Fixed Rates Rising, No Change To Prime and Lila's Retirement Advice

West Coast Mortgages - Mortgage Brokers

Jamie Moi ~ Michelle Chandra

team@westcoastmortgages.ca
604-534-6504
http://www.westcoastmortgages.ca/

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March Foreclosure List

 

Abbotsford Attched
Abbottsford Detached
Burnaby Attached
Burnaby Detached
Langley Attached
Langley Detached
Maple Ridge, Pitt Meadows Attached
Maple Ridge, Pitt Meadows Detached
Mission Detached
New Westminster Attached
New Westminster Detached
North Vancouver West Vancouver Attached
North Vancouver West Vancouver Detached
Port Coquitlam, Coquitlam, Port Moody Attached
Port Coquitlam, Coquitlam, Port Moody Detached
Richmond Attached
Richmond Detached
Surrey Delta Cloverdale Detached A
Surrey Delta Cloverdale Detached B
Surrey, North Delta, Cloverdale Attached
Tsawwassen, Ladner Attached
Tsawwassen, Ladner Detached
Vancouver East Attached
Vancouver East Detached
Vancouver West Attached



BoC holds interest rate, but warns of downstream effects of Iran war

 

ByAnnie Bergeron-Oliver for CTV News

Updated: March 18, 2026 at 11:44AM EDT

OTTAWA — The Bank of Canada held its principal interest rate at 2.25 per cent Wednesday, but warned rising oil and natural prices caused by the war in Iran will push up inflation in the short term.

In its latest monetary policy decision, Canada’s top bankers painted a picture of a weaker-than-expected economy that is facing new levels of uncertainty because of the war.

“Canada’s economy is dealing with a lot. And now, we face more volatility,” Bank of Canada Governor Tiff Macklem said in his opening remarks at Wednesday’s rate announcement.

Data released by Statistics Canada this week shows inflation dropped to 1.8 per cent in February from 2.3 per cent in January. Both reports represent data largely collected before the U.S.-Israeli strikes. The March CPI data, Macklem said, will be higher.

But how big the war’s impact will be, the bank says, depends on how high oil prices go and how long the conflict lasts.

“Inflation in Canada has been close to the two per cent target for more than a year,” Macklem said. “But, as we’ve seen, the war in Iran is causing oil prices to move sharply higher and this will push up inflation in the short term.”

Continue reading here...



GST Rebate for First-Time Homebuyers Comes Into Effect

 

By Tony Spagnolo from Spagnolo LLP

Great news - the GST Rebate for First-Time Homebuyers has finally come into effect!!

Announced last spring by the federal government, the bill received Royal Assent last week and eliminates “the Goods and Services Tax (GST) for first-time home buyers on new homes up to $1 million and reducing the GST for first-time home buyers on new homes between $1 million and $1.5 million.”  The Canada Revenue Agency will now be able to start processing rebate claims. 

Please note that the rebate will generally apply to agreements of purchase and sale entered into on or after March 20, 2025, and before 2031. 

If you were a first time home buyer and purchased a new home under $1,500,000 between March 20, 2025 and today, contact your lawyer to apply for the rebate.



Lila's Retirement Advice

 

Having recently turned 70 in dog years, Lila has been seriously thinking about retirement.  Like many folks in the Fraser Valley, she will be house rich and on a fixed income.

Fortunately, Lila has found a solution, and she wants to know if you or someone you love is over the age of 55 and looking to eliminate their mortgage payments?

Have you heard of CHIP Reverse Mortgages by Home Equity Bank? They help Canadians like Lila remain in their homes longer, by basing mortgage qualification on your property and your age. 

No income qualification required, and you never need to make a payment for as long as you remain in your home. 

Let us help you free up equity in your home to pay down loans, do renovations or repairs, or to help increase your monthly income.  

Call West Coast Mortgages to find out more, and speak to Lila's trusted staff, Jamie and Michelle, today! 



When Life Gives You Lemons

 

Given that we have a little bit of south facing land, Michelle's Mom likes to show up with surprise fruit trees. Last summer she came by with a lapin cherry tree crammed into her little car. 

Michelle dutifully spent several sweaty hours digging a hole in our very rocky yard to lovingly plant the little tree. Hopefully, this summer we will have a few cherries to add to the giant apple haul that we usually get. 

Two years ago Mom showed up with a Meyer lemon tree.  Being a tropical tree, it has to come inside in the winter. Sadly, the little lemon tree did not do very well for it's first couple winters indoors. It lost nearly all of it's leaves and seemed on the brink of death, repeatedly.

This year we figured it out, bought a grow light, and we finally got a decent haul of Meyer lemons, a cross between a mandarin orange and a regular lemon.  We are so glad that we managed to bring the tree back from the brink because these lemons are delicious!

So now we have three fruit trees and are well on our way to being a micro orchard! OK, not really... but we have decided that when life gives us lemons, we will just be grateful and eat them.      



1881 Makes a Great Night Out in the Wack!

 

Chilliwack has changed so much since we moved out here 7 years ago! One of the best new things about Chilliwack is District 1881. Filled with interesting shops and great restaurants, District 1881 brings an upscale Whistler-esque feel to the valley. 

A few weeks ago we had a great evening at Fortitude Wine Bar and snapped a pic of some of the Chinese New Year decor. The whole area is usually decorated for whatever holiday is on the horizon, with Christmas being especially magical.  

If you haven't been out to Chilliwack recently, you are missing out.  It's a lot more than just farm land and excellent corn these days, though there is still plenty of both. 

If you are considering a move out to the more affordable Chilliwack area, give us a call to see how we can help! 



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