Mortgage Brokers in Abbotsford

Refinancing a mortgage … sounds simple, right? Consider exchanging your current loan for a new one with more favorable terms. Well… not always. For some individuals, the benefits are straightforward: reduced payments, quicker equity accumulation, and reduced stress. For others? More fees, more headaches, and barely any real benefit. Let’s walk through which option could give the best results for your situation. When Refinancing Makes Sense 1. Lower Interest Rates If today’s rates are lower than your current mortgage, refinancing can shrink your monthly payments and save you serious money over time. For example, if you drop your interest rate from 7% to 6% on a $400k loan, that’s thousands staying in your pocket instead of going straight to the bank. These savings can provide you with more cash for life or for that epic vacation you've been planning. 2. Paying Off Your Loan Faster Maybe you started with a 30-year mortgage because it felt safest. But now your income’s up, and you’re...

If you’ve ever looked into buying property, you’ve probably come across the terms “ residential mortgage ” and “ commercial mortgage .” They sound similar—both are loans that help you buy real estate but are divided because both are designed for different situations. Many clients we speak with aren’t sure which would nicely fit their needs. Let’s get some basic knowledge so you can differentiate clearly. Residential mortgages are focused on homes. A residential mortgage is the one most people are familiar with. It’s the property you get when buying a house to live in, whether that’s your first home, a vacation place, or even a small rental property. Lenders mainly look at your job, income, credit history, and how much debt you already carry when approving this loan. Because of that, the process feels more secure and, in most cases, easier. Here’s what usually stands out with residential mortgages: Down payments are smaller (often 5–20%). Loan terms are longer (15–30 years). Interest ra...

On September 17, 2025 , the Bank of Canada (BoC) announced a 25 basis point rate cut , bringing the overnight rate to 2.5% . While the central bank cited weakening exports, rising unemployment, and softening investment as key drivers, the impact of this decision is already echoing through Canada’s real estate markets—from Fraser Valley suburbs to the Alberta prairies . This blog explores how this rate cut is affecting homebuyer confidence , mortgage affordability , and the timing of market decisions heading into Q4 2025. Economic Signals Behind the Cut The September MPR press release noted that Canada’s GDP shrank 1.5% in Q2 2025, while exports fell sharply due to ongoing U.S. tariffs and global trade instability . Meanwhile, employment losses , especially in trade-sensitive sectors, led to a rising unemployment rate of 7.1% , and core inflation held around 2.5% despite broader price softening. For the Bank of Canada, this combination of economic contraction and easi...

  As Canada enters the final quarter of 2025, mortgage decisions are less about chasing rate headlines and more about understanding your position in a stabilizing market . While national attention is on what the Bank of Canada might do next, savvy homeowners and buyers in British Columbia and Alberta are looking beyond speculation and making grounded, tactical moves. Whether you're navigating a renewal, preparing to buy, or simply trying to lower your monthly outflow, here's how to make smart mortgage choices this fall. 1. Market Stability ≠ Market Inactivity Contrary to the common assumption, a stable interest rate environment doesn't mean it's a bad time to act. In fact, stability can be a prime opportunity for: Predictable planning around fixed-rate and hybrid mortgage products Leveraging early renewal options without fear of sudden rate hikes Exploring refinancing or restructuring to relieve monthly cash flow For homeowner...

  As housing prices remain elevated in BC and demand returns in Alberta, shared-equity mortgages have emerged as a key strategy for homebuyers looking to enter the market without bearing the full financial burden alone. This model allows buyers to team up with investors, family, or even government programs to co-purchase a home—splitting both the equity and future gains or losses. In high-demand regions like Surrey , Abbotsford , and South Edmonton , this arrangement is proving especially helpful for: First-time buyers with limited down payment savings Multi-generational families purchasing larger homes Young professionals priced out of standalone ownership How It Works A shared-equity mortgage involves two or more parties contributing to the property’s purchase. The occupant typically pays the mortgage and lives in the home, while the equity partner holds a stake in the home’s value. Unlike a co-signer, the equity partner doesn’t just gu...

  As affordability challenges persist across British Columbia and Alberta , a growing number of prospective homebuyers are embracing a practical solution: co-ownership mortgages . This strategy allows friends, family members, or even business partners to jointly purchase property—splitting costs, responsibilities, and ownership. With rising home prices in Surrey , Abbotsford , and Edmonton , this shared model offers a meaningful path to homeownership for those priced out of solo buying. Why Co-Ownership Is Trending in Late 2025 As of August 2025 , housing inventory is improving slightly in BC’s urban hubs, but prices remain elevated compared to pre-2020 levels. Fixed mortgage rates have stabilized around 4.89%–5.19% depending on the term, prompting many buyers to consider shared ownership as a bridge to enter the market. Here’s what’s driving the trend: High down payments are now easier to meet when split Combined income allows access to better mor...