Mylene Lim - Pinay Mortgage Broker November 2024

Foreclosures List in BC

Abbotsford Houses
Abbotsford Condos and Townhouses
BC Northern Houses with Acreage
BC Northern Houses Single Family
BC Northern Condos and Townhouses
Burnaby Houses
Burnaby Condos and Townhouses
Chilliwack Condos and Townhouses
Cloverdale Houses
Coquitlam Houses
Ladner Houses
Ladner Condos and Townhouses
Langley Houses
Maple Ridge Houses
Mission Houses
Mission Condos and Townhouses
New Westminster Condos and Townhouses
North Delta Houses
North Surrey Houses
North Surrey Condos and Townhouses
North Vancouver Houses
Richmond Houses
Richmond Condos and Townhouses
South Surrey White Rock Houses
Squamish Houses
Squamish Condos and Townhouses
Sunshine Coast Houses
Surrey Houses
Surrey Condos and Townhouses
Vancouver East Houses
Vancouver East Condos and Townhouses
Vancouver West Houses
Vancouver West Condos and Townhouses
West Vancouver Houses
West Vancouver Condos and Townhouses
Whistler Houses
Whistler Condos and Townhouses

Mortgage Renewal Challenge

Over the next two years, more than 4 million mortgages—around 60% of all outstanding mortgages—are set to renew. A large share of these mortgages haven't come up for renewal since interest rates began rising in 2022. Even with recent rate declines, most borrowers will likely face noticeably higher payments. 

Higher payments could lead households to cut back on spending more than anticipated, potentially slowing the economy. They could also create financial stress for borrowers and result in losses for lenders and mortgage insurers.

If your mortgage is coming up for renewal, don’t wait until the last minute to explore your options. Starting early gives you a better chance of securing a favourable outcome. Reach out to me, and I’ll help you review and compare the available options.