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



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.



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. 



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!



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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