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Blog by Linda M Linfoot

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Market Commentary - Dec 22, 2015

December 23rd, 2015
Market Commentary We have "lift-off". Despite months and months and months of anticipation, when the U.S. Fed finally pulled the trigger on a rate increase last week nobody really seemed to care very much. The quarter-point boost puts the benchmark rate in the U.S. at 0.5%. So now what? For us in Canada the implications are broad but not very deep. The most noticeable effect is on the val ...
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Market Commentary - Dec 15, 2015

December 15th, 2015
Market Commentary The federal government is taking three more steps along the road to reducing taxpayer exposure to potential risks in the housing market. The finance minister's announcement that bigger down payments will be needed for homes costing between $500,000 and $1 million got the most attention but it isn't the most significant change. The down payment tweak is seen as an effort to c ...
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Market Commentary - Nov 23, 2015

November 23rd, 2015
Market Commentary A new survey for Canadian Mortgage Professionals is out. Bond Brand Loyalty asked 2,000 Canadian homeowners about their mortgage experience. Of interest to brokers: • 65% of customers who used a broker got more than one quote compared to just 47% of bank customers • 35% of customers say they used a broker to get multiple quotes, 65% say they used a broker to get the best int ...
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Market Commentary - Nov 9, 2015

November 9th, 2015
Market Commentary Strong employment numbers in both Canada and the United States have market watchers focusing on interest rates again, especially in the U.S. The Canadian figures, while impressive, are not as significant as the American numbers. Canada generated 44,000 new jobs in October but Statistics Canada says most were temporary positions created by the federal election. In the U ...
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Market Commentary

October 27th, 2015
Market Commentary The household debt to income ratio has hit an all time high – 165%. Yet the Bank of Canada seems to have gone strangely quiet on the subject. Former bank governor Mark Carey routinely warned of the potential dangers brought by the lure of low interest rates, especially in the housing market. Recently, though, new governor Stephen Poloz told a banking audience in Washin ...
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Linda Linfoot FULL Mortgage Broker Offering "Exclusive" Banking and Financial Services

June 12th, 2015
Exciting News!! My brokerage is now also a licensed BANK which means I can offer you great products and rates (along with great mortgage products). This ADDs to the advantage of having 55 lenders exposed to me for mortgage products! Banking Products available are as such: - NO FEE chequing accounts - Unsecured Lines of Credit – This can help with your client’s Down payments - TFSA's - s ...
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How the Property Tax Rate Set

May 30th, 2014
HOW THE PROPERTY TAX RATE SET (Don't forget to claim your grant even if your lender is collecting your property tax for you.) When the annual budget is adopted by city council for the current year, City Council passes a rating bylaw. This bylaw sets a levy rate for every taxable parcel of land, as defined on the BC Assessment roll. This levy must be sufficient to raise enough revenue to ...
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First Time Buyer - Property Transfer Tax Threshold

February 19th, 2014
The BC Government has just tabled budget 2014 - and one of the changes will affect our first time buyer clients who are purchasing “Many British Columbians buying their first home will pay less Property Transfer Tax, as the Province is increasing the threshold for the first-time homebuyers program to $475,000 from $425,000, an exemption that can save the purchaser up to $7,500 when buying ...
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Should you help buy your kids a house?

January 4th, 2014
Should you help buy your kids a house? Ted Rechtshaffen | December 14, 2013 7:30 AM ET More from Ted Rechtshaffen One of the interesting factors supporting real estate growth is the role of financial support of parents and grandparents on some home purchases. The rationale for this growing practice is simple. Parents want their children to be able to get into the real estate marke ...
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CMHC Housing Market Outlook for British Columbia in 2013 and 2014

August 16th, 2013
VANCOUVER, BRITISH COLUMBIA, Aug 15, 2013 (Marketwired via COMTEX) -- According to Canada Mortgage and Housing Corporation's (CMHC) Third Quarter Housing Market Outlook British Columbia Highlights report, housing starts in British Columbia are forecast to total 27,100 homes in 2013 and 28,600 homes in 2014. "Single-detached housing starts are forecast to increase this year and next. M ...
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