Canadian Mortgage Interest Rates Are At An All-Time Low

Hey everyone! I hope that title grabbed your attention, and if not, let me start this post off by saying it one more time: Canadian mortgage interest rates are at an all time low.

The reason I say that – and the reason I’m writing this – is because I know a lot of people are getting a little worried about the economy in Canada. And that’s understandable, especially here in Northern BC where a lot of us rely on the success of the oilfields. I wrote about this back in November, too, and the big takeaway from that post was that we can expect the situation to improve. Things were always going to get slightly worse before they got better, and now that things are slightly worse, here’s where we’re at when it comes to mortgages in Canada. Are you ready? This is gonna sound familiar:

Canadian mortgage interest rates are at an all time low.

That’s right! It’s the third time I’ve said that for a reason, and that reason is this: if you’re anxious about the state of your mortgage right now, don’t be. Do you work in the oilfield, and are you worried about pay cuts, or being forced to take a lower-paying job? Do you have more than 20% equity in your home and have a credit score above 600? Are you paying higher interest rates on your current mortgage and loans?

If any of that sounds like it fits your current situation, I urge you to call me as soon as possible. We can discuss all of your options, and if you’re at all worried about your hours or your salary, it’s better to do that sooner rather than later. You could be eligible to consolidate your current mortgage and other debts into one payment, which could save you thousands of dollars in interest charges. If there’s no debt and you have a current mortgage rate over 3%, we should also discuss refinancing your mortgage to save you money in the long run.

The Canadian economy is showing glimpses of recovery right now, and as far as your mortgage goes the landscape couldn’t be any better (and I would know; I’ve been in this business for a lot of years). I promise you I can put some of your worries to rest, and all it will cost you is the price of a phone call (or the trip down to my new office in downtown Dawson Creek)! My number is (250) 782-9665, and my phone is always on – even when my office is closed. You have nothing to lose by giving me a call, and peace of mind to gain (at the very least)! As a proud Canadian I want the economy to improve just as soon as possible – but until it does, I want to do as much as I can to help my fellow Canadians get through the downturn.

If you’re looking for some of that help, or if you know someone who is, I hope to hear from you soon. Remember – Canadian mortgage interest rates are at an all time low. And I have plenty more good news for you where that came from.

Have a great week everyone!

Lori Lalonde, Your Northern BC Mortgage Broker

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What You Can Expect For Mortgages in 2016

Hey everyone! Happy Belated New Year! I hope your 2016’s been off to a great start, and if the only thing you’ve been missing is a mortgage update from Your Northern BC Mortgage Broker, then you’re in luck! I’m about to give you a heads up on what you can expect mortgage-wise over the next 12 months.

Before that, let me just bring any new readers up to speed! My name is Lori Lalonde, and I post the latest mortgage news right here on this blog. Alternatively, you can find out about my award-winning mortgage broker services over on my official website. And that’s not all! You can also connect with me on Twitter and Facebook and BrokerBase and Google+ and LinkedIn, and if that’s not enough then my phone number is 250-782-9665. I always keep it on, even on the weekends. If you live in Dawson Creek, you’re also more than welcome to visit me in my downtown office, for information or consultation or anything else. With all those options, it’s probably more difficult to not contact me, so I look forward to hearing from you soon!

So with all that said, let’s talk about 2016. Here’s the gist of it: the Canadian economy may be in a bit of a slump, but interest rates for mortgages are still incredibly low. In fact, while the Big 6 Banks are hiking up their rates, I’m still offering 2.59 – 2.69 for a 5 year fixed mortgage with great pre-payment options. The biggest hurdle for Canadian homeowners is an impending increase in minimum down payments, which is something that will affect a certain portion of prospective buyers in the coming months. That said, hurdles like that are exactly what professional mortgage brokers are there to overcome, and my goal is and always will be to help as many Canadians get their perfect mortgage as possible. So while I have to acknowledge that getting a mortgage in Northern BC may be slightly more difficult than it was a year ago, it’s important to reiterate that it’s still an excellent time to get one. Especially if you’re thinking about getting a mortgage in the next few years, today’s interest rates are too low to not look into getting one as soon as possible.

If you’re still a little worried (and I know there’s been a lot in the media lately that would be fair cause for concern!), check out this recent article by broker Steve Garganis pointing out how steady mortgage rates have been in Canada (even in spite of unsteady rates in the United States). And if you’re on the fence about coming to a mortgage broker instead of one of the banks, note that almost all of the Big 6 Banks made record profits in 2015 while withholding Bank of Canada rate cuts from Canadian consumers (you can read about that right here, here, or here). The bottom line is that banks offer mortgages to maximize profit, whereas I can find you a mortgage to maximize your happiness. I have access to over 40 lenders, and I can all but guarantee that one of them will have your perfect mortgage.

At the very least, I urge anyone thinking about mortgages in 2016 to contact me personally. I’ve been in the industry for a lot of years, so I’ve watched its ups and downs very carefully – which puts me in a perfect position to advise you on how best to go forward. And know this: I don’t charge for advice. Having a talk with me about your options is completely free, and you have absolutely nothing to lose (and everything to gain!) by doing so. The Canadian mortgage industry is still going strong in 2016, and the best possible thing you can do to take advantage of that is to talk with a professional.

That’s my start of the year spiel for now. Here’s to an amazing 2016!

Lori Lalonde, Your Northern BC Mortgage Brokerâ„¢

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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 Brokerâ„¢

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What You Can Expect From Canadian Mortgages Going Forward

Hey everyone! As usual, it’s been too long since my last post – and given that it’s a time of big change for Canada, that’s a problem I need to rectify. So here goes, a quick update on the state of the Canadian mortgage industry under our new Liberal government:

There’s nothing to worry about!

Okay, here’s a bit of a longer update: yes, things are changing, but it’s not as bad as you might think. Dawson Creek (and all of Northeastern BC) is still represented by a Conservative MP, and Canadians will always need affordable mortgages – no matter who the Prime Minister is, that will always be true. And so despite the fact that mortgage rates have been slightly on the rise recently, Canadians can rest assured that they’ll stabilize (and even come back down) sooner than you think.

Here are some hard numbers from Steve Garganis over at Canada Mortgage News: “Since the election on Oct 19, [Government of Canada] bond yields have made a steady climb upwards… going from around 0.80% to 0.97% today [Nov 5].” That sounds dramatic until you consider that the Liberals ran on a campaign of increasing the deficit; in the wake of their majority victory, investors are buying bonds in the hope that that promise is kept (and thus that their bond yields will increase in value). Here’s the rub, again from Steve Garganis: “If the yields go up, then fixed mortgage rates go up. If they go down, then fixed mortgage rates go down.” It’s a simple correlation – and it does a great job of explaining why mortgage rates are on the rise right now – but it doesn’t offer much in the way of prediction. The economy is vastly more complicated than can be summed up by a single equation, and that holds especially true during a period of political changeover. It’s fair to say that if the government keeps on borrowing, it will probably up the borrowing cost for average Canadians. But even with the government’s projected deficit, the increase in mortgage rates for those average Canadians is expected to be “minimal,” and in my professional opinion we’ll start to see them coming down again right away. And keep in mind that standard mortgage rates right now are the lowest they’ve been in years, so even a slight uptick (as in the approx. 0.10% increase we’re seeing now) seems worse than it really is.

In short: our new Liberal government has only been in power for a few weeks, and we’re a far way off from having to worry about borrowing rates. Trust me, when that time comes I’ll be the first to blog about it – but for now, things are pretty much right where we should expect them. We may be in a bit of a state of flux, but that’s true about the entire country as a whole.

If you still have any concerns about mortgage rates, or if you feel like any more of my opinions on the matter, remember that my phone is always on. That number again is (250) 782-9665.

Have a great weekend everybody, and keep looking up!

Lori Lalonde, Your Northern BC Mortgage Broker

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What Does a Mortgage Broker Do For You?

Hi everyone! I hope you’re all enjoying the end of October! Halloween is right around the corner – and if you’re a home owner, that means trick-or-treaters are right around the corner as well. I hope you’re all stocked up on candy!

But maybe you’re not a home owner – or at least not yet – and you’re who this post is really directed to (for all the people hoping for a breakdown of my favourite chocolate bars, I’m sorry to disappoint). You see, I meet with a lot of first time home buyers who don’t necessarily know all the different options available to them. And that’s not their fault at all – buying a home can be an overwhelming process, and it’s likely the single biggest purchase many of us will ever make. So there’s a lot of pressure involved to get it right, and that’s why there are so many people who make a career out of alleviating that pressure. Real estate agents, for example, facilitate the process of finding the perfect home. A lot of people are very comfortable with that idea, and it’s easy to understand why hiring one might be good practice. But mortgage brokers are another group dedicated to home buyers, and it’s sometimes less obvious how our services are helpful.

So to all you first time (or not!) home buyers out there, let me make it a little clearer: mortgage brokers don’t just get you a mortgage, they get you your mortgage.

I’ll break that down a bit, and I’ll compare it to real estate agents again. It’s not that you’re not capable of finding your own home to buy (you absolutely are!), it’s just that real estate agents are able to tailor your search to your specific needs. They know your buying limit, the size of your family, your location preferences, and they match that up to every home on the market to provide you with the options that fit only with what you’re looking for. In short, they find you your home, and they do so in the most efficient way possible. Mortgage brokers do the exact same thing, but for your mortgage. Our knowledge of the industry, our years of experience, and our relationships with multiple lenders give us the ability to fine-tune your mortgage search, and to provide you with the most perfect option. It’s not that you won’t be able to find a mortgage on your own (again, you absolutely can!), it’s just that it’ll be a much longer, less accurate process.

And unfortunately, you have a lot to lose if you sign a mortgage that doesn’t work for you. Ultimately, and in the simplest terms, that’s exactly what I (and mortgage brokers) do: we make mortgages work for you. Not everyone fits in the same box, but if you walk into a bank looking for a mortgage they’ll give you the same form they give everyone else. That’s the problem I help solve – not only do I provide tailored service, I can get you better rates (and if there’s one reason to use a mortgage broker, it should be that).

Since I’ve opened my store in downtown Dawson Creek, I’ve had several clients come in who were freshly turned down by the banks. This happens for a variety of reasons – not being able to borrow from their unsecured line of credit, for example – but to me it doesn’t matter. I have access to over 40 lenders besides the Big 6 Banks, and I can find you your perfect mortgage no matter what.

Here’s something else I want everyone to know, and especially those of you first time home buyers who may not be aware of it – if you have good credit, and you qualify, you can borrow the down payment from an unsecured line of credit. Again, that’s something I can help you with, and it’s the kind of useful information you might not come across without a mortgage broker.

So whether you’re a first time home buyer, renewing your mortgage, or a seasoned buyer, I’m here to help you with all your mortgage needs. The title of this post is “What Does a Mortgage Broker Do For You?” and the answer, in short, is this: whatever you need us to.

Lori Lalonde, Your Northern BC Mortgage Broker

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How Mortgage Brokers Get Paid: A Friendly Reminder

Hey everyone! It’s been a busy month for me as I settle into my new Dawson Creek office. For all the novel challenges that experience has brought me, the fact that it’s a mortgage office means I’m facing a lot of familiar challenges, too. Don’t get me wrong! I love my mortgage broker business, and if I didn’t love those familiar challenges it wouldn’t have been very smart of me to expand it. That said, there are a few misconceptions surrounding mortgage brokers that I see day in and day out – and that’s an obstacle I wouldn’t complain about getting rid of for good.

The most important issue I want to clarify is this: how in the world do mortgage brokers like myself get paid?

This is a question that’s dear to my heart, because it’s one I get asked several times a week by prospective clients. And it’s a perfectly fair question! It’s obvious that mortgage brokers aren’t simply volunteering their time, and (as much as we love what we do!) we couldn’t work if we weren’t getting paid. Most people – rather understandably, to be honest – assume that by using a mortgage broker, their mortgage payments are somehow feeding our salaries. And so the problem for consumers is this: why should I pay a mortgage broker to get me a mortgage when I can do it just fine on my own?

And here’s the answer, highlighted in bold so it’s impossible to miss:

Most of the time, you aren’t the one paying your mortgage broker at all.

Here’s how it works. When you go to a mortgage broker for help, we reach out to our extended network of lenders to find a mortgage that’s tailored specifically to your needs. That’s the first, most obvious benefit of using our services: you get to ditch the cookie-cutter mortgages offered by the banks in favour of something custom designed for you. That’s a big benefit, and it’s why a lot of people think they have to pay directly for it. But 99% of the time, the lender we send the deal to pays us directly. That means no cost to you, and I think the reason a lot of people are hesitant to go to a mortgage broker is because that sounds too good to be true… but it is! And if you’re still skeptical, why not give me a call at (250)-782-9665 or sit down with me directly? You’ll never owe me money unless I get you a mortgage – and again, 99% of the time you won’t owe me anything at all.

Let’s get that 1% out of the way right now, because I want to be completely transparent – there are certain cases where you’ll have to pay some money out of pocket. This only applies to clients whose credit history prevents the traditional banks and lenders from approving a loan (for example: a past bankruptcy, a repossessed car or truck, etc). In rare cases like that, the only option might be to contact a private lender, in which case there might be an associated fee.

And that’s it! That’s how mortgage brokers are paid, as plainly as I can explain it. My primary focus in this profession is to get people their perfect mortgage, and if I charged them tooth and nail to do that, it wouldn’t be a very productive endeavour. That’s why in the majority of cases, I don’t charge my clients at all. And if you need to go through a private lender for you mortgage, it’s still better to work with a broker than to wade through those waters on your own. In either scenario, there’s no harm in talking to me about it first. Sit down with me for a quick consultation, and if you still don’t like the sound of my mortgage services, then it’ll have cost you nothing. And if you do like the sound of my services, all the better! It’s a no-lose situation, and what you stand to gain is the perfect mortgage.

I’ll be waiting in my new office if you want to come and chat!

Lori Lalonde, Your Northern BC Mortgage Broker

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Lori Lalonde Mortgages is Hiring!

Hey everyone! I have to apologize for falling behind in posts again, but the simple explanation is that I’ve spent the past month moving into my new Dawson Creek office. It’s been super exciting but it’s also been super busy, and that’s actually what this entry is about – I need your help!

So for that reason, I’m looking to hire talented, hardworking people to help me with underwriting and document fulfillment. And those are the important qualities – motivated, success driven, willing to learn. If you think that describes you, but you don’t have any experience in the mortgage industry, that’s okay – I’m more than willing to train the right person. If you think that describes you and you do have experience in the mortgage industry – well, that would be great too, but it’s not a requirement. My success as a mortgage broker is in large part due to the absolutely ace team I have at my side, and so my most important consideration moving forward is that I continue to surround myself with good people. If you think that describes you, and if you have any desire to join a growing business in Northern BC, send me a resume and cover letter at I’d love to hear from you.

As for everyone else, I’ll have lots more news in the near future! This is a huge moment for my company, and once things stabilize a bit I’ll bring you all back into the loop. The sooner I can bring more people on, the better – so if you know of anyone who might be interested in this position, please pass this post along.

Until then, Happy Autumn! I hope you all make the most of it!

Lori Lalonde, Your Northern BC Mortgage Broker

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Your Northern BC End of Summer Mortgage Update

Hey everyone! How have your Augusts been treating you? As well as mine, I hope!

It’s been a long time since my last post, but it’s been a busy month for me and my team at Dawson Creek Mortgage. Not only have I been helping a record number of people get their perfect mortgage this month, but I’m also right in the middle of opening up a new office in downtown Dawson Creek! This is a huge and exciting moment for me, but the reality is that I would never have been able to do this without the support of my partners, clients, and readers like you. Any success a mortgage broker has is due entirely to the trust of the community they service, and I like to think that my new office is a direct reflection of the trust my Northern BC community has placed in me. If it weren’t for all of you this never could have happened, and I hope to pay you back by finding your perfect mortgages for years to come. Remember, my phone is always on. Whatever you need help with, whenever you need help with it, I’m more than happy to take your call. That’s my pledge to this town – and this province – that’s given me so much.

Now, with all that out of the way, I’m about a month overdue with a Canadian mortgage industry update. Last time I posted, the Bank of Canada had just cut its overnight lending rate by 25 basis points – for the second time since January. While that was a pretty big deal in and of itself, the even bigger side of the story was the Big 6 Banks’ response to that cut: they dropped their interest rates by just 10 basis points, a far cry from the traditional 1:1 match that earned the overnight lending rate the moniker of “key policy rate.” The simple truth is that if the banks don’t match that policy rate, then it ceases to have an impact on Canadian consumers, and ends up accomplishing nothing but keeping more money in the banks’ coffers. That’s why there was so much outrage the first time they pulled this trick in January, and why there was just as much outrage a month ago.

In fairness to the banks (not that it matters, since they don’t seem to understand the concept), the Big 6 have all dropped their interest rates by a total of 15 basis points since I wrote my last post, which is exactly the amount they managed in January. While that’s slightly better than their initial drop of 10 points (0.05% better, to be exact), it’s still a slap in the face to Canadian consumers, who are now paying an interest rate 20 basis points higher than the banks. The difference, obviously, ends up as pure profit for the banks, and that should be an outrage to anyone looking to borrow money from the Big 6.

The good news is that borrowing money from the banks is not your only option, and when it comes to looking for a mortgage there are a ton of other lenders you can consider. My entire job is to stay on top of that sort of thing, and to match your particular mortgage needs with the lender that best meets them. If you’re tired of the same Big 6 options, give me a call – I can give you over 30 more. And again – in most cases I’m paid directly by those lenders, so exploring your options is not only shrewd consumerism but completely free to boot. You have absolutely nothing to lose by asking for my help, and potentially everything to gain – especially in the current economic climate.

To end things on a positive note, I’d like to point out that Canada’s housing market is doing pretty well right now. If you’ve been worried about falling oil prices, have a look at this quote from RBC’s latest Monthly Housing Market Update (I may take issue with their interest rates, but that doesn’t mean they don’t have smart economists on their payroll): “The resumption of an upward sales trend in some oil sensitive regions… is encouraging with a jump in new listings in these regions also pointing to some stabilization in these markets.”

So with that, enjoy the rest of your summer! Next time you hear from me I’ll be in a brand new office in downtown Dawson Creek!

Lori Lalonde, Your Northern BC Mortgage Broker

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Another Bank of Canada Rate Cut – July 15, 2015

Hey everyone! I hope you’re all having a fantastic Wednesday. I usually write these posts closer to the weekend, but there’s some breaking news in Canada right now and it just couldn’t wait: if you haven’t already heard, the Bank of Canada has cut its overnight rate by another quarter percentage point.

Now, a quick recap before we really dive into what that means – back in January the Bank of Canada dropped its overnight rate to 0.75%, after it had been sitting at 1.00% since September 2010. As I outlined in my blog post on the subject, the overnight lending rate is Canada’s key policy rate, because it determines how Canadian banks should structure their own interest policies. And back in January, when the Bank of Canada cut their rate by 25 basis points, the Big 6 Banks cut their rates by only 15. That was a big slap in the face to Canadian consumers, because the entire point of the bank of Canada’s rate cut was to stimulate the Canadian economy – and the banks decided to pocket most of the savings for themselves instead.

That brings us to today, where “faltering global growth, disinflation and low prices for oil and other commodities” has caused the Bank of Canada to cut the overnight rate by another 25 basis points – again, with the intent to spur the Canadian economy, particularly by spurring the housing market (as Robert McLister puts it at, a “reduction [of 50 basis points] in the 5-year mortgage rate can lead to as much as a 15% increase in home sales nationally”).

Ignoring the larger issue of the current Canadian economy, the biggest problem today is that the Big 6 Banks are pulling the same cheap trick this time around. According to that CBC article, TD has lowered its interest rate by just 10 basis points, an even lower reduction than it made in January. The other banks haven’t responded at all yet (in itself an insult – until this year, there’s always been a simple 1:1 correlation between the Bank of Canada’s overnight rate and the banks’ interest rates), but they’ll presumably follow TD’s lead. What this means is that in 2015, the Bank of Canada has gone to fairly extreme lengths to strengthen the Canadian economy – they’ve cut their overnight rate by a full 50 basis points. In stark contrast, the Big 6 banks – who are the sole beneficiaries of that overnight rate cut – have only cut their interest rates by 25 basis points. That means they’ve only given half of their rate cut to Canadian consumers – they’re essentially profiting off of our economic downturn.

Thankfully, it’s not all as bad as it seems. For one thing, your interest rates are not necessarily dictated by the Big 6 Banks. As a mortgage broker with access to over 40 lenders, I can find you a rate that’s a better fit for both you and the Canadian economy. As I mentioned in my last post, the housing market in Canada is still doing exceptionally well – and as long as you do your due diligence when getting a mortgage (or better yet, have me do it for you!), your interest rate can do exceptionally well too.

Lastly, as a bit of a counterpoint to the overall gloominess of this post, the British Columbia economy is doing amazing right now. From that article in the Vancouver Sun: “Finance Minister Mike de Jong says British Columbia is firmly in the black with a budget surplus of $1.6 billion, significantly higher compared to a forecast of $184 million.” That makes our province’s budget numbers “the best in the country,” and it’s a good reason not to get too worked up about a minor economic downturn (Bank of Canada Governor Stephen Poloz doesn’t even classify it as a mild recession, let alone a significant one).

On that note, I once again urge you all to be conscientious, considerate Canadian consumers. If you’re looking at getting a mortgage, that means consulting a mortgage broker (especially since mortgage brokers don’t charge you anything). If you’re in Northern BC and looking at getting a mortgage, my number is (250) 782-9665, and my phone is always on.

Have a great rest of the week, and remember to stay positive!

Lori Lalonde, Your Northern BC Mortgage Broker

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As the Spring Market Comes to a Close, Canadian Housing is Still White Hot

Hey everyone, and happy Friday! It’s been a few weeks since my last post, so I thought I’d catch you all up on what’s been going on in the world of mortgages. And at the risk of jumping the gun – it’s not a lot.

That’s pretty standard for this time of year, as the Spring Housing Market is starting to come to a close. And given just how awesome this past season has been for the housing market, it’s no wonder that things seem slower right now. A case in point comes from an article published just the other day on The Globe and Mail, whose headline pretty much says it all: “Housing starts hit 11-month high in June.” That means that more housing units were started last month than in the previous ten, which is a pretty good indicator that Canadian real estate is doing great.

Take this quote from the article provided by Nick Exarhos, CIBC’s World Markets economist: “Despite worries tied to other parts of the Canadian economy, housing continues to post solid readings.” Even better for readers of is that this housing stability is led in Canada by British Columbia, where “the seasonally adjusted annual rate of urban starts increased… by 45.1 per cent.” Some of this can be attributed to Vancouver’s ever-growing housing market, but not all of it: remember that Northern BC is doing absolutely phenomenal right now.

One last thing I’ll point out from the Globe and Mail piece is that according to Statistics Canada, “new home prices in Canada also rose higher than expected.” Higher prices go hand in hand with a booming marketplace, of course, but I thought it would be especially pertinent to my readers – or at least those readers who are in the market for a new house or mortgage. If you fall into that category, I would like to again urge you to think about acting fast. The Spring Market may be on its way out, but this is still a damn fine time to be getting a mortgage – especially if you live in Northern BC.

Finally, I’d like to remind everyone (but especially those people whose interest was piqued with that last paragraph) that my phone is always on, I’m always willing to help, and I don’t charge for my mortgage services.

Have a great weekend everybody!

Lori Lalonde, Your Northern BC Mortgage Broker

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