Prime Rate Increased to 4.70% and Samson Turned 14!

West Coast Mortgages - Mortgage Brokers

Jamie Moi ~ Michelle Chandra

team@westcoastmortgages.ca
604-534-6504
http://www.westcoastmortgages.ca/

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Foreclosure Lists

Detached - N. Delta
Detached - Chilliwack, Sardis (1)
Attached - Surrey, S. Surrey
Detached - Langley, Cloverdale
Detached - Burnaby, New West (1)
Detached - N. Surrey, S. Surrey
Attached - Tri Cities (2)
Detached - Mission, Abbotsford (1)
Attached - Chilliwack, Sardis
Attached - Mission, Abbotsford (1)
Detached - Tri Cities (2)
Detached - Surrey
Attached - Pitt Meadows, Maple Ridge (1)
Detached - Pitt Meadows, Maple Ridge (1)
Attached - Burnaby, New West (1)
Attached - Langley, Cloverdale (1)

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Bank of Canada Raises Interest Rate as Inflation Projected to Worsen

By Judy Trinh for CTV News

Updated: October 28, 2026 at 10:34a.m. EDT

OTTAWA — OTTAWA - The Bank of Canada raised its policy interest rate by 25 basis points to 2.5 per cent. It’s the first hike since July 2023. The central bank wants to control inflation by reducing the risk that high fuel prices could spill over and seep into the overall economy.

In its October Monetary Policy Report, the BOC said the rise in energy prices and uncertainty surrounding Canada’s trade relationship with the United States are the two biggest risks to increasing costs of living.

In its report, the BOC said that high energy costs have not yet spread broadly to other prices, but “cost pressures are building and that businesses anticipate passing on more of their increased costs to customers.”

Inflation is currently at 3.1 per cent.

Tiff Macklem, the central bank’s governor, said that the outlook for inflation has “deteriorated” since the BOC’s July report.

“With the outlook for inflation substantially higher and the economy showing resilience, an increase in the policy rate is needed to reduce the risk that elevated energy prices could spill over and become generalized inflation,” Macklem said in prepared remarks during a Wednesday morning news conference.

Continue reading here...

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CHIP Reverse Mortgages - A New Way Of Thinking About Mortgages For Seniors

A CHIP Reverse Mortgage is a mortgage loan for Canadian homeowners aged 55 and older that lets you convert up to 55% of your home equity into tax-free cash without having to sell or move. The lender, Home Equity Bank, is a Canadian chartered bank and is the fasted growing lender in Canada.

How It Works

No Payments: You do not make monthly mortgage or interest payments although you can make full or partial payments if you wish to. The interest owed on the mortgage simply accrues and is added to the mortgage balance each month.

You do not need to qualify for the mortgage on income, it is based on your home value, home location and your ages

Repayment: The loan is only paid back when you sell, move, or pass away.

Ownership: You keep complete ownership and control of your home.

Payout Options: You can get the cash as one lump sum or through scheduled advances.

Tax Status: The money you receive is tax-free and does not affect Old Age Security (OAS) or Guaranteed Income Supplement (GIS) benefits.

Key Rules and Protections

Eligibility: All owners and people on the home title must be at least 55 years old, and the property must be your primary residence.

Obligations: You must still pay your property taxes, keep home insurance, and maintain the property in good condition. No Negative Equity

Guarantee: You will never owe more than the fair market value of your home when it is sold.

Do you or someone you love have more questions about CHIP Mortgages? Call us today!

Office number: 604-534-6504

Want to text? Dedicated texting line: 236-233-3930 (available during regular business hours)

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Samson Turned 14 Years Young!

Our precious little man celebrated his 14th birthday last week with a juicy steak and a baked potato.

We decided that 14 was pretty momentous and he deserves a steak for his birthday from now on. In fact, we might need to celebrate the anniversary of his arrival in our home in December with another steak.

It's hard to believe that it's been nearly 14 years since this tiny, adorable, fluffy puppy showed up and totally rearranged our lives, sleep schedules and priorities.

Samson has been with us through all of our adventures, including living in Mexico, and is showing no sign of slowing down. He's still as spry as ever, though his hearing is going a little bit... which might be a blessing during Halloween, i.e. the season of fireworks.

Happy Birthday, Samson! We love you soooo much!

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Should You Be Locking In Your Mortgage Rate?

What a great question!

We have seen quite an increase to bond rates over the last couple of months and the result is that fixed rates are hovering up around 5% right now. With Prime rate sitting at 4.70% and discounts available off that for variable rate terms, the variable mortgage is making a come-back in popularity.

Typically, when the Bank of Canada increases their overnight rate, upon which Prime rate is based, they do so by 0.25% at a time. So, if you can get a variable rate under 4%, Prime rate would need to increase by 0.25% four times to hit current fixed rates.

Therefore, my estimation is that variable rates are still the most affordable. However, I am not making your mortgage payments... If mortgage rate fluctuations are going to keep you up at night, a variable product may not be right for you.

If you are concerned about your mortgage, please give me a call and we discuss your personal situation.

Office line 604-534-6504

Prefer to text? Dedicated texting line: 236-233-3930 (available during regular business hours)

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Prime Rate Predictions - It's Anyone's Guess

This month the Chief Economists for 6 of the major chartered banks in Canada laid out their predictions for what what we can expect from the Bank of Canada over the next 12 months. The results are surprisingly divergent, once again proving that no one has a functioning crystal ball.

The Chief Economists for TD Bank and BMO predicted absolutely no change to Prime rate over the next year.

The Chief Economists for CIBC and National Bank predicted a 0.5% rate increase by the fourth quarter of 2027.

The Chief Economists for RBC and Scotiabank predicted a 1% increase to Prime rate by fourth quarter of 2027.

The main take away from this, other than the fact that no one has any idea what is actually going to happen, is that none of the economists predicted an increase above 1% in the next 12 months.

Based on how high fixed rates have gotten, variable rates are looking very attractive right now.

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Bank Of Canada Stays Steady & Full Garden Update

West Coast Mortgages - Mortgage Brokers

Jamie Moi ~ Michelle Chandra

team@westcoastmortgages.ca
604-534-6504
http://www.westcoastmortgages.ca/

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Bank Of Canada Holds Rate Steady For 7th Consecutive Meeting

No surprises this morning, as the Bank of Canada elected, yet again, to hold their overnight rate steady at 2.25%. This means that Prime rate remains at 4.45%. While the "trade-war" with the U.S. was a hot topic, Tiff Macklem, Bank of Canada Governor, stated that the conflict in the Middle East is a bigger issue.

The U.S. imposed $28 billion worth of tariffs on Canadian goods last month, which the Canadian government countered dollar for dollar. Canada also expanded the economic relief program for businesses and workers who are impacted by the tariffs. However, Macklem said this morning that high oil prices resulting from the war in Iran are a a bigger risk to Canadians, as transport costs for goods and increased services costs impact inflation.

The Canadian bond market, which impacts fixed mortgage rates, has been bouncing around. Since bonds control longer term rates and are tied to the U.S. bond market, there is speculation that fixed rates could rise as America has seen soaring treasury yields. Having said that, lenders do set their own fixed term rates and rate specials have become the flavour of the season. Many lenders have been leaning into 3 year fixed rate specials, which I am quick to note would mature after the next Presidential election.

The long and short of it is that the Bank of Canada does appear to be on Canadians' side. They are being cautious about raising rates and putting too much pressure on consumer's wallets. I expect to see that trend continue as long as oil prices do not skyrocket, causing inflation to rise. For now, Prime stays stable, making variable rates very attractive. I expect short term fixed rates will also remain popular.

Jamie Moi - Mortgage Broker

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BC PROPERTY CONNECT

The Land Title and Survey Authority of British Columbia (LTSA) is urging home owners to set up property alerts to notify them if scammers attempt to impersonate legitimate property owners.

LTSA created BC Property Connect a secure online service that allows owners to track property updates and protect their most valuable asset.

First, you need to download and set up the BC Services Card mobile app.

Then, you will receive a unique one-time code to set up your BC Property Connect account.

A bit of peace of mind.

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Lila Versus The Zucchini - 2026 Edition

Every year we have Lila pose in front of a large zucchini, both for reference and our amusement. This year the prize zucchini is smaller than any previous year. Furthermore, this is one of only 3 zucchinis that grew all season.

It has been an unusual year in the garden. Temperatures fluctuated more than usual, the tomatoes are late, and the squash harvest has been pathetic.

Sadly, not a single neighbour was accosted with zucchini gifts or had zucchini lovingly, (and anonymously), left in their cars for them. Sorry neighbours, hopefully we'll have better luck next year.

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Pepper Bounty

Behold this magnificent pepper in all it's glory! How will we ever be able to consume this bounty?

Needless to say, the canning equipment is coming out and we will eat like Queens for weeks!

We're thinking red pepper jelly, but we welcome any additional ideas.

Comments

All The Tomotoes

This year the crop that really shone has been the tomatoes. Better late than never! This pic represents only a fraction of the haul. The entire kitchen is covered in bowls of ripening tomatoes, waiting to meet their culinary destiny.

Michelle has mastered the classic marinara sauce, but her real specialty is spicy ketchup. Good thing we grew that huge pepper! Fortunately, a few peppers were adequately sized, and we still have a bunch of habanero peppers from last year in the freezer.

Tomatoes were all grown completely organically and came out delish! This haul will keep us in various sauces and ketchup for the whole year.

In gardening, as in life, you win some, you lose some.

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The Bank of Canada, Increased Flexibility & the Elephant in the Room

West Coast Mortgages - Mortgage Brokers

Jamie Moi ~ Michelle Chandra

team@westcoastmortgages.ca
604-534-6504
http://www.westcoastmortgages.ca/

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Foreclosure Lists

Attached - Mission, Abbotsford (1)
Detached - Burnaby, New West (1)
Attached - Tri Cities (1)
Detached - Tri Cities (1)
Detached - Abbotsford
Attached - Chilliwack, Sardis (1)
Detached - Langley, Cloverdale (1)
Detached - Chilliwack, Sardis (1)
Attached - Langley, Cloverdale (1)
Detached - N. Delta
Attached - Pitt Meadows, Maple Ridge (1)
Detached - Pitt Meadows, Maple Ridge, Mission
Attached - Surrey, N. Delta
Detached - Surrey 1
Detached - Surrey 2
Detached - Pitt Meadows, Maple Ridge, Mission 2
Detached - Pitt Meadows, Maple Ridge, Mission 1

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No Change From The Bank Of Canada

By Jamie Moi, Mortgage Broker July 15, 2026

There was little surprise this morning when the Bank of Canada opted to hold steady for the 6th consecutive time, meaning that Prime rate remains at 4.45%. Despite inflation threats and continuing trade uncertainty, the Bank acknowledged that many Canadians are facing financial strain and that the war in the Middle East continues to be a risk factor.

By many accounts, the Canadian economy is showing signs of improvement. The housing market has shown a slight increase in home sales month-over-month and Dr. Sherry Cooper, Chief Economist for the DLCG Group, indicated that, "Buyers and sellers are increasingly finding common ground on pricing, reflected in firmer sale-to-list price ratios, shorter selling times, and a marked slowdown in price declines. These developments suggest that the period of market adjustment is largely behind us and that home prices are beginning to find a floor."

Dr. Cooper noted that pent-up demand for housing is expected to create increased sales activity in the second half of 2026 and this is being led by single-family homes. The condo market has struggled, especially in light of less investor participation in the sector. However, Dr. Cooper also notes that financing conditions are improving and, as excess inventory is absorbed, the condo market should begin to strengthen, though it certainly won't happen over night.

There is no doubt that the war in the Middle East is a major contributing factor for the Canadian economy and the increased cost of living. While the Bank of Canada cannot mitigate the impact of an external factor, maintaining the Prime rate may help affordability here at home.

Fixed rates, which are set based on bond rates, have seen a bit of stabilization. Though fixed rates still seem to be less attractive to many borrowers due to the affordability of variable rate mortgages at this time.

If you are in a variable rate mortgage or have a line of credit, you can breathe easy for another month as rates are not changing for you.

If you have any questions about your mortgage financing feel free to call us anytime. We are always happy to help!

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Open Reverse Mortgages: Ultimate Flexibility

We recently got to work with a lovely retired couple who were downsizing their home. With all their children grown and having kids of their own, Barbie and Ken, (names have been changed to protect confidentiality), felt their 3200 square foot house was a bit too big for them.

Fortunately, they were able to find an amazing one level townhouse in a 55+ building, right near the golf course that Barbie loves. What Ken loves is that the yard maintenance is built-in so he no longer needs to mow the lawn.

The only problem was that their house was listed, but had not yet sold. Good thing we are in the solution business! For Ken and Barbie the solution was a CHIP OPEN Mortgage, a fantastic product with the flexibility to keep these awesome clients from losing out on the new home they had already grown to love.

Using a CHIP OPEN we were able to finance the equity in Ken and Barbie's house, allowing them to buy their new townhouse right away and simply pay off the mortgage in a few months when their house did sell.

The best part is that, because we used a CHIP OPEN, the couple did not have to qualify on income for the funds they needed. They did not have to make any payments and there was NO penalty when the mortgage was paid off.

Barbie and Ken are now happily settled in their new home, with no mortgage, and we could not be more thrilled for them. We are suckers for a happy ending. :)

Ask us today if a CHIP Reverse Mortgage could be an option for you or someone you love. We are always here to help!

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The Elephant Garlic in the Room

It's Michelle's second favourite time of the gardening year, garlic time! There are very few things more satisfying than yanking on the drying husk of a plant and pulling a ginormous head of garlic out of the ground.

The head pictured above is especially ginormous because it is elephant garlic. It is interesting to note, at least it's interesting to garden nerds like us, that elephant garlic isn't truly garlic, it's a member of the leek family. It is a little milder and has a different texture than true garlic. It is VERY hard to push it through a garlic press without squirting yourself in the eye, and yes, we we learned that the hard way.

This year we ended up with far too many heads of elephant garlic and some of them stayed in the ground a wee bit too long, meaning they won't store nicely long term. So we are going to have to try something new and pickle a bunch of the giant cloves. A terrible shame, we know. ;)

Can't wait to try this new delicacy in the coming weeks. The garden gives us something different and exciting every single year.

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Bank Of Canada Made No Change, But the Geese Did!

West Coast Mortgages - Mortgage Brokers

Jamie Moi ~ Michelle Chandra

team@westcoastmortgages.ca
604-534-6504
http://www.westcoastmortgages.ca/

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Foreclosures

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The Bank Of Canada Has Heald Steady - Prime Is Still 4.45%

A wee bit of a delay in getting this information out, as Jamie has been down for the past two weeks with a case of pneumonia. Fortunately, she is now on the mend and happy to report that the Bank of Canada met last week and opted to hold their rate steady again. Core inflation fell to 2.0% in April and, despite the ongoing war in Iran driving up inflation, the Bank of Canada is willing to "bolster the Canadian economy amid unprecedented trade uncertainty and a record oil price shock" according to DLCG Chief Economist Dr. Sherry Cooper.

We have seen the fixed rates bouncing up and down with most terms hovering between 4% - 5%. This has made variable terms more attractive.

If you are interested in a deeper dive into the Bank of Canada's decision, click here to read what Dr. Sherry Cooper has to say.

Comments

Strawberry Fields Forever

Ok, not really. But definitely strawberry beds for us! This year Jamie decided that our previously potted, and very crowded strawberry plants, (which Michelle grew from seed a couple years ago, gardener flex!), needed a bigger home.

So we made that happen, because what mortgage broker can resist helping a move up buyer. ;)

The new strawberry beds are thriving and the berries we have had so far have been absolutely delicious.

Strawberries are a patience game. We will have a small crop this year but, hopefully, in a couple years we will be making jam. Can't wait!

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Beautiful, Deadly Nature

Living so close to nature, we are constantly reminded that we have very little control. Every year we are surprised by what ends up growing in our river-side yard, and every year it's different.

These beautiful flowers have popped up this year and have attracted a lot of large Western Tiger Swallowtail butterflies. The hummingbirds also seem to love them.

Although the butterflies and birds enjoy them, these lovely flowers are actually the very poisonous Foxglove of the genus Digitalis. While the digoxin extracted from this genus is used to create heart medication, Foxglove can be deadly to mammals if ingested.

Fortunately, the dogs don't seem interested in the plant at all and the pollinators love it. So, for now, the gorgeous, deadly flower stays.

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It's Baby Time!

Last month we introduced you to our resident Canadian geese friends. This month they disappeared for a few days and reappeared with a gaggle of goslings!

These babies are certainly not brand new, so these very good goose parents clearly had them hidden and protected for a while. Sadly, the littlest babies tend to end up spread all over our lawn if the parents aren't careful. (See our newsletter article from a couple years ago entitled "Murder Most Fowl"). Nature is beautiful, but not always kind.

This sweet family come for a cool dip in the river almost daily. We are are excited to watch the babies grow up over the rest of the season. We will be especially excited if they continue to stay out of our actual yard. The amount of excrement a single goose can produce is truly mindboggling, never mind a whole family of 5!

Comments

CLAIM YOUR HOMEOWNER GRANT

It's Property Tax time.

The due date is always July 2nd of every year.

If you pay your tax on a monthly installment, then you should not have to worry about making payment. In this case, it should state at the top of the bill that your lender has already paid on your behalf etc.

Don't forget to claim your home owner grant though. For eligibility requirements and to apply for the home owner grant, call 1-888-355-2700 or visit gov.bc.ca/homeownergrant.

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Bank of Canada Keeps a Steady Rate, a Smiling Samson & a Gift Horse

West Coast Mortgages - Mortgage Brokers

Jamie Moi ~ Michelle Chandra

team@westcoastmortgages.ca
604-534-6504
http://www.westcoastmortgages.ca/

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Foreclosures

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No Changes To Prime Rate As Fixed Rates Bounce Around

The Bank of Canada met this morning and, to little surprise, they maintained their overnight rate, keeping Prime at 4.45%. We have seen fluctuations to the bond market, primarily due to the conflict in Iran, and increased oil prices, which means that lenders have been changing up their fixed rates quite a bit.

With mortgage rates having come down over 1% in the last year, we are seeing more activity in the real estate market. Finally!

If your rate is over 5% it might be worth a conversation to see if refinancing is worthwhile. It never hurts to ask! We are always happy to help answer any of your mortgage questions.

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The Bank of Canada held its key interest rate and is warning of higher inflation. Here’s what you need to know.

By Annie Bergeron-Oliver for CTV

Updated: April 29, 2026 at 11:36AM EDT

Published: April 29, 2026 at 5:54AM EDT

OTTAWA — The Bank of Canada is holding its key policy interest rate at 2.25 per cent for the fourth consecutive time as it warns of higher inflation for the short term.

In its first monetary policy report (MPR) since January, the central bank projects inflation will peak around three per cent in April, before declining to its two per cent target early next year.

That drop in inflation is based off an assumption that U.S. tariffs will remain at the current rate and that oil prices will drop from US$90 in the second quarter of 2026 to US$75 a barrel by mid-2027. That’s a 15-dollar-per-barrel increase since the bank’s previous MPR.

“After more than a year with inflation close to the two per cent target, higher global energy prices are pushing inflation up,” Bank of Canada Governor Tiff Macklem said in his opening remarks. “The surge in gasoline prices combined with still-elevated food price inflation is squeezing more Canadians.”

A deeper dive into the various components of the consumer price index (CPI), which measures inflation, shows that rent and food prices remain higher than average, while other components have dropped back to their historical norms.

Continue reading here...

Comments

Samson's Still Smiling

It has been hard times recently for our sweet little Samson. Poor Sam had to have surgery to remove bladder stones last month. Though we aren't sure if it was harder on him or his mommies!

He has recovered like a champ and is now almost back to normal. A big shout out to the wonderful team at Boundary Bay Veterinary Hospital for taking such good care of our boy, even if he was considered a violent offender and mostly tried to eat all the staff.

He may be our sweet baby boy, but he is 13 and can be a little grumpy when he's in pain. Fortunately, none of the excellent staff was injured... much.

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Don't Look a Gift Horse In The Mouth

Or maybe this title should be "Don't look a gift cherry tree in the mouth". Last month we told you about the unexpected gift of a cherry tree from Michelle's mom, and how we hoped it would do something in its first year.

Well, Spring has sprung, and the little tree has shown us her first cherry blossoms. They smell amazing! While it remains to be seen if we will actually get any cherries, the little tree is proving to be a beautiful addition to the back yard.

The apple tree is also in full bloom and now we are thinking that we need another fruit tree back there. We would love to hear your suggestions for what does well on the water in the Fraser Valley!

Comments

Can't Get More Canadian Than That!

This month our pair of Canadian geese returned to the riverbank to nest. They are large, loud, demanding and worth steering clear of. We are extremely grateful that, unlike years past, the geese have kept to the riverbank and not filled our yard with poop. At least not yet.

Currently our view is the geese nesting by a rushing river in front of snow topped mountains. All we are missing is a family of beavers industriously building a dam and a bathing moose. Talk about Canadian!

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Fixed Rates Are Increasing! Should You Lock In Now?

West Coast Mortgages - Mortgage Brokers

Jamie Moi ~ Michelle Chandra

team@westcoastmortgages.ca
604-534-6504
http://www.westcoastmortgages.ca/

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Fixed Rates Driven Up By Bond Rates

We have recently seen a sudden increase to bond rates which are driving fixed rates up. If you are in a variable rate and have considered locking your mortgage in, now may be the time. We are expecting an increase to fixed rates by as much as 0.3% by midnight tomorrow for most lenders.

If you wish to lock in you will need to contact your lender directly. If you need assistance with this, please let us know.

Comments

Bank of Canada Holds Policy Rate Steady

By Dr Sherry Cooper, Chief Economist for DLCG

Posted Mar 18, 2026

Keep reading here...

Comments

Fixed Rates Rising, No Change To Prime and Lila's Retirement Advice

West Coast Mortgages - Mortgage Brokers

Jamie Moi ~ Michelle Chandra

team@westcoastmortgages.ca
604-534-6504
http://www.westcoastmortgages.ca/

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March Foreclosure List

Abbotsford Attched
Abbottsford Detached
Burnaby Attached
Burnaby Detached
Langley Attached
Langley Detached
Maple Ridge, Pitt Meadows Attached
Maple Ridge, Pitt Meadows Detached
Mission Detached
New Westminster Attached
New Westminster Detached
North Vancouver West Vancouver Attached
North Vancouver West Vancouver Detached
Port Coquitlam, Coquitlam, Port Moody Attached
Port Coquitlam, Coquitlam, Port Moody Detached
Richmond Attached
Richmond Detached
Surrey Delta Cloverdale Detached A
Surrey Delta Cloverdale Detached B
Surrey, North Delta, Cloverdale Attached
Tsawwassen, Ladner Attached
Tsawwassen, Ladner Detached
Vancouver East Attached
Vancouver East Detached
Vancouver West Attached

Comments

BoC holds interest rate, but warns of downstream effects of Iran war

ByAnnie Bergeron-Oliver for CTV News

Updated: March 18, 2026 at 11:44AM EDT

OTTAWA — The Bank of Canada held its principal interest rate at 2.25 per cent Wednesday, but warned rising oil and natural prices caused by the war in Iran will push up inflation in the short term.

In its latest monetary policy decision, Canada’s top bankers painted a picture of a weaker-than-expected economy that is facing new levels of uncertainty because of the war.

“Canada’s economy is dealing with a lot. And now, we face more volatility,” Bank of Canada Governor Tiff Macklem said in his opening remarks at Wednesday’s rate announcement.

Data released by Statistics Canada this week shows inflation dropped to 1.8 per cent in February from 2.3 per cent in January. Both reports represent data largely collected before the U.S.-Israeli strikes. The March CPI data, Macklem said, will be higher.

But how big the war’s impact will be, the bank says, depends on how high oil prices go and how long the conflict lasts.

“Inflation in Canada has been close to the two per cent target for more than a year,” Macklem said. “But, as we’ve seen, the war in Iran is causing oil prices to move sharply higher and this will push up inflation in the short term.”

Continue reading here...

Comments

GST Rebate for First-Time Homebuyers Comes Into Effect

By Tony Spagnolo from Spagnolo LLP

Great news - the GST Rebate for First-Time Homebuyers has finally come into effect!!

Announced last spring by the federal government, the bill received Royal Assent last week and eliminates “the Goods and Services Tax (GST) for first-time home buyers on new homes up to $1 million and reducing the GST for first-time home buyers on new homes between $1 million and $1.5 million.” The Canada Revenue Agency will now be able to start processing rebate claims.

Please note that the rebate will generally apply to agreements of purchase and sale entered into on or after March 20, 2025, and before 2031.

If you were a first time home buyer and purchased a new home under $1,500,000 between March 20, 2025 and today, contact your lawyer to apply for the rebate.

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Lila's Retirement Advice

Having recently turned 70 in dog years, Lila has been seriously thinking about retirement. Like many folks in the Fraser Valley, she will be house rich and on a fixed income.

Fortunately, Lila has found a solution, and she wants to know if you or someone you love is over the age of 55 and looking to eliminate their mortgage payments?

Have you heard of CHIP Reverse Mortgages by Home Equity Bank? They help Canadians like Lila remain in their homes longer, by basing mortgage qualification on your property and your age.

No income qualification required, and you never need to make a payment for as long as you remain in your home.

Let us help you free up equity in your home to pay down loans, do renovations or repairs, or to help increase your monthly income.

Call West Coast Mortgages to find out more, and speak to Lila's trusted staff, Jamie and Michelle, today!

Comments

When Life Gives You Lemons

Given that we have a little bit of south facing land, Michelle's Mom likes to show up with surprise fruit trees. Last summer she came by with a lapin cherry tree crammed into her little car.

Michelle dutifully spent several sweaty hours digging a hole in our very rocky yard to lovingly plant the little tree. Hopefully, this summer we will have a few cherries to add to the giant apple haul that we usually get.

Two years ago Mom showed up with a Meyer lemon tree. Being a tropical tree, it has to come inside in the winter. Sadly, the little lemon tree did not do very well for it's first couple winters indoors. It lost nearly all of it's leaves and seemed on the brink of death, repeatedly.

This year we figured it out, bought a grow light, and we finally got a decent haul of Meyer lemons, a cross between a mandarin orange and a regular lemon. We are so glad that we managed to bring the tree back from the brink because these lemons are delicious!

So now we have three fruit trees and are well on our way to being a micro orchard! OK, not really... but we have decided that when life gives us lemons, we will just be grateful and eat them.

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1881 Makes a Great Night Out in the Wack!

Chilliwack has changed so much since we moved out here 7 years ago! One of the best new things about Chilliwack is District 1881. Filled with interesting shops and great restaurants, District 1881 brings an upscale Whistler-esque feel to the valley.

A few weeks ago we had a great evening at Fortitude Wine Bar and snapped a pic of some of the Chinese New Year decor. The whole area is usually decorated for whatever holiday is on the horizon, with Christmas being especially magical.

If you haven't been out to Chilliwack recently, you are missing out. It's a lot more than just farm land and excellent corn these days, though there is still plenty of both.

If you are considering a move out to the more affordable Chilliwack area, give us a call to see how we can help!

Comments

Bank Of Canada Update, Happy New Year & Welcome to the Village

West Coast Mortgages - Mortgage Brokers

Jamie Moi ~ Michelle Chandra

team@westcoastmortgages.ca
604-534-6504
http://www.westcoastmortgages.ca/

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Foreclosure Lists

Attached - Chilliwack & Sardis (1)
Attached - Mission & Abby
Attached - Langley (1)
Attached - Burnaby & New West (1)
Attached - Pitt Meadows & Maple Ridge (1)
Detached - Chilliwack & Sardis (2)
Attached - Tri Cities (1)
Attached - Surrey, Delta & Cloverdale
Detached - Chilliwack & Sardis (1)
Detached - Langley
Detached - Mission & Abby
Detached - North & South Surrey (1)
Detached - Tri Cities (1)
Detached - Pitt Meadows & Maple Ridge (1)
Detached - North Delta & Cloverdale
Detached - North & South Surrey
Detached - Surrey 2
Detached - Surrey 1

Comments

Bank of Canada Holds Policy Rate Steady

By Dr. Sherry Cooper - Chief Economist for the DLCG Group

January 28, 2026

Today, the Bank of Canada once again held the policy rate steady at 2.25%. This is the bottom of the Bank’s estimate of the neutral overnight rate, where monetary policy is neither expansionary nor contractionary. With inflation hovering just above 2% and core inflation falling to 2.5%, the Governing Council sees the current overnight rate as appropriate, “conditional on the economy evolving broadly in line with the outlook published today. Inflation was 2.1% in 2025, and the Bank expects inflation to stay close to the 2% target over the projection period, with trade-related cost pressures offset by excess supply.”

According to the press release, “Economic growth is projected to be modest in the near term as population growth slows and Canada adjusts to US protectionism. In the projection, consumer spending holds up, and business investment gradually strengthens, with fiscal policy providing some support. The Bank projects growth of 1.1% in 2026 and 1.5% in 2027, broadly in line with the October projection. A key source of uncertainty is the upcoming review of the Canada-US-Mexico Agreement.”

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Renewal Readiness: Steps You Should Take Every 5 Years

Many borrowers treat mortgage renewal as a routine task. They receive a notice from their lender, sign it, and move on without asking questions. This can lead to paying much more interest than necessary.

Your renewal is actually a great chance to negotiate better terms, since lenders want to keep your business. Starting early gives you time to prepare and puts you in a stronger position to ask for a better deal.

To prepare, begin reviewing your finances six to twelve months before renewal. Check your income, credit score, future plans, and monthly budget to see what you can improve.

This is also a good time to rethink your mortgage plan, compare rates from different lenders, and review the fine print of your current loan. Some borrowers may even benefit from switching lenders if better options are available.

With early planning and careful review, your mortgage renewal can help you save money, and set yourself up for the next five years with confidence.

Please contact us for a complimentary and confidential mortgage review, so we can assess your current situation to see how you may save when it's time to renew your mortgage.

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West Coast Mortgages Has Joined The Village At Mortgage Architects

Happy New Year!! We hope that 2026 is the very best kind of year, filled with happiness, ease and prosperity!

We have some extremely exciting New Year's news to share with you! Over the last few months our team has been working hard on transitioning to a new brokerage within the Dominion Lending Group family. We are excited to announce that we are now a part of Mortgage Architects and, most importantly, we have joined The Village.

The Village is a group of like-minded mortgage brokers, all working within our own businesses, but focusing on collaboration and maximizing our access to lenders. Over the past 22 years, you have watched us grow and expand, and our alliance with the Village allows us to bring you even higher levels of service and increased mortgage product options. Our partners within The Village are some of the most productive brokers in Canada, and we are excited to be able to tap into their knowledge and systems.

Your mortgage is one of the most important pillars of your financial plan, and we value the trust you have placed in us to assist you. We are still West Coast Mortgages and we are now adding Village Mortgage Architects to our name, which means more products and lenders may be available to you. Because sometimes doing the very best possible job for our clients can take a Village.

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Flooding In The Wack

Generally, we really love living right on the Chilliwack River. However, the last couple of months have been just a wee bit stressful.

In December we had an atmospheric river, which flooded many of our neighbours' properties. Fortunately, the water did not reach the high water mark from the 2021 atmospheric river on our property, and we remained unscathed. However, in the picture above you may be able to see a couple trees on the other side of the river that were knocked down by the rushing water. She is powerful!

Then, earlier this month, we were under an Evacuation Alert, again due to risk of flooding. This time the warm weather, combined with the rain, caused too much snow melt on the surrounding mountains. This was our first time having the firefighters come to the door to warn us, which was exciting in the worst way. We are very grateful that the extreme weather has subsided, at least for now. Hopefully things will remain calm for the remainder of the wet season. Fingers crossed!

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BC Assessments Are Out, With Fun New Features

BC Assessments are now available online, and the system has some really cool upgrades. When you search your address, you can now also see the assessments of your neighbours' homes, plus you can see which homes in your area have sold in the past year and for how much.

This is great news if, like us, you happen to be mildly obsessed with real estate. Happy searching!

Check out your BC home here... https://www.bcassessment.ca/

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Bank Of Canada Holds Steady, Fixed Rates Up & Lila Turns 10!

West Coast Mortgages - Mortgage Brokers

Jamie Moi ~ Michelle Chandra

team@westcoastmortgages.ca
604-534-6504
http://www.westcoastmortgages.ca/

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December Foreclosures

Abbotsford attached
Abbottsford Detached
Burnaby Attached
Burnaby Detached
Langley Attached
Langley Detached
Maple Ridge, Pitt Meadows Attached
Maple Ridge, Pitt Meadows Detached
Mission Detached
New Westminster Attached
North Vancouver West Vancouver Attached
North Vancouver West Vancouver Detached
Port Coquitlam, Coquitlam, Port Moody Attached
Port Coquitlam, Coquitlam, Port Moody Detached
Richmond Attached
Richmond Detached A
Richmond Detached B
Richmond Detached C
Sunshine Coast
Surrey Delta Cloverdale Detached A
Surrey Delta Cloverdale Detached B
Surrey, North Delta, Cloverdale Attached
Tsawwassen, Ladner Attached
Tsawwassen, Ladner Detached
Vancouver East Attached
Vancouver East Detached
Vancouver West Attached

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Bank of Canada Holds Overnight Rate Steady at 2.25%

By Dr. Sherry Cooper, Chief Economist for Dominion Lending Centres

Today, the Bank of Canada held the policy rate steady at 2.25%. This is the bottom of the Bank's estimate of the neutral overnight rate, where monetary policy is neither expansionary nor contractionary. With inflation hovering just above 2% and core inflation between 2.5% and 3%, the Governing Council sees the current overnight rate as "about right."

According to the press release, "The Bank expects final domestic demand to grow in the fourth quarter, but with an anticipated decline in net exports, GDP will likely be weak. Growth is forecast to pick up in 2026, although uncertainty remains high and large swings in trade may continue to cause quarterly volatility."

In the United States, economic growth is supported by strong consumption and a surge in AI investment. The US Federal Reserve is likely to cut its policy rate by 25 bps to 3.5%-3.75% as President Trump lobbies Chair Jay Powell for more dramatic rate cuts.

Continue reading here...

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Blockbuster jobs report blasts through expectations in November

Strong Canadian Job Growth Drove the Unemployment Rate Down to 6.5%

By Dr. Sherry Cooper, Chief Economist for Dominion Lending Centres

Today’s Labour Force Survey for November blew past expectations for the third consecutive month.

The Canadian economy added 53,600 jobs in November, marking the third straight month of unexpectedly strong gains amid US tariffs that otherwise slowed activity.

Employment rose by an impressive 180,000 since September, marking the strongest three-month period for job gains since about a year ago. The employment increase has also more than reversed job losses over Canada’s summer months.

Where gains were most significant

Youth hiring led the latest gains, with employment growth heavily concentrated among those aged 15 to 24. That strength pulled the youth unemployment rate down to 12.8%, from a peak of 14.7% earlier this year, underscoring improved conditions for younger workers even as broader cyclical headwinds persist.

The employment increase last month was also driven by part-time work and the private sector. Health care and social assistance led the job gains, with employment rising by 46,000 in that sector.

Part-time positions rose by 63,000 (1.6%). Over the past three months, part-time employment has increased by 2.7% (103,000), outpacing the 0.5% (78,000) growth in full-time jobs over the same period.

Continue reading here...

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Lila Lou Turns 10!!!

Our precious little angel, Lila Lou, hit double digits this month!

Turning 10 is a big deal for this little girl, considering her multiple knee surgeries, slipped disc and the troublesome shape of the bones in her back legs. Our vet once told us that she was going to be "here for a good time, not a long time", but Lila had other ideas. She has an indomitable spirit, and a zest for life the likes of which we have never seen.

Lila also has very specific likes and dislikes. She is a big fan of snacks, (specifically crunchy vegetables), going on walks, more snacks, harassing her big brother Samson, (she is sitting on him in this pic), singing the songs of her people, and additional snacks. She strongly dislikes baths, not getting snacks, loud noises, wet feet and, once again, lack of snacks.

Happy Birthday, little one, we expect to celebrate many more happy years with you. We love you, Lila Lou!

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Being Poopy at Pottery

Over the last few months we have been attending Pottery on the Wheel classes at the wonderful Chilliwack Cultural Centre. What a fun time!

Granted, we are quite bad at it, and it appears it will take more than a handful of classes to actually get good. However, Jamie turned lemons into lemonade when her perfect bowl fell apart and she managed to save enough to create a Saskatchewan Roughriders ash tray.

Jamie would also like to acknowledge that the Riders won the Grey Cup this year and the smirk has yet to leave her face. GO RIDERS!

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It's Apple Pie Season Again!

Around this time of year we usually share pictures of perfect, golden, whole apple pies. But who knows how they look on the inside, right? Well, here is proof that they are gorgeous all the way through.

There is no doubt that Michelle has mastered the art of making of apple pies... even if she does suck at pottery!

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Prime Rate Drops to 4.45% - Is Your Rate Over 5%? Let's Drop It!

West Coast Mortgages - Mortgage Brokers

Jamie Moi ~ Michelle Chandra

team@westcoastmortgages.ca
604-534-6504
http://www.westcoastmortgages.ca/

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Foreclosure Lists

Detached - Tri Cities
Detached - Mission & Abbotsford
Detached - South Surrey, Delta & Cloverdale
Detached - Burnaby & New West
Detached - Maple Ridge & Pitt Meadows
Detached - Langley
Detached - Chilliwack & Sardis
Attached - Tri Cities
Attached - Langley
Attached - Surrey, N. Delta & Cloverdale
Attached - Chilliwack & Sardis
Attached - Abbotsford
Attached - Burnaby & New West
Detached - Surrey_opt

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Do You Have A Mortgage Rate Over 5%? Let's Drop Your Rate!

As interest rates are falling, there are often opportunities for us to help save you money. If your current interest rate is over 5%, we may be able to save you some cash. The calculations are simple, we just need to collect the following information from you, and we can run the numbers:

- your current mortgage balance

- your current mortgage rate and term (for example, 5.36% in a 5 year term)

- your current mortgage lender

- start date of your mortgage term

Simply email us that information, and we will be happy to explore options for getting you a lower mortgage rate and saving you some hard earned money.

Email or call us today! We are always here to help.

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Bank of Canada Lowers Policy Rate to 2.25%

By Dr Sherry Cooper - Chief Economist for Dominion Lending Centres

Today, the Bank of Canada lowered the overnight policy rate by 25 bps to 2.25% as was widely expected. This is the bottom of the Bank's estimate of the neutral overnight rate, where monetary policy is neither expansionary nor contractionary. The economy will grow at about a 0.5% pace in Q3, causing the Bank to cut rates again at the final meeting this year on December 10. The easing will then end, but rates will remain relatively subdued until more trade uncertainty is alleviated.

The Fed is widely expected to cut rates by 25 bps this afternoon as well.

Today's Monetary Policy Report suggests that the significant decline in export growth will persist for some time. Layoffs in trade-dependent sectors have already slowed considerably, especially in Ontario, Quebec, and some softwood lumber businesses in several provinces. The central bank acknowledged that "because US trade policy remains unpredictable and uncertainty is still higher than usual, this projection is subject to a wider-than-normal range of risks."

"In the United States, economic activity has been strong, supported by the boom in AI investment. At the same time, employment growth has slowed and tariffs have started to push up consumer prices. Growth in the euro area is decelerating due to weaker exports and slowing domestic demand. In China, lower exports to the United States have been offset by higher exports to other countries, but business investment has weakened. Global financial conditions have eased further since July and oil prices have been fairly stable. The Canadian dollar has depreciated slightly against the US dollar."

Continue reading here...

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Samson Turned 13!

Our precious little man turned 13 this month!

Sam has been with us for all of our adventures. As a pup, he wore out every other dog, and a few of the humans, at doggy daycare, and had to be separated to stop playing. He partied with any pup that would hang with him at the little dog park in Langley. He got used to eating in restaurants and hanging with the street dogs during our time in Mexico. He made friends with a massive white boxer during our time in Vancouver. He earned the title of "most ferocious teddy bear" while protecting us from our neighbours, during our brief stint in Abbotsford. He lovingly welcomed his little sister, Lila, just as soon as he decided not to kill her. And he took to moving to the river like a fish to water, (pun intended).

He may be a mature little man now, but he can still party like a pup, protect us from the evil (in his mind) fishermen at the river, and snuggle like the perfect teddy bear.

He celebrated this milestone by devouring his favourite food, a juicy little steak.

Happy Birthday, Samson!

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Coho Salmon Extravaganza

One of the many great joys of living on a river is access to amazing fresh fish. Now, full disclosure, neither of us actually fish, but we do know enough to never look a gift fish in the mouth.

Recently, our lovely neighbour graciously offered us a few Coho Salmon, fresh out of the Chilliwack River, and goodness were they delicious! Our freezer is now all stocked up on salmon cakes and potato salmon croquettes. Of course, we would never forget the dogs, so they also have some yummy pup cakes to look forward to.

To be honest, if we had to catch and clean fish, we would never get to eat it. So we are super grateful to have a neighbour who enjoys doing both!

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It's Apple Time Again!

It was another amazing year for our little apple tree! This sweet, little tree was in very rough shape when we moved in, but, with annual professional trimmings, and some runoff organic fertilizer from the garden, she has once again offered us a bumper crop.

We have already made a ton of apple sauce and given away several kilos to neighbours. Which means it's about to be apple pie season! Stay tuned for pictures of flaky crusts and layers of sweet, tender apples. Yum!

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