Shane Ballard - Ballardmoney Newsletter - Edition #55 - July 2018

Shane Ballard - Mortgage Broker

Verico complete mortgage

shane@ballardmoney.com
(778) 882-4602
http://www.ballardmoney.com/

Shane - Facebook Shane - Twitter

July 2018 Foreclosure List

 

July 2018 - Burnaby - Attached
July 2018 - Burnaby - Detached
July 2018 - Coquitlam - Attached
July 2018 - Coquitlam - Detached
July 2018 - Langley - Attached
July 2018 - Maple Ridge - Detached
July 2018 - Mission - Detached
July 2018 - North Delta - Detached
July 2018 - North Surrey - Attached
July 2018 - Pitt Meadows - Detached
July 2018 - Richmond - Attached
July 2018 - Richmond - Detached
July 2018 - Sunshine Coast - Attached
July 2018 - Vancouver East - Attached
July 2018 - Vancouver East - Detached
July 2018 - Vancouver West - Attached
July 2018 - Vancouver West - Detached

Interested in knowing more about Foreclosures? Give me a call at 604-787-4691.



Renewing your mortgage? Doing your homework could save you thousands of dollars

 

OTTAWA — A surge in mortgage renewals, rising interest rates and new stress testing rules will are conspiring to make refinancing your mortgage more complicated and more expensive.

A majority of Canadians renew with their same lender, but it’s still important to check out your options.

Watch the video



Bank of Canada Increases Overnight Rate

 

The Bank of Canada met on July 11 and increased their overnight rate, which lead to lenders increasing their Prime lending rates as well. Don’t panic!  This is normal. Check out the photo above, showing the pattern of the overnight rate going back to 1993.

The overnight rate increased to 1.50%. Just over 10 years ago in 2007, the rate was 4.25% which made Prime rate 6.25% at that time.  With this increase, Prime went from 3.45% to 3.70% for most lenders (TD went from 3.60% to 3.85%).

In reality this is good news because it means the overall economy is growing.  Remember that only variable rate mortgage holders are impacted by increases to the overnight rate and therefore the Prime rate.

If you are a variable rate mortgage holder and have questions or are considering locking in your mortgage, you can call me at 604-786-2788 or Click Here to Schedule a Free Consultation.

The next meeting of the Bank of Canada is September 5th and we will be sure to update you again.



What does the national average home price buy across Canada?

 

The national average home price of $495,100 is enough to buy a 3.3-bedroom home when averaged out across the country. But it’s a different story when buying a home for around $500K in Canada’s major cities, including Burnaby.

In the country’s six most expensive real estate markets, that amount won’t even guarantee two bedrooms, according to a new study by real estate website Point2Homes.

In terms of bang for your buck, Burnaby and Richmond came in joint second-lowest out of the whole country, at an average of 1.6 bedrooms for a budget of around $500K. Coquitlam was fourth nationally, at 1.7 bedrooms on average.

And we can all guess where that national average price buys the smallest home.

Vancouver buyers will see Canada’s lowest number of bedrooms for a budget of around $500K, at just one bedroom on average.



I Love Hiking in BC..........

 

My wife and I love hiking and we have made it our mission to do so much more hiking this year. 

We just completed Joffre lakes provincial park.  This park is a class A provincial park located 35 km east of Pemberton in British Columbia, Canada. Its took us about 3 hours to drive there from Vancouver.

The park was established in 1988 and consist of Three glacier-fed lakes that are located in the park: Lower, Middle and Upper Joffre Lakes.

The water is SO clear and SO freshing and VERY COLD!  

Overall, this ended up being an amazing 4 hour hike.

Grouse Grind coming up this Sunday.....anyone care to join me? 



20 Tips for Protecting Your Home While on Vacation

 

We’ve all heard at least one horror story about a family returning home from a long vacation only to find that their house has been broken into or a pipe has burst in their absence. Problems like these can cost hundreds of dollars to fix and are guaranteed to cause a lot of stress. Fortunately, there are plenty of things you can do to help prevent security breaches while you’re off on a family adventure.

We’ve compiled the following tips to help you prep your house for safety before you go out of town and truly relax while you’re away. Some of them require a little investment and forethought, but taking these steps now will save you from major headaches down the road.

Read Article Here...



Newsletter not displaying properly? Click here to view on the web