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The Challenge of being Millennial

In recent years there has been a surge of discussion surrounding the challenges that Generation Y, or the Millennials, will be experiencing as they enter the work force.  The key items of discussion are (a) Education Costs (b) Cost of housing - both important topics because they both heavily impact an entire generations ability to be upwardly mobile. If we consider first the cost of education ...

Why use a Mortgage Broker? Here's 10 reasons.

Why use a Mortgage Broker instead of a bank? For many people looking to purchase a home for the first time, there is often a lot of questions around "where do I start?". Many have no idea what a Mortgage Broker does exactly, and prefer to just go into their local bank. The problem with this is that their local bank has only one product to offer, their own. As Mortgage Brokers, we have access ...

Centum Financial Group Appoints New CEO

Centum Financial Group Appoints New CEO   VANCOUVER, BC (February 4, 2014) – Centum Financial Group, part of the Charlwood Pacific Group of companies (CPG), is pleased to announce the appointment of Martin Charlwood to the role of Chief Executive Officer. Concurrently, Don Lawby will be retiring from his important role as President and Chief Operating Officer of Centum Financial ...

Looking at the Bigger Picture

All parties – bankers, lenders, mortgage brokers — have a responsibility to perform due diligence with every valued client we deal with. However, there is one step that is either over looked, or not valued, by some folks in this business. And it is a step that I feel should probably be held in the highest interests: placing our clients in a mortgage that will be serviceable not just today, ...

Housing Bubble?

CTV reported that Minister Flaherty stated he would act again if needed to cool an over heated market.  For most Canadians this could translate in to stiffer rules when applying for home financing.  For most existing home owners changes would only have an impact if they choose to purchase a new home, refinance their existing mortgage, or at renewal time. When the United States had the market ...

Salt Building in Olympic Village becomes CRAFT beer market.

      It's finally open! After delays over the summer the old Salt Building in Olympic Village has reopend it's doors as CRAFT beer market. I had the opportunity to swing by last night, and it's awesome. Apparently carrying Canada's largest selection of draft beer, CRAFT has 2 other locations in Calgary and Edmonton. They have 140 beers on tap at the new Vancouver location, 55 of ...

Most expensive condo in Vancouver

I could only come up with $22 million, so close. I thought I had it. The penthouse was originally purhased for $25 million, the client then added three sub-penthouses for a total of more than 15,000 square feet. Total cost? $55 million. This gives a new meaning to 5 star. If you're looking to purchase a new home, or considering refincing an existing mortgage, give me a call and let me ...

What will a rate increase mean for you?

With the recent interest rate increase mainstream media has published doom and gloom scenarios about what will happen to the average Canadian home owner.  In a recent article in the Globe and Mail the headline read: "Sink or swim: How will you cope with higher mortgage payments?" We all know that bad news sells.  For most people looking at their personal finances a large jump in mortgage ...

Rates on the rise?

We were promised increases in mortgage rates and it appears we were not let down.  Current Mortgage Rates as at Tuesday August 20th - Prime Rate for Variables is still 3.00% Please note that rate discounts may be available for quick closings (30 to 60 days) 4 Year Fixed: 3.29% 5 Year Fixed: 3.59% 10 Year Fixed: 4.19% Variable 5 Year: Prime -.4% (2.60%) Bank of Canada Benchmark Rate: ...

Canadians Losing Money on their Mortgages

For most Canadians when shopping for a mortgage the simple solution is to walk through the doors of your local bank or credit union branch.  It seems to be that old saying "better the devil you know" is true.  We believe that the bank, trust company or credit union that we have been dealing with for years is the best place to be. In fact in 2012 a whopping 72% of people did just that ...
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