Mortgage Broker Abbotsford

  The Bank of Canada’s July 30 announcement kept its key interest rate steady at 2.75% , signaling a cautious approach as inflation continues to trend downward but hasn’t fully met target levels. For homebuyers and homeowners in British Columbia , this pause presents both challenges and opportunities—especially in markets like Abbotsford and Surrey , where affordability remains a key concern. Why This Decision Matters For those shopping for a home or planning a refinance, this decision provides some much-needed stability. Fixed mortgage rates , driven by bond yields, have seen modest declines over the past month, while variable rates remain unchanged. This means buyers can lock in competitive fixed-rate mortgages now, with potential for even better deals if the Bank signals another cut later this year. For first-time buyers, the combination of steady rates and programs like the GST exemption on new builds can create an excellent opportunity to enter the market. If you’re e...

  Mortgage renewals in 2025 have become anything but routine for homeowners across British Columbia — particularly in regions like Surrey and Abbotsford , where affordability remains under pressure. With five-year terms originating in 2020 now expiring, many borrowers are facing payment increases ranging from 30% to 50%, depending on their original rate, amortization, and lender flexibility. Even though the Bank of Canada’s current policy rate sits at 2.75% as of July 2025, fixed mortgage rates have been slow to follow suit. Bond market uncertainty and lender risk premiums continue to affect pricing, making it crucial for borrowers to take a proactive approach — especially those nearing mortgage renewal in the next 6 to 12 months. One of the most effective strategies emerging in the Fraser Valley is early renewal planning with the help of independent mortgage professionals. In fact, many homeowners are exploring renewal advice from local Surrey brokers who can help navigate...

The Canadian housing market, especially in British Columbia, is undergoing a noticeable shift in 2025. As inflation slows and the Bank of Canada maintains its policy rate at 2.75%, we are entering what economists call a “soft landing” —a cooling without a crash. For prospective homeowners and those already holding mortgages in Surrey, Abbotsford, and surrounding areas, this presents a rare window to make smart, forward-thinking decisions. Why 2025 Is Different Unlike the volatile years of 2022–2023, today's market is marked by: Stable to declining fixed mortgage rates Increased inventory across Greater Vancouver suburbs Stronger buyer incentives, especially for new construction homes Whether you’re buying your first home or reviewing your mortgage strategy, the shift in economic conditions means opportunity—but only if you act with insight. Tip 1: Consider Pre-Approvals Early In a soft market, sellers are more open to negotiation—but pre-approved buyers stil...

Canada’s mortgage market is experiencing a unique phase of adjustment. After years of rapid rate hikes to tame inflation, the Bank of Canada’s current policy rate sits at 2.75% , a level that offers a mix of stability and opportunity for homeowners, buyers, and investors across British Columbia — especially in high-demand areas like Surrey, Abbotsford, and the Fraser Valley. With many wondering whether now is the right time to enter the market, refinance, or lock in rates, this blog dives into how current trends are shaping decisions in 2025 and beyond. Lower Bond Yields Are Cooling Fixed Rates One of the most notable shifts in recent months is the modest decline in fixed mortgage rates , largely driven by falling Government of Canada bond yields. This downward movement is opening up new possibilities for those who were previously priced out of the market or hesitant to commit. In markets like Surrey and Abbotsford, where housing demand remains steady but competition is m...

With the Bank of Canada’s next rate decision approaching on July 30, 2025 , homeowners and prospective buyers across British Columbia are asking a crucial question: Should I lock in my mortgage rate now, or wait for further cuts? While the BoC has already dropped its key rate to 2.75% , there’s growing market speculation of additional easing in the months ahead. But as interest rate dynamics shift rapidly, making the right call depends on your timeline, risk tolerance, and local market activity. Bond Yields Are Dropping — But So Are Opportunities Mortgage rates in Canada—especially fixed ones—are closely tied to government bond yields , not just the Bank of Canada’s overnight rate. Over the past several weeks, 5-year bond yields have steadily declined, prompting lenders to quietly lower some fixed rates by 10–25 basis points. But rate cuts can be short-lived. Lenders often adjust fixed-rate offerings in anticipation of policy moves. In today’s environment, locking in your mo...

With the Bank of Canada holding the policy rate steady at 2.75% , borrowers across British Columbia—especially in high-demand regions like Surrey , Abbotsford , and Langley —have a renewed opportunity to secure better mortgage deals. Whether you're purchasing your first home, approaching a mortgage renewal, or considering refinancing, understanding the current rate climate is essential to making informed financial choices. What the 2.75% Rate Means for Buyers First-time homebuyers are especially well-positioned to take advantage of today’s rates. In addition to improved affordability from falling fixed mortgage rates , the federal GST exemption on homes under $1 million is adding further incentive. If you’re considering entering the market, this could be an ideal time to get pre-approved for a mortgage and lock in a rate before demand intensifies. For guidance tailored to the region, check out this helpful resource on how to get the best home purchase mortgage rates in Sur...