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Showing posts from September, 2025

Bank of Canada Cuts Rate to 2.5%: What It Means for Families in Surrey and Abbotsford

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  A Shift in Canada’s Mortgage Landscape On September 17, 2025 , the Bank of Canada lowered its policy rate to 2.5% , marking a 25-basis-point cut. This decision comes as Canada grapples with weaker exports, slower growth, and a softer labour market. Inflation is cooling — headline CPI was 1.9% in August — but underlying pressures like housing costs remain sticky. For families in Surrey and Abbotsford , where affordability has been a persistent challenge, this rate cut offers a chance to revisit mortgage strategies. Whether you’re renewing, refinancing, or preparing to buy, the new rate environment shapes both opportunities and risks. To better understand how affordability is measured, see mortgage affordability and its key factors in Canada . What the Rate Cut Means for Borrowers Fixed Mortgages Falling bond yields are pushing fixed mortgage rates lower , with 5-year fixed options now available in the 4.2%–4.6% range . These are the most competitive levels seen ...

Multi-Generational Mortgages in Abbotsford and Surrey: A 2025–2026 Guide for Families

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  Why Multi-Generational Mortgages Are Growing Even with the Bank of Canada holding rates at 2.75% , affordability challenges remain steep in BC. In Surrey , average benchmark prices exceed $1 million, while Abbotsford homes average in the high $800,000s. For many families, the solution is a multi-generational mortgage — where parents, children, and sometimes grandparents pool resources to qualify for larger loans and share long-term costs. This approach is especially popular in Surrey and Abbotsford, where affordability pressures, cultural norms, and demographic shifts all support multi-generational living. Benefits of Multi-Generational Mortgages Increased Buying Power: Combining incomes helps families qualify for higher loan amounts. Shared Costs: Mortgage payments, utilities, and maintenance are divided. Financial Security: If one member experiences income loss, others can help cover payments. Family Support: Shared living often ...

Green Mortgages in Abbotsford and Surrey: 2025–2026 Outlook for Buyers and Homeowners

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  Why Green Mortgages Matter With the Bank of Canada holding its rate at 2.75% , affordability remains a challenge in BC housing. But in Abbotsford, Surrey, and the Fraser Valley, more buyers are exploring green and energy-efficient mortgages — financing tools that reward eco-friendly homes and renovations. These products help homeowners reduce utility costs, access rebates, and even secure better lending terms when making energy-efficient upgrades. What Is a Green Mortgage? A green mortgage (or energy-efficient mortgage) provides financial incentives to buyers or owners who: Purchase homes built to energy-efficient standards Finance eco-upgrades like insulation, heat pumps, or solar panels Bundle renovations into a purchase or refinance For a primer on affordability basics, see mortgage affordability and its key factors in Canada . Benefits of Green Mortgages Lower Costs: Reduce energy bills with efficient systems. Increased Value...

Your 2025–2026 Guide to Co-Ownership Mortgages in Surrey and Abbotsford

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  Why Co-Ownership Is Rising Despite the Bank of Canada holding its policy rate at 2.75% , affordability remains one of the biggest barriers for homebuyers in British Columbia. In Surrey, average benchmark home prices sit above $1 million, while even Abbotsford’s more affordable market stretches budgets. One solution growing in popularity is the co-ownership mortgage , where two or more buyers pool resources to purchase a property. Unlike co-signing, all buyers share ownership rights, mortgage liability, and equity growth. For a primer, see co-ownership mortgages in BC . Benefits of Co-Ownership Lower Entry Costs – Buyers split down payments, making it easier to qualify. Stronger Applications – Multiple incomes boost approval odds under stress test rules. Shared Expenses – Maintenance, taxes, and utilities become more manageable. Increased Buying Power – Co-owners can access larger or better-located homes. For context on affordabil...