Ken's Korner Vol. 65 August 2018

Ken Wiebe - Mortgage Broker

DLC Valley Financial Specialists

info@kenwiebe.com
778-808-9911
http://www.kenwiebe.com/

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Foreclosures

 

Aug 2018 Burnaby Attached
Aug 2018 Burnaby Detached
Aug 2018 Coquitlam Detached
Aug 2018 Coquitlam Attached
Aug 2018 Commercial
Aug 2018 Fort St. John Detached
Aug 2018 Land
Aug 2018 Langley Attached
Aug 2018 Langley Detached
Aug 2018 Maple Ridge Detached
Aug 2018 Mission Detached
Aug 2018 North Delta Attached
Aug 2018 North Delta Detached
Aug 2018 Pitt Meadows Detached
Aug 2018 Richmond Detached
Aug 2018 Sardis Detached
Aug 2018 Surrey Attached
Aug 2018 Vancouver Attached
Aug 2018 Vancouver Detached
Aug 2018 West Vancouver Detached

Above is a list of foreclosures in the Lower Mainland.  There are some great deals to be had for either your own home or as a rental property. 

Check them out at the links above.



Bank of Canada Increases Overnight Rate

 

The Bank of Canada met on July 11 and increased their overnight rate which led to lenders increasing their Prime lending rates in response. This rate only impacts variable rate mortgages and Home Equity Lines of Credit (HELOC).

As shown in the graph above, a history of the overnight rate going back to 1993 shows we are still at historic lows and repeating a familiar pattern. With this increase, Prime went from 3.45% to 3.70% for most lenders.

From a broader perspective, this is good news because it means the overall economy is growing.  

If you are a variable rate mortgage or HELOC holder and have questions, are considering locking in your mortgage or switching to an even lower variable rate mortgage, feel free to call me to discuss your options.

The next meeting/rate decision of the Bank of Canada is September 5th 2018.



Hike of the Month - Norrish Creek

 

This is the second time Norrish Creek has made 'Hike of the Month' although, unlike the eastern side of the creek the previous time, this hike is on the west side.

Make your way to Inch Creek Fish Hatchery in Dewdney and park your vehicle on the shoulder of the road.  Go under/over/around the gate and keep to the left.  

You will follow the creek for about 20 minutes when you come to the cave/tunnel.  This is where we spent our hot, summer afternoon. 

You can go further (another 5 minutes) to reach another pool which has some relatively safe cliff jumping possibilities.  Or you can spend your day next to the tunnel.

The water is cold at first but becomes more inviting as the day wears on.  Check it out!



NEWS - CMHC Makes It Easier For Self-Employed Canadians to Get a Mortgage

 

OTTAWA — Canada Mortgage and Housing Corp. is making changes intended to make it easier for the self-employed to qualify for a mortgage.

The national housing agency says it’s giving lenders more guidance and flexibility to help self-employed borrowers qualify for home mortgages.

Self-employed Canadians may have a harder time qualifying for a mortgage as their incomes may vary or be less predictable and CMHC is now working on correcting some of the impacts the recent qualifying changes have had on the self employed.

There are still great Mortgage Rates available as low as prime minus 0.9%. For details contact me today at: 778-808-9911 or info@kenwiebe.com

Click here to read full article and watch the video



No Air Conditioning? 20 Weird, Wacky Hacks to Stay Cool at Home

 

Now that the summer weather is finally kicking in, it's hard to remember that this is the season everyone longs for during the darker, colder months of the year.

If your home doesn't have A/C (or you are choosing to leave it off as much as possible) you can feel stuck, especially when it comes to getting a restful night's sleep.

Thankfully, a number of innovative thinkers have come to the rescue with a long list of tips ranging from absolutely quirky (but they swear they work!) to "why didn't I think of that!?" good old common sense ideas.

Bookmark this quick list of possible solutions and get started on your cool down plan!

Check out the ideas here...



Wild, Wonky, Wiebe Words

 

Correctly decipher this month's riddle and win bragging rights among your family and friends!

Contest expires August 31, 2018. Phone 778-808-9911 with your answer.

Last month's riddle was "Hoodoo youth in Canada Cup pull debt stew aim oar gauge? Ike Anne!" 

And the correct answer was "Who do you think can add a couple debts to a mortgage? I can!" 

Tip: Have someone read the clue to you while your eyes are closed.

This month's Riddle: As Martin vest meant reek wire sack her if eye sand come it meant.



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