Rates Held Steady as Bank Mulls When to Raise Interest Rates  

The April 2018 decision by the Bank of Canada was to keep interest rates steady at 1.25%. This is, historically speaking, a very low rate. The question for everyone else was not if they’d raise interest rates that had been kept low to prop up the economy but when...

Why Parents Are Helping Their Adult Children Buy Houses

Around a fifth of first time home buyers had help from family, though it takes a variety of forms. Let’s look at a few of the more common reasons why parents are helping their adult children buy homes in Grande Prairie.   “Get Out of My House.”   Around a third of...

Common Mistakes Grande Prairie First Time Home Buyers Make

These are the most common mistakes Grande Prairie first time home buyers make, and we’ll tell you how to avoid making these mistakes yourself.   Buying More than They Can Afford   There are several ways someone buys too much than they can afford. One is buying a house...

A Balanced Look at Mortgage Penalties

What Is a Mortgage Penalty? The lender offered you a home loan on the expectation of earning a certain amount of interest on the loan. If you break the contract early, they’re losing out on that interest. The mortgage penalty is designed to recoup those...

New Mortgage Stress Test

  An Overview of the January, 2018 Mortgage Rule Changes The OFSI issued a set of new regulatory changes in October, 2017 that go into effect on the first of January, 2018. Let’s review the regulatory changes that were approved compared to the rules...