Vancouver Home & Interior Design Show

For those Homeowners in the Vancouver Lower Mainland area you may be interested in the upcoming Vancouver Home and Interior Design Show. This is THE event for anyone just looking for a few ideas and the basics or for someone that wants re-do their entire home. They'll have many exhibits and demonstrations throughout the event. Event runs from Oct 16th to the 19th at BC Place.

Show Dates & Hours

Thursday, October 16 4 pm - 10:00 pm
Friday, October 17 Noon - 10:00 pm
Saturday, October 18 10:00 am - 10:00 pm
Sunday, October 19 10:00 am - 6:00 pm

What does it cost?

Adult (online):	$12.00
Adult (at door):	$14.00
Seniors (55+):	$10.00
Children 7 - 17:	$5.00
Childre ages 6 & under:	FREE

Tickets available at the door – cash only.

Visit here learn more about the Vancouver Home and Interior Design show.

Although I'm not an interior designer I can help finance that big renovation or home update as a Mortgage Broker located in the Vancouver area. I'm always available to answer any questions you might have. Enjoy the show.

Canadian Mortgages and the US Crisis

Canadian Mortgages and the US Crisis

Some of you may be wondering the impact the current US Financial crisis may have on the Canadian economy and the impact on Canadians seeking mortgages.

In Canada our lenders were much more conservative and didn't offer the aggressive mortgage products that the US lenders did. The exposure that Canadian mortgage lenders have is much different than that of the US. The aggressive US mortgage products were big contributors to the current US financial problems. The conservative Canadian mortgage lending practices have allowed us to remain separated from the US credit crisis.

In Canada, we are experiencing an economic slowdown, but nothing like what the US is experiencing. We are also yet to see rising inflation numbers despite the increase in the price of fuel. If we find ouselves in an inflationary environment we will see the impact with higher mortgage rates.

Bank of Canada has stated that they will continue to provide liquidity as required in order to support the stability of the Canadian financial system and the functioning of the financial markets.

The Canadian government is expected to keep interest rates low to stimulate the markets. The Canadian government has taken preventive measures to avoid the housing crisis in the US. As of October 15, 2008 Canadian Banks and mortgage lenders will no longer be able to offer 40 year ammortizations, 100% mortgage financing and minimum credit score requirements.

This will impact the have to become more strict therefor making it more difficult to obtain a mortgage from the big lenders in Canada. I've seen lenders become more and more stringent over the last year. =This approach started with mortgage lenders last year and has accelerated as the US continues to struggle. With that said, all lenders are still happy to provide mortgages to people that can prove income, have a down payment and good credit.

I'm a mortgage broker in Vancouver, BC and offer mortgages throughout BC at the best mortgage rates possible. Visit me at www.MyMortgageBC.com

Don't hesitate to leave your comments and thanks for visiting.

Bank of Canada Holds the Prime Rate Steady

Bank of Canada To Keep Interest Rates Unchanged

Vancouver — My Mortgage BC.com - 03 Sept - The Bank of Canada stuck to its guns on interest rates Wednesday, holding the overnight rate at three per cent despite acknowledging that both inflation and the economy are weaker than previously projected.

The central bank's decision to stay on the sidelines for the third consecutive announcement date had been widely predicted.

"There is absolutely no signal here whatsoever they are preparing to cut rates (in the future)."
Scotia Capital economist Derek Holt, who had urged the bank to lower its key interest rate to spur borrowing and boost the economy, was even more blunt, calling Carney's language on the economy as bordering on the "Pollyannish."

With a federal election call expected later this week, the bank may not have wanted to send a strong signal about downside risks to growth, he said.

The market's reaction, boosting the Canadian dollar almost a cent to 94.54 cent U.S. in early trading, was an indication many expected a clearer signal from Carney on future interest rate cuts.

Inflation currently stands at 3.4 per cent.

The bank said the economy remains vulnerable to U.S. weakness and tight credit conditions that could further drag down demand for Canadian exports.
"Given these developments, the bank judges that the current level of the target for the overnight rate remains appropriately accommodative," it said.
Porter said the bank may feel that having chopped 1.5 percentage points from the overnight rate since December, it has cut interest rates deep enough.

The Bank of Canada's next interest rate decision will be Oct. 21.

MyMortgageBC.com is a mortgage broker located in Vancouver BC.