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Articles

Articles

  • Gross Domestic Product

    Author: Boychuk Mortgage Group | Sep 20, 2023

    Articles

    GDP in simple terms is the total value of goods and services produced in a specific time frame. It is the main measure used to evaluate how healthy our economy is.

    Click Here To Read The Full Article


  • Unemployment raise rise for the 3rd consecutive month

    Author: Boychuk Mortgage Group | Sep 20, 2023

    Articles

    With another Bank of Canada rate announcement scheduled for the first week of September, it’s important to understand some of the other factors besides inflationary tracking that influences the decision to raise, lower, or hold interest rates.

    Click Here To Read The Full Article


  • Pros & Cons of Extending Your Amortization

    Author: Boychuk Mortgage Group | Sep 12, 2023

    Articles

    Because interest rates have risen rapidly over the past year, if you are up for renewal you may have heard of people choosing to extend their mortgage amortization period to 30 years.

    Click Here To Read The Full Article


  • Inflation Update

    Author: Boychuk Mortgage Group | Aug 31, 2023

    Articles

    Inflationary numbers came in higher for July at 3.3% than the previous months report of 2.8%.

    We saw the most significant increases to energy categories with electricity coming in 11.7% higher than a year ago. We also saw very minimal changes to gasoline prices. Likewise, mortgage interest costs and accommodation continues to lead inflationary increases.

    Click Here To Read The Full Article


  • What types of additional income can I use to help qualify?

    Author: Boychuk Mortgage Group | Aug 22, 2023

    Articles

    When purchasing or refinancing in a market with higher interest rates, you may find it more challenging to qualify for the amount you originally had planned for. However, there are many lenders out there that will consider a variety of different income sources other than your employment income.

    Here is a quick reminder of the different types of income you can use:

    Click Here To Read The Full Article


  • Inflation Update: Canadian inflation drops down to 3.4% for May

    Author: Boychuk Mortgage Group | Jul 12, 2023

    Articles

    Canadian inflation has slowed to 3.4% from the April’s previous report of 4.4%. This is the lowest inflation has been in almost two years. However, much of this decrease can be attributed to fuel and energy costs being significantly lower than this time last year when we saw a spike in energy prices resulting from the Ukraine/ Russian war. Mortgage interest costs also continue to heavily influence inflation with an increase of 29.9% over the last year. We continued to see increases to categories including restaurant food, while grocery prices have remained elevated with no sign of any notable changes from April. Although this…

    Click Here To Read The Full Article


  • Do's & Don'ts during the home buying process

    Author: Boychuk Mortgage Group | Jun 07, 2023

    Articles

    Just a reminder if you are pre-approved or thinking about starting that house hunting journey. 🙂

    Click Here To Read The Full Article


  • What you should know about applying for a mortgage on a strata property

    Author: Boychuk Mortgage Group | May 10, 2023

    Articles

    It’s recommended that your offer should be subject to viewing various strata documents

    A form B will be required by your lender from the last 30 days. This form confirms the current state of the strata including any outstanding levies or special assessments as well as how much money is in the contingency fund.

    Click Here To Read The Full Article


  • Inflation Drops to 4.3%

    Author: Boychuk Mortgage Group | Apr 25, 2023

    Articles

    More good news! ⭐️

    Inflationary numbers for March came in at 4.3%. This is down from the 5.2% we saw the month prior.

    Click Here To Read The Full Article


  • Multi Generational Home Tax Credit

    Author: Boychuk Mortgage Group | Apr 03, 2023

    Articles

    The government of Canada has introduced a Multi-Generational Home Tax Credit

    Click Here To Read The Full Article


  • Inflation numbers decrease again, down to 5.2%

    Author: Boychuk Mortgage Group | Mar 24, 2023

    Articles

    ✨Inflation drops again, down to 5.2%✨

    Inflation numbers fell from 5.9% in January to 5.2% in February, below the target prediction of 5.4% for this past month.

    Click Here To Read The Full Article


  • 4 Ways to Make Money in real estate

    Author: Boychuk Mortgage Group | Mar 23, 2023

    Articles

    Earning monthly cashflow is an important component of qualifying if your goal is to purchase more than one investment property or a primary residence in the future.

    Click Here To Read The Full Article


  • Down Payment Differences

    Author: Boychuk Mortgage Group | Mar 21, 2023

    Articles

    Getting in the market is key, however putting more money down allows for more options when it comes to extending your amortization to lower your monthly payment, utilizing different sources of income, customizing options if you are self-employed, and accessing Home Equity Line of Credit programs.

    Click Here To Read The Full Article


  • Short & Long Term Capital Gains

    Author: Boychuk Mortgage Group | Mar 16, 2023

    Articles

    A few things to know about capital gains. ..

    There are short and long-term capital gains that you can potentially be taxed on.

    Click Here To Read The Full Article


  • Bank of Canada Pauses Rate Hikes

    Author: Boychuk Mortgage Group | Mar 11, 2023

    Articles

    Bank of Canada announced no change to their overnight policy rate, leaving it at 4.5%.

    Click Here To Read The Full Article


  • Improving Credit

    Author: Boychuk Mortgage Group | Mar 07, 2023

    Articles

    A strong credit score not only helps you get approved, but it can also help you secure a better interest rate. ✔️

    Click Here To Read The Full Article


  • Good vs. Bad Debt

    Author: Boychuk Mortgage Group | Mar 06, 2023

    Articles

    Not all debt is bad… in fact there are some forms of debt that are positively impactful on your financial future, help generate income, and grow your net worth.

    ✔️For Instance, having a primary residence with a mortgage helper that allows you to earn equity, and pay down your mortgage instead of a landlord’s mortgage can be considered good debt.

    Click Here To Read The Full Article


  • Self Employed

    Author: Boychuk Mortgage Group | Feb 23, 2023

    Articles

    With tax season upon us, here is something to think about:

    Many people who are self employed tend to capitalize on annual expense write-offs with the intention of lowering their annual income. Whilst this can be very beneficial come tax season, from the view point of the lender, it can have the opposite effect when looking to get a mortgage.

    Click Here To Read The Full Article


  • How much will you need to purchase in Today's Market

    Author: Boychuk Mortgage Group | Feb 17, 2023

    Articles

    It might not be as hard as you think to get in the market right now….

    ➡️Let’s break down what purchasing a condo in the Fraser Valley could look like..

    Click Here To Read The Full Article


  • Do Today What Others Won't, so you can do tomorrow what others can't

    Author: Boychuk Mortgage Group | Feb 15, 2023

    Articles

    This is one of my favourites! It’s not easy making sacrifices, taking risks, and being disciplined, but it makes a difference.

    Click Here To Read The Full Article


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Recent Posts

  • Gross Domestic Product
  • Unemployment raise rise for the 3rd consecutive month
  • Pros & Cons of Extending Your Amortization
  • Inflation Update
  • What types of additional income can I use to help qualify?
  • Inflation Update: Canadian inflation drops down to 3.4% for May
  • Do's & Don'ts during the home buying process
  • What you should know about applying for a mortgage on a strata property
  • Inflation Drops to 4.3%
  • Multi Generational Home Tax Credit
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  • Co-Sign Mortgages
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  • Fixed Rate vs Variable Rate Mortgages
  • Home Equity Lines Of Credit
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  • New To Canada Mortgages
  • Non-Resident & Foreign Income Mortgages
  • Pre-Approval Mortgage
  • Real Estate Investing
  • Refinance To Consolidate Mortgages
  • Self Employed Mortgages
  • Steps To Buying Your Next Home
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  • Home
  • About
    • About
    • Why Boychuk Mortgage Group
    • FAQ
    • Blog
    • Articles
    • Trigger Rates Explained
    • Interest Rate Update – Everything You Need To Know!
    • Mortgage Glossary Terms
  • Services
    • Services
    • Bridge Financing
    • Co-Sign Mortgages
    • First Time Home Buyer Mortgages
    • Fixed Rate vs Variable Rate Mortgages
    • Home Equity Lines Of Credit
    • Investment Property Mortgages
    • New To Canada Mortgages
    • Non-Resident & Foreign Income Mortgages
    • Pre-Approval Mortgage
    • Real Estate Investing
    • Refinance To Consolidate Mortgages
    • Self Employed Mortgages
    • Separation Mortgages
    • Steps To Buying Your Next Home
    • Variable Rate Mortgages
  • Mortgage Calculator
    • Mortgage Calculator
    • Cash Flow Calculator – Rental Properties
    • Fixed vs Variable Calculator
    • Cash Flow Analysis – Monthly Budget
    • Purchase Calculator
    • Closing Cost Calculator
    • Land Transfer Calculator
  • Testimonials
  • Resources
  • Contact Us