you know as well as I how quickly the rest of the month will go by. So before we all get swept up in the rush of buying presents, making plans, writing cards, and baking treats, I thought it would be nice to reflect on where we’ve come since the start of 2015.

For starters, January saw the bank of Canada drop its overnight lending rate by a quarter of a percent, which the Big 6 Banks responded to by dropping their lending rates by just 0.15%. Despite that, mortgage rates for Canadians were the lowest they’d been in years, and the market in Northern BC especially was absolutely on fire. That was made particularly evident the very next month, when BC’s 2015 budget marked it as the only province in Canada with a surplus – and one of almost a billion dollars, at that. And remember, not only was the surplus double what it was predicted to be by finance experts, but we’re expected to run a surplus for the next three years. So even though these last few months have been a little rougher, we came into the downturn from the strongest possible position.

In fact, in July the Bank of Canada dropped the overnight lending rate by another quarter of a percentage point. The Banks responded the same as last time, with a drop in their own lending rates of a measly 0.10%. Any cut is a net positive for Canadians, however, and as I explained a bunch of times this past year, the Big 6 Banks aren’t Canadians’ only option when it comes to mortgages. I have access to over 40 lenders who are willing to provide the perfect rate, and I was able to match up a record number of clients with those lenders in 2015.

That success, and the continued success throughout Northern BC, came despite the falling oil prices at the end of summer. As I pointed out then, even oil-sensitive regions like ours were faring pretty well. As a matter of fact, this has been one of my most successful years ever as a mortgage broker, for a whole slew of reasons (and if that doesn’t convince you that our housing market is alright, I’m not sure what will). Not only did I have the opportunity to hire several talented people to my team, but I opened my own office in the heart of downtown Dawson Creek. All of this has only been possible with the support of the North, and all my friends and colleagues in this beautiful province. My year here has been so wonderfully rewarding, and I’m committed to having a whole lot more of them.

Really, that’s what I wanted to leave you all with as we make our way into 2016. I know some of you are wary of the new federal government, and the lower price of oil is obviously a concern for most of us, but the important thing is that Northern BC is as strong as it’s ever been. We started the year with a bang, and that’s what we’re gonna do next year, too – slightly higher interest rates or not. I’m so thankful to be a part of this incredible, hard-working community, and I look forward to finding the perfect mortgage for as many people as possible in the coming year (and years)! As always, my number is (250) 782-9665 and my phone is always on. My new year’s resolution is to continue doing as much as I can to make this province great – and I know that’s yours too.

Merry Christmas everybody, and Happy New Year!

Lori Lalonde, Your Northern BC Mortgage Broker™

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