In 2025, qualifying for a mortgage in British Columbia requires more than good credit and a solid down payment. One of the biggest barriers today’s buyers face—especially in markets like Abbotsford, Surrey, and even Edmonton—is the mortgage stress test. Originally designed to cool overheated housing markets, this rule has become a permanent fixture in Canada’s...
On April 16, 2025, the Bank of Canada (BoC) held its key policy rate at 2.75%, pausing its string of rate cuts after seven consecutive reductions. The decision reflects a cautious approach amidst persistent economic uncertainty, trade-related risks, and mixed inflation data. For homeowners in Abbotsford, Surrey, and nearby areas, this announcement may seem uneventful...
As of April 2025, mortgage arrears in Canada have begun to climb at a rate not seen since the early stages of the pandemic. According to a recent report from MPA Canada, mortgage delinquencies have reached their highest level in over four years, with economists warning that the trend could continue if economic stressors—like trade...
The Bank of Canada has announced a 25-basis-point reduction in its overnight lending rate, bringing it down to 2.75%. This marks the seventh consecutive rate cut, aimed at mitigating economic uncertainty caused by trade tensions and slowing inflation. For Canadians—especially those in Abbotsford, Surrey, and Edmonton—this development carries significant implications. Whether you are a homebuyer,...
Want to know how recent rate cuts and new mortgage rules are going to affect your property buying dreams? The federal government’s recent move to raise the insured mortgage threshold is intended to make homeownership more accessible to Canadians who are planning to buy a home but have a low budget or limited finances. But...
