Warm Clothing, Warmer Hearts

A huge thank you to everyone who donated to the Realtors Care Blanket Drive! Thanks to your generosity, we collected 38 bags of warm clothing and blankets.

We brought the men’s clothing out to Wagner Hills, and I was truly moved by their mission and the way they support healing, growth, and transformation for the men recovering from addiction. It felt really good knowing our donations will be used by these men as they work outdoors in return for the support and guidance they receive.

The women’s clothing was delivered to Ishtar Women’s Resource Society, where it will support women seeking safety, stability, and a fresh start.
The children’s items were taken to the Salvation Army, helping local families who need a little extra warmth this season.

Warm hearts create warm communities, and this drive proved exactly that.

Coach Home vs. Laneway Home in Vancouver — What’s the Difference?

As more homeowners look for ways to create additional housing or generate rental income, coach homes and laneway homes have become increasingly popular across Vancouver and the Lower Mainland. While both are detached dwellings built on the same property as a main house, they have important differences. Here’s a clear breakdown:

🏡 Laneway Home

A laneway home is a small detached residential unit built where a garage typically sits, facing the back lane. These are most common in the City of Vancouver due to its extensive laneway network.

Key Features:

Located at the rear of the lot, accessed from the lane

Generally smaller in size (often 500–1,000 sq. ft.)

Often used as a rental suite or extended-family accommodation

Can be stratified and sold separately if the zoning and lot qualify

Popular in Vancouver’s densification strategy for single-family neighbourhoods

🏘️ Coach Home

A coach home (sometimes called a “carriage home”) is a detached dwelling located elsewhere on the property, not necessarily at the back or by a lane. These are more common in larger-lot areas such as Surrey, Langley, and Coquitlam.

Key Features:

Placement on the lot is flexible — side, rear, or integrated into new subdivisions

Typically larger than a laneway home

Designed as a rental suite or independent living space for family

Cannot be stratified or sold as a separate property

Often included in newer neighbourhood designs with intentional density

🔍 The Main Differences at a Glance Feature Laneway Home Coach Home Location on Lot Rear, facing a lane Flexible placement Size Smaller Larger Where Common Vancouver Suburban municipalities Ownership Can be stratified and sold separately (if zoning allows) Cannot be stratified or sold independently Primary Purpose Rental or extended family Rental or multi-generational living ✔️ Which One Is Right for You?

If you’re in Vancouver and your lot meets zoning criteria, a laneway home may offer both flexibility and the potential for future stratification.

If you live in suburban areas and want a larger, family-friendly secondary dwelling, a coach home is typically the preferred option.

ARE MILLENNIALS REALLY ENTITLED?

While researching gratitude and thanksgiving, I came cross this Financial Times transcript on "the truth about 'entitled millennnials' by Isabel Berwick and Taylor Nicole Rogers.

Boomers have been unfair in perpetuating this misnomer because they are not displaying entitled behavior but a different set of expectations than any previous generation.

Unlike burning the midnight oil like their parents and grandparents, millennials understand the value of work-life balance, collaboration, and enjoying life now versus waiting for a distant retirement.

They refuse to work in toxic jobs with little or no reward unlike their parents.

There is no spoiled generation, only spoiled people from each generation (Melanie Allen, Journalist).

Celebrating 23 Years!

Celebrating 23 Years in Real Estate 🎉

This month marks 23 incredible years of helping clients buy and sell homes and I couldn’t have done it without you.

To all my amazing clients, friends, and supporters over the years, THANK YOU for trusting me with one of life’s biggest milestones. Your referrals, loyalty, and friendship have made this journey so rewarding, and I’m truly grateful to be part of your stories.

Here’s to many more years of building dreams, creating connections, and helping people find their perfect place to call home. 🏡💫

With heartfelt gratitude,
Mylyne

Featured Listings

7544 Main Street - Public
217-2943 Nelson Place - Public
502-320 Royal Ave - Public
11222 243b Street - Public
858 Stevens Street - Public
191-18701 66 Ave - Public
614-95 Moody Street - Public
401-95 Moody Street - Public
14145 101 Ave - Public
5409 Westwood Drive - Public

How to Prepare Your Home for Winter

Winter is a season that brings along chilly temperatures, snow, and icy conditions. While it is a beautiful time of year, it is crucial to take certain precautions and make necessary preparations to ensure that your home remains warm and cozy during this period. As you take the time to prepare your home for winter, you can not only protect your property from potential damage but also create a comfortable and inviting space to retreat to during the coldest months of the year.

Essential Tips in Preparing Your Home for Winter Heating System Maintenance

Schedule a professional inspection to ensure that your furnace or heat pump is in good working condition. Clean or replace air filters regularly to improve air quality and maximize efficiency. Consider installing a programmable thermostat to regulate temperature and save energy during winter. Additionally, ensure to stock up on sufficient fuel or arrange regular deliveries to avoid running out during the colder months.

Protect Plumbing and Pipe

Drain and disconnect outdoor hoses and shut off exterior water sources. Insulate exposed pipes to prevent them from freezing and bursting. In cold weather, allow faucets to drip slowly to prevent freezing. It is also advisable to know the location of your main water shut-off valve in case of emergencies. You may also insulate your water pipes if you’re planning to take a vacation during winter.

Check Your Roof and Gutter

Clean out gutters and downspouts to ensure proper drainage. Consider installing heating cables along the roof edges to melt ice and prevent the formation of ice dams. Inspect your roof for any damage or leaks and repair them promptly. Additionally, ensure the downspout is away from your home to prevent flooding and water damage. Installing gutter guards is a valuable investment as they can effectively keep debris out.

Continue reading here...

Bank of Canada Lowers Policy Rate to 2.5%

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

Today, the Bank of Canada lowered the overnight policy rate by 25 bps to 2.5% as was widely expected. Following yesterday's better-than-expected inflation report, the Bank believes that underlying inflation was 2.5% year-over-year.

Through the recent period of tariff turmoil, the Governing Council has closely monitored the risks and uncertainties facing the Canadian economy. Three developments triggered the Bank's rate cut. Canada's labour market softened further. Upward pressure on underlying inflation has diminished, and there is less upside to risk to future inflation with the removal of most retaliatory tariffs by Canada. 

Considerable uncertainty remains. However, with a weaker economy and less upside risk to inflation, the Governing Council deemed that a reduction in the policy rate was appropriate to better balance the risks going forward.

"The Bank will continue to assess the risks, look over a shorter horizon than usual, and be ready to respond to new information."

Continue reading here...

Exploring Pike Place!

I had a great time riding the famous bronze pig at Pike Place Market in Seattle while celebrating a good friend’s birthday. It was a fun and silly moment during our 3 hour downtown Seattle food tour. The market was full of energy, with fresh produce, seafood, hidden restaurants, and food stalls around every corner. I highly recommend the tour. It was something different, filling for both heart and belly, and a greatway to explore the city. Let me know if you want my tour guide’s contact info!

Thanksgiving Giveaway!

 Thanksgiving Giveaway Alert! 

Want to win a fun Thanksgiving prize? 
Here’s how to enter:

 How to Enter:
 Follow us on Facebook & Instagram
 Like this post
 Comment what you’re grateful for
 Tag a friend in the comments
 Tag us [@mylyne.associates] and use #ThankfullBC2025

 Deadline to Enter: October 11 at 11 PM
 Winner Announced: October 12 at 12 PM
 Prize: A cozy Thanksgiving Gift Basket

We can’t wait to see your heartwarming memories and read what you’re thankful for! 

20th Wedding Anniversary

I recently celebrated 20 years of marriage with my high school sweetheart, which means we've officially been together for 30 years!!  That’s three decades of love, laughter, and pretending to agree on what to watch on Netflix.. :)

To celebrate, we bought each other golf drivers and tons of balls.  Because nothing says “cheers to 30 years” quite like trying to outdrive each other on the fairway.  The competition is on!  

This picture was taken at Furry Creek, tough course, but our new fave!  Come join us!

Real Estate Market in Summer 2025: A Look at the Current Trends

As we head into the second half of 2025, the real estate market continues to shift, creating a more balanced environment for buyers and sellers. Here's a quick look at what's happening.

Prices and Sales

Home prices are seeing a slight decrease nationally, but the market is highly regional. In some of the most expensive provinces like Ontario and British Columbia, prices are seeing larger declines. In more affordable regions such as the Prairies and Atlantic Canada, prices remain more stable or are even rising. Sales have also been down as many are taking a "wait-and-see" approach.

Interest Rates

Interest rates have been a major influence. While the Bank of Canada has made some rate cuts this year, overall mortgage rates haven't dropped significantly. This has led many prospective buyers to hold off on purchasing, waiting for more favorable borrowing conditions.

What This Means for You

For Buyers: This could be an opportunity. With more homes on the market and less competition, you may have more options and negotiating power.

For Sellers: You may need to adjust your expectations. Pricing your home competitively and making sure it's in top condition is crucial to standing out.

For Everyone: The market is always changing. Staying informed about local trends is key to making a sound decision.

Off to a Great Start: Making the Most of the New School Year!

The new school year is officially underway, and we hope everyone has had a positive and exciting return to the classroom. As students throughout the Lower Mainland settle into their new routines, a little planning can go a long way in making this a successful year.

Here are a few tips to help your family get into a great rhythm:

Communicate and Connect: Now is a great time to talk about the day's highlights. Ask questions like, "What was the most interesting thing you learned today?" to open up conversations about their new experiences.

Embrace the New Routine: Homework time, bedtime, and morning routines all help set the stage for success. Sticking to a consistent schedule helps children stay focused and well-rested.

Stay Organized: Keep a central spot for school notices and forms to avoid missing important dates and information.

We are so excited to see all the learning and growth that will take place this year. Wishing everyone a wonderful start to the school year!

Reap what you sow...

Harvesting what you’ve grown is a powerful reminder that the effort you put in today pays off tomorrow. The same goes for real estate, it’s an investment that takes planning and care, but over time, it grows into something valuable. Whether it’s a garden or a home, putting down roots in the right place can lead to lasting rewards.

Changes to First Time Home Buyer G.S.T. Rebate

From Tony Spagnolo - Spagnolo LLP  https://bcrealestatelawyers.com/

On May 27, the Federal Government issued a press release that is very important for first time home buyers of new homes (and co-ops): a full GST rebate on homes under $1 million, and a partial rebate on homes between $1 million and $1.5 million.

Per the press release (the link to which is found at the bottom), the Excise Tax Act will be amended to provide a rebate to first time home buyers. In basic terms, it means that First Time Home Buyers will still pay the GST on the closing of a purchase of a qualifying home but will be eligible for a rebate of the full amount (up to $50,000).

The rebate is phased out in a linear manner from $1-1.5 million. So for example, a home that is $1.4 million would lose 80% of the rebate – in other words, it would still be eligible for a 20% ($10,000) rebate!

This policy will hopefully spur some activity in the pre-sale market and help first time buyers enter the market.

The full press release can be found here: https://www.canada.ca/en/department-finance/news/2025/05/gst-relief-for-first-time-home-buyers-on-new-homes-valued-up-to-15-million.html

Passport Control

If a trip out of the country is coming your way, make sure you follow these two passport tips.

First, be aware of when your passport expires. Travel can be restricted if there is less than six months left on your passport. Renewing your passport can take longer than it should and there are options to obtain an emergency passport but best be prepared.

For international travel, passports generally need at least one blank page, but some countries may require two to four blank pages. The specific number can vary depending on the destination country's visa requirements. It's advisable to check the specific requirements of your destination country before traveling. Here's a more detailed breakdown:

One page: This is the minimum requirement for many countries, as it's needed for visa and entry/exit stamps according to Canada.ca.

Two or more pages: Some countries require more than one blank page.  For example, countries that issue full-page visas or have strict entry/exit stamp requirements may need more blank space according to Travel Stack Exchange.

Checking with your airline: Some airlines may have their own policies regarding blank pages and may not allow boarding if you don't meet their requirements. Checking with the embassy: According to Travel Stack Exchange, while some embassies don't specify exact numbers, it's always a good idea to check with the specific embassy of your destination country for their requirements. 

🎓 Exciting Announcement! 🎓

We are thrilled to share the wonderful news that our eldest son has been accepted into Arizona Christian University's Bachelor in Business Administration program with a Major in Entrepreneurship! What's more, he has been awarded a baseball scholarship to continue playing as a catcher for the well known ACU Firestorm team.

We couldn't be prouder of his accomplishments and the bright future that lies ahead. Please join us in wishing him all the best as he gears up for this exciting adventure, with his move to Arizona scheduled for August.

Budget 2024 housing highlights: capital gains inclusion rate on secondary homes rises to 66.7%

Housing was a key priority in today’s federal budget, though it came as no surprise given the array of housing-related policy announcements unveiled in recent weeks.

The 2024 budget included $52.9 billion in new spending plans, which will result in a projected deficit of $39.8 billion this fiscal year before gradually declining to $20 billion by 2028-29.

Many of the budget’s commitments are focused on easing the affordability challenges facing young Canadians, particularly when it comes to achieving homeownership.

Conversely, many of the new tax announcements are aimed at wealthier Canadians.

Change to capital gains inclusion rate

One new measure unveiled today that will impact some real estate transactions was the increase to the capital gains inclusion rate. This applies to annual gains above $250,000 for individuals and to all gains for corporations and trusts.

The new rate rises from 50% to 66.7% for dispositions on or after June 25, 2024, including sales of non-principal residences (such as vacation homes or investment properties).

The budget reaffirmed that sales of principal residences “will remain fully exempt from the tax on capital gains.”

Roughly 4.4 million Canadians (11%) own at least two homes, according to 2023 research from Royal LePage.

Let’s say you own a second vacation home that you originally bought for $200,000 and you sell it for $500,000. The profit you made from the sale is $300,000.

Under the previous tax rules, you would include 50% of your $300,000 gain in your taxable income for the year. That means you would pay taxes on $150,000 of your profit.

With the new tax rules, the capital gains inclusion rate has increased to 66.7%. This means you now have to include 66.7% for annual gains above $250,000. This means you still include 50% of the first $250,000 and 66.7% of your next $50,000 gain in your taxable income, meaning you would pay taxes on $158,350 of your profit.

Taxable amount for the first $250,000: 250,000 × 0.50 = $125,000Taxable amount for the next $50,000: 50,000 × 0.667 = $33,350Total taxable amount: $158,350

Other housing announcement highlights

The Liberal government unveiled numerous initiatives and policy announcements in the past several weeks. This included the release of its 28-page housing strategy entitled ‘Solving the housing crisis: Canada’s Housing Plan.’

Among some of the highlights of those announcements:

30-year amortizations for some first-time buyers: Starting August 1, the maximum amortization will be raised from 25 to 30 years for first-time buyers purchasing a new-build property with a down payment of less than 20% (an insured mortgage). The government also proposed changes to the Canadian Mortgage Charter that would allow permanent amortization relief for qualifying existing homeowners.
Increase to the Home Buyers’ Plan limit:Starting today, first-time buyers will be able to withdraw up to $60,000 (previously $35,000) from their Registered Retirement Savings Plan (RRSP) tax-free for the purchase of their first home. This includes an extension of the grace period to start repaying the loan by an additional three years.
Additional protections for renters in the form of a Canadian Renters’ Bill of Rights. This includes the launch of a Tenant Protection Fund and leveraging rental payment history to improve credit scores.
Housing Accelerator Fund increase: A $400-million top-up to this $4-billion fund.
A plan to build 3.87 million new homes by 2031, including 2 million net new homes in addition to the 1.87 million homes that the Canada Mortgage and Housing Corporation forecasts will be built by that year.
The launch of Canada Builds, a program that combines federal low-cost loans with provincial and territorial investments to scale up the construction of rental homes on under-utilized lands.
$10 million invested in the Skilled Trades Awareness and Readiness program to motivate high school students to pursue careers in the skilled trades.
$50 million directed to the Foreign Credential Recognition Program, specifically to support residential construction and assist skilled trades workers in building more homes.
$90 million for the Apprenticeship Service, to create apprenticeship opportunities to train and recruit the next generation of skilled trades workers.
Modernizing housing data: $20 million for Statistics Canada and CMHC to modernize and enhance the collection and dissemination of housing data, including municipal-level data on housing starts and completions.
Cracking down on mortgage and real estate fraud: The government said it plans to consult with the mortgage industry on developing income verification toolsthrough the Canada Revenue Agency.

Our Top Presale Picks

Click for more information, pricing and downpayment structure.  Contact us for private viewings.

1.  Pkwy by Bosa in Surrey

2.  Azure in Langley

3.  Fraser Mills in Coquitlam

4.  Reign at Metrotown

5.  Stowa in Surrey

6. Scale in Langley

7.  Ethos at Metrotown

Spring Home Renovation Tips: Refresh And Renew Your Space

As the snow melts and the days grow longer, the arrival of spring brings with it a sense of renewal and rejuvenation. For many homeowners, it’s the perfect time to tackle home renovation projects that not only enhance the aesthetics of their living spaces but also improve functionality and efficiency. Here are some essential tips to help you refresh and renew your home this spring:

1. Plan Ahead: Before you dive into your renovation projects, take the time to plan. Decide on the areas of your home that need the most attention and prioritize projects based on your budget and the time you have available. Consider both aesthetic updates and practical improvements that can increase your home’s value.

2. Focus on Curb Appeal: Spring is the ideal season to enhance your home’s exterior. Simple updates like painting your front door, replacing old house numbers, or adding fresh landscaping can make a significant impact. Consider pressure washing your siding, driveway, and walkways to remove winter grime.

3. Refresh Your Paint: A fresh coat of paint can breathe new life into any room. Spring’s natural light can help you assess which areas of your home could benefit most from a repaint. Opt for light, airy colors to reflect the season and make your spaces feel larger and more inviting.

4. Update Your Lighting: As the days get longer, natural light changes the ambiance of your home. It’s a great time to reassess your lighting fixtures and consider upgrades or additions that enhance the brightness and mood of your rooms. Energy-efficient LED lights can also help reduce your electricity bills.

5. Optimize Your Outdoor Space: With warmer weather on the horizon, focusing on your outdoor living area is a wise move. Whether it’s repairing your deck, setting up a new patio area, or planting a garden, these renovations can extend your living space outdoors and provide a serene retreat.

6. Tackle the Clutter: Spring cleaning is a pivotal part of the season. Use this time to declutter and organize your home. Consider adding new storage solutions or reorganizing existing ones to maximize space and functionality.

7. Think Green: Incorporating energy-efficient updates can lead to long-term savings and contribute to a healthier planet. Consider double-pane windows, enhanced insulation, or eco-friendly materials for your renovation projects.

8. Hire Professionals When Needed: While DIY projects can be rewarding, some renovations require a professional touch. Hiring experts for electrical work, plumbing, or structural modifications ensures safety and adherence to local building codes.

Spring is a time of new beginnings, making it the perfect season to refresh and renew your home. By planning carefully and focusing on both aesthetics and functionality, you can create a more comfortable, efficient, and beautiful living environment. Remember, small changes can make a big difference, setting the stage for a year of enjoyment in your freshly updated home.

Attn: Small Businesses

Whalley Little League's Annual Event

Looking to get some exposure for your business in Surrey.  This is event is earning its reputation in town. 

Click here for sponsorship info.

Top 10% Team with the Vancouver Real Estate Board

We just wanted to say a huge thank you for always supporting and trusting us. We could not have achieved this recognition without you.

BC Government Budget Affecting Real Estate

 BC Government Unveils New Housing Measures in 2024 Budget 

The BC Government has recently introduced a range of new housing measures in its 2024 budget, aimed at addressing the ongoing housing crisis in British Columbia.

BC Home Flipping Tax: Starting January 1, 2025, a new tax will be implemented on the sale of residential properties within two years of purchase, targeting speculative real estate practices. This move is expected to contribute to stabilizing housing prices and increasing the availability of affordable homes. Exemptions to the home-flipping tax will be available to people who face unavoidable life changes, including death and divorce, job relocation or loss, and people who are adding to B.C.’s housing supply.

Enhanced Property Transfer Tax Exemptions: Significant improvements have been made to make home ownership more accessible. The First Time Homebuyers’ Program has been expanded, with increased thresholds allowing more buyers to benefit from tax exemptions. This includes full exemptions for homes valued up to $835,000 and partial exemptions for those up to $860,000, potentially saving buyers up to $8,000. Furthermore, buyers of newly built homes valued up to $1.1 million will enjoy reduced costs, encouraging the purchase of new properties.

Bare Trust

New trust reporting rules came into effect December 31, 2023, which apply to bare trusts in Canada.  If you have co-signed a mortgage for a home where you hold at least 1% of the title, and you are not living in that home, these new rules apply to you. 

Most commonly, these new rules will apply to parents who have co-signed for their children's mortgage and, subsequently, hold 1% of the title of that home.  If you do not file a T3, the penalty can be as much as $2500 or 5% of the fair value of the property held in trust.

If these rules apply to you, you have until April 2, 2024 to file a Schedule 15.  Please contact your accountant for further assistance in making your filing.

Click here to watch a video about this

Another Presale in my portfolio!

I'm thrilled to announce that we've included a 4th presale in our portfolio. A junior 2bdrm unit for $635,900. Here are the five compelling reasons behind this decision.

Attractive Investment Terms: With only a 10% down payment and an expected completion in 2028, this presale offers favorable terms compared to our other units completing in 2024 and 2025.

Rapid Appreciation in Property Value: Downtown Surrey concrete condos have shown a remarkable increase of $100/sqft in the last two years. Using a conservative estimate of a similar increase over the next four years, my initial investment is poised to grow by an impressive 92%.

Strategic Timing for Family Use: By 2028, we anticipate having two adult children, providing the option for them to potentially reside in the property. This not only adds a personal touch but also presents an opportunity to save on property transfer taxes.

Flexibility with Assignment: The presale comes with the advantage of a zero assignment fee for the 1st 75 units sold. This allows us the flexibility to potentially assign the contract for a profit before completion, with the only cost being the administrative fee.

Sentimental Value and Evolving Area: The property's proximity to Whalley Ballpark, which his is close to my heart. Furthermore, the evolving nature of the area suggests limitless potential for growth and development.

For more presale opportunities, feel free to give me a call.  I'll share the pros and cons.

Speculation And Vacancy Tax

Residential property owners in the designated taxable areas declare every year for the speculation and vacancy tax, even if there is no change to your information. You must complete your declaration by March 31.

When a property has more than one owner, each person on title needs to make a separate declaration, even if the other owner is your spouse or relative. There may be special circumstances to consider such as a deceased owner or an owner who is out of town during the declaration period.

The fastest and easiest way to declare is online. If you cannot declare online, you can declare over the phone. 

February is Here!! Last chance for income tax savings for 2023!!!

As many of you know, February is the last month to work on getting those income tax deductions for the last year!

Many people have developed annual financial patterns that are lowering their income tax on a regular basis, while saving on building up retirement assets. 

My recommendations;

1) If cashflow is fairly consistent through out your calendar year, I would recommend finding a way to contribute monthly to RSP Accounts for your financial future;

2) If your cashflow is rather lumpy at times or it is not always clear how much income you might earn in a given year, usually lump sums can add flexibility, or allow top ups to a base savings.

3) How much savings is recommended of one's net income for retirement? The rule of thumb these days, is about 10% of Net Income. 

$1,000,000 Savings paying 5%, is $50k per year without erosion

$500,000 Savings paying 5% is $25k per year without erosion

$250,000 Savings paying 5% is $12,500 per year without erosion

Also don't forget that you can borrow funds out of your RSP to use towards your home purchase down payment (first time buyers). If for whatever reason you have been unable to set funds aside, then consider using an RSP loan.

Anti Bullying Day!

We stand united against bullying!

It's Anti-Bullying Day, a time to raise awareness and promote kindness, acceptance, and respect. Together, let's create a culture of empathy and support, where everyone feels safe to be themselves. Join us in spreading kindness and standing up against bullying today and every day!

#AntiBullyingDay #Canada #KindnessMatters 🤝💙

Fully charged for 2024!

We recently returned from a delightful 12-day family vacation in Hawaii, and it was truly an exceptional experience. Our eldest song had the opportunity to participate in a baseball prospect camp at the University of Hawaii, seamlessly aligning with our vacation plans.

During our stay, we did multiple hikes, visited tourist attractions including an unforgettable  fun-filled day at the Polynesian Cultural Center which concluded the night with the best Luau. Interestingly, our favorite activity turned out to be both simple and least expensive – boogie boarding in 4-6 foot waves.  Sometimes the simplest joys make the best memories!

Now that I'm fully charged, I'm ready to work!  With the interest rates remaining steady, it's looking positive in the real estate world.

How updated is your Will?

As we have begun a new year, it is a good time to reflect and consider our lives and see many changes and updates with our extended families and friends. This is also a great time to consider how up-to-date, your Will is. If this is something that was crafted many years ago, it should probably be reviewed to ensure that the Will is current.

These things are very easy to push off to another time, however the fact is that none of us knows how much time we have, no matter our age.

I would encourage you to think about this and set a goal to review this or craft this for the very first time in 2024!

While there are free and or low cost Will kits available online and in stationary stores, I highly recommend the professional services of a lawyer who will ask you lots of questions about your situation so that your Will can be prepared with your specific circumstances and needs in mind.

I've been a licensed financial advisor since 2016.  For the 1st quarter, my insurance team and I are committed to reviewing insurance policies to ensure you have adequate coverage.  For those who do not have any insurance, we can sit down and find out your options.

Five-year fixed mortgage rates are falling as government bonds drop

A downward trend in some Canadian fixed-mortgage rates may be welcome news for eager homebuyers, but real estate experts warn that housing affordability challenges persist.

Rates for a five-year fixed mortgage have declined with a drop in government bond yields, which set the lending rates for home mortgages, RATESDOTCA real estate expert Victor Tran explained in an interview.

"We’ve been on a downward trend on fixed mortgage rates for a few months now," Tran told BNNBloomberg.ca on Thursday.

He linked the falling mortgage rates to a decline in the government bond market that has been ongoing for the past few months, as the market anticipates central bank interest rate cuts on the horizon. Tran said he expects mortgage rates to fall further if the trend continues.

"There will be further rate drops to come if this continues and variable rates are also likely to drop next year," he said.

'STILL TOO EXPENSIVE'

The decline in rates is encouraging for potential homebuyers, Tran said. But he added that most people are waiting for rates to fall further before making a move.

"Rates still remain too high in Canada and for most people it’s still too expensive and unattainable to own a home at these levels," Tran said.

Toronto realtor Davelle Morrison said she’s observed the same trend as Tran.

"I haven’t seen buyers jumping at these lower rates yet," Morrison, broker at Bosley Real Estate, told BNNBloomberg.ca in a Thursday interview.

She added that most buyers anticipate getting into the market when rates are lower.