at we know: - The BoC held at 2.25%, and Governor Macklem confirmed it's "about the right level."** This isn't ambiguous. This is the central bank saying we're done. No more drops coming. - **Unemployment is down and economic growth surprised to the upside.** When the economy is performing, central banks don't cut rates. The economy is stronger than expected, which means rates stay put. - **Every major bank economist now agrees: the next move is a hike, not a cut, likely in the second half of 2026.** CIBC expects rates to hold through all of 2026. Scotiabank and the C.D. Howe Institute see no cuts, possibly hikes. This is consensus. Read that again, **possibly hikes**. - **The rate-watching era that paralyzed buyers all year just ended.** The "maybe it will drop another 25 basis points" hope that kept you sidelined? It's gone. And that hope was costing you real opportunity. - **Spring inventory is already building.** Smart sellers list before the rush. The homes that will be available in March and April are being prepped for listing now. You're competing against patient buyers in December. In spring, you're competing against everyone. --- **The Rate-Watching Period is Over** Since early 2024, homebuyers have been in a holding pattern. Every rate cut fed the hope that the next one would be bigger. Last spring looked promising. Summer felt like the turning point. Then the cuts kept coming, four times in 2025 alone, feeding this belief that if you waited just a little longer, maybe rates would drop another 25 basis points. That's done now. Governor Macklem was clear: the current rate is "**about the right level.**" That's not code for "we might cut again." That's central banker speak for "we're staying here." The consensus is clear, this is the bottom. There's nowhere lower to go. --- **What This Means for Your Buying Decision** For months, I've heard it: "I'm waiting for rates to drop more before I buy." Smart people. Cautious people. People who have been watching the data carefully. Not sure that’s a thing anymore. If you've been sitting on the sidelines hoping for sub-2.25% rates, you need to rethink that. The Bank of Canada isn't going lower. Mortgage rates won't magically improve. In fact, some lenders are already adjusting terms as bond yields shift. The deals aren't getting better, they're getting worse. Meanwhile, inventory is tightening. Come January and especially February, the spring rush begins. Fewer homes on the market. More buyers competing. Faster bidding wars. Right now, in December, you have something precious: time and selection. You have agents with capacity. You have sellers who might be more motivated. That advantage disappears fast. --- **A New House Under the Tree Isn't Just a Saying** Here's what I want you to think about: right now, a home that works for you is sitting somewhere on the market. If you start the process this week, getting pre-approved, locking in a rate hold for 120 days, beginning your search, you could have an offer accepted before the holidays. Imagine closing on your home before the spring rush even starts. Imagine having the moving chaos behind you when market madness peaks in March and April. Imagine telling your friends in January that you already found your place because you moved when others were waiting. That's not a crazy idea. That's just being strategic with timing. **Here’s your play:****Stop *rate-watching*. Start *house-hunting*. Call me and get pre-approved. The stability is here. Rates won't drop. The time to act is when everyone's still asking "should I wait?" The answer is no. This could be the year your house sits under the tree. *-Andrew***  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=689ff3ef-4952-4fb2-b3c5-c04cda006dbb&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

the problem smaller. It just made you lose sleep. That's where 1.9 million Canadians are right now. **750,000 mortgages came up for renewal in the last six months of 2025, with another 1.15 million expected in 2026.** And many are choosing not to look. ## The Payment Shock Is Real **Despite recent rate cuts, 60% of renewing borrowers face payment increases averaging 10% higher than December 2024.** That's not worst-case, that's most likely. Someone with a $500,000 mortgage might see their payment jump from $2,400 to $2,640 or more. **81% of those expecting higher payments anticipate financial strain.** Half are planning to cut discretionary spending; a third are cutting essentials like groceries. But here's what's striking: most people are *hoping* that if they don't think too hard about it, it won't hurt as much when it happens. It will. Whether you look or not. When you avoid the renewal, you're not avoiding the problem. Y**ou're avoiding your *****options*****.** Your lender sends a renewal offer. You don't shop around. You don't talk to anyone. And suddenly, you're three weeks from the deadline with no alternatives explored. So you do what 76% of people do: sign with your current lender because it's easiest. But here's what most don't know: **that opening offer is often not their best rate.** Why would your lender offer you their best rate if you haven't asked? Half a percent higher on a $500,000 mortgage renewal?**That’s about $12,000 in extra interest** over five years.**Gone. Because you didn’t want to look. And you're locked in for another five years feeling like something was done *to* you, not something you *chose*. ## What Happens When You Do Look Here's the good news: research shows homeowners who engage early report significantly lower stress and better outcomes.** They're not more stressed because they found out the truth, they're *less* stressed because they have a plan. Your payment is likely going up. That's real. But what's *also* real: you might find a lower rate than your lender's opening offer. You might find a different lender with a better option. You might discover that adjusting amortization or payment frequency actually helps you sleep at night. But none of that happens if you keep your eyes closed. **What you gain by looking: peace of mind.** Not false comfort, real peace from knowing you did what you could to put yourself in the best shape possible. **What you lose by not looking: thousands of dollars, compounding stress, and the knowledge you could have done better.** If your renewal is coming in 2026, call me and I'll help you to: - **Pull out your mortgage documents together.** I'll make sure you know exactly when you renew and help you mark it down so we're ahead of this. - **Get your lender's renewal offer, without you having to sign anything.** I'll request it and review it with you. - **Shop around on your behalf.** I'll call lenders, get rate quotes, and do the legwork. You don't spend an afternoon making calls, I do. - **Compare everything that matters**, rates, prepayment penalties, amortization options, flexibility. I'll break it down so you understand your real options. - **Make a decision from a place of information, not panic.** We'll do this 4-6 months before your deadline so you're in control, not scrambling. You're one of 1.9 million Canadians facing a mortgage renewal. The payment increase is coming whether you acknowledge it or not. But whether you're *prepared*, whether you've found the best option, whether you made an informed choice, that's entirely up to you. **The scary thing isn't facing the number. The scary thing is not knowing it's coming.** But the moment you know, you're no longer a victim of the renewal wave. You're someone steering their own ship. So look. Today. Not tomorrow. And then you can stop worrying and start planning. Because the only thing worse than a payment increase you knew was coming is one that catches you off-guard.  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=18018192-730a-4236-b2e3-91a75933213c&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

the "perfect bottom," you might be walking into a trap. The trap I see many falling into is “Waiting for Spring 2026" **** Major forecasts, including the latest report from Re/Max (Re/Max predicts a [2026 housing market rebound](https://www.ctvnews.ca/business/real-estate/article/housing-market-forecast-what-buyers-and-sellers-should-expect-in-2026-according-to-remax/?utm_source=playbook.myplacemortgages.com&utm_medium=newsletter&utm_campaign=the-myplace-playbook-041)** as sales volume climbs 3.4%.) , are now officially calling for a **housing market rebound in 2026**. The narrative seems to be shifting in that national home sales are projected to climb as buyers finally come off the sidelines, driven by the cumulative effect of rate cuts. Here’s the problem: **The herd is slow.****Most buyers are still sitting on their hands, waiting for Spring 2026 to see if rates drop another 0.25%. But by the time they move, the inventory advantage we have *today* will be gone. Right now, active inventory is up ([~7% year-over-year in October](https://www.crea.ca/media-hub/news/canadian-home-sales-mark-four-year-high-for-the-month-of-september-2/?utm_source=playbook.myplacemortgages.com&utm_medium=newsletter&utm_campaign=the-myplace-playbook-041)), giving you leverage. Come spring that leverage might evaporate into bidding wars. Buying now means securing the price *before* the crowd wakes up. Okay, so you buy now to beat the rush. But how do you finance it without getting stuck on the wrong side of the Bank of Canada? This is where the Variable Rate** shines, not just for the potential rate drop, but for the **exit strategy**. In a market that is still finding its footing, the Variable rate is the ultimate hedge: - **The "3-Month" Escape Hatch:** This is the real secret. Fixed mortgages can come with massive penalties (Interest Rate Differential) if you need to break them early. Variable mortgages generally come with a simple **3-month interest penalty**. - **Why this matters now:** You can buy the home today to lock in the price and take a variable rate to ride the potential cuts. If the bond market offers an irresistible fixed rate next year? You pay a tiny penalty and lock it in then. - **You aren't married to the rate:** With a fixed term, you are committed until 2028 or 2030. With a variable, you are just dating the rate. You keep your options open while securing the asset today. **You can’t lose by acting now, but you *can* lose by waiting for the crowd to return in 2026. Use the Variable rate to keep your options open, but don't let the "perfect rate" distract you from the right price. The Play:** - **Don’t gamble on December 10th.** The next Bank of Canada announcement is just a couple weeks away. Waiting is not a strategy; **a rate hold is**. - **Lock in a killer Variable rate.** It buys you stability today and flexibility tomorrow. - **Beat the 2026 Rebound.** The best time to buy isn't when everyone else is buying. It's right now. So while everyone else is eagerly writing letters to Santa asking for new bikes and hot tubs, write a letter to your favourite Mortgage Broker (me!) and ask for a rate hold. Then you can find out who really delivers come Xmas, me or the guy in the red suit. (P.S I also like milk & cookies). Enjoy the weekend everyone! *-Andrew*  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=5639af83-f329-42a9-85de-26e1ccfb2cd3&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

therwise, it will soon turn to snow. The shops have switched to holiday playlists, Starbucks is handing out those iconic red cups, and every window glows just a little brighter as string lights begin to blanket the city. Retail displays are stacked with gifts and ornaments, coffee shops pulse with that familiar mix of cinnamon and cheer, and the mall is getting ready for Santa’s arrival to make this season special. There are just **35 days until Christmas**. Imagine how much more magical this year could be if it’s spent in your new home, your own living room draped in lights, pine and cocoa in the air, with room for every decoration and every person you want to share it with. Unboxing the ornaments you’ve saved for years, choosing the perfect spot for each one. Waking up to mountain sunlight on a snowy morning, with holiday magic spilling out from your kitchen to the sidewalk. Friends dropping by, boots scattered at the door, laughter bouncing between rooms, stories and cookies and midnight snacks, all under your own roof. Sure, the market has its rhythms and sellers have their strategies. But these moments, when the whole town shifts into celebration, when memories are so easy to make, and when you get the chance to host, decorate, and really belong, don’t wait for interest rates or spring listings. Thirty-five days until Christmas, and everything is ready for you to begin. If you’re reading this and thinking, “Could we actually make it happen in time for Christmas?” , yes, you can. But just as the elves are hurriedly working away, so must you. If you call me **before December 1st** and say, “Andrew, it’s perfect! Let’s go!” , there’s still time, even if it’s a bit tight, to get you in the door before the big day. Plenty of us have closed deals in less time than you’d imagine, and with the right team, holiday magic isn’t just possible, it’s practically a tradition. That means enough days to: - Hang the first string of lights on your new porch - Decorate the tree together in your very own living room - Host Christmas dinner around your own table, with room for all your favorite people and traditions The window’s tight, but it’s real. If you want to wake up in your new home on Christmas morning, surrounded by lights, fresh snow, red cups, and the best gift of all (a place to call yours), all it takes is a call. Make the move, start the memory-making, and let me guide the process. Thirty-five days ‘til Christmas, and your new address is still within reach. *-Andrew*  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=01183813-66bf-4506-b47d-7ee3a500331d&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

uth Africa and elsewhere to fill the technical and professional roles driving our region's critical minerals future. It's real, it’s not some made up marketing fluff, families are searching for homes, calculating living costs, and looking to set down roots in Elk Valley towns, because their new jobs are here. This is not a someday scenario; it's happening now. So why is this happening? Well, you can thank Ottawa for this one, they helped secure the future of mining in our valley. If you've been following the news, along with the drop in rates, PM Carney designated a bunch of mining activities as a matter of national security. I won't bore you with the details, but there's already an influx of new employees coming to work at these mines, and it's only going to grow faster.​ --- Just look at this reddit post from today, November 13th. --- **Ottawa is making moves and it’s not just rates that affect the market here in the Kootenays. ** - **Where will everyone live?****New arrivals, attracted by mining jobs, are searching for available two- and three-bedroom homes to rent or buy. But with inventory tightening and every company ramping up, the real shortage is just beginning. Locals and newcomers will be competing for the same limited supply. - Global demand, regional supply:****With Okanagan and Lower Mainland prices pushing people east, and now international recruiting in full swing, the Kootenays are the next, and last, frontier for "value." If you're considering buying, upgrading, or investing, realize that smart money and new talent are already moving in. - The commute myth is melting:** As people from cities like Johannesburg, London, and Toronto arrive, our notion of a "long commute" is being rewritten. For them, Cranbrook to Elkford (a little over an hour and a bit away) is a breeze compared to their former commutes. What's "out of reach" for some is about to be "perfectly reasonable" for many more. Between Canada's new critical minerals push and global talent landing in our valley, today's "hidden value" in Elk Valley housing is about to be as obvious as the mountain views everyone is coming for. Wait too long, and you'll be competing not just with the province, but with buyers from around the world.  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=89450438-1d67-4976-8eb1-d47fd9ece3b5&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

looking. Let’s say someone’s waiting for rates to fall by another 0.25%. Sounds smart, right? A small drop could mean lower payments, less interest, a “better deal.” But in reality, the math rarely works that way. While they’re waiting for that perfect rate, the market keeps moving. Homes are selling. Prices are creeping up. Inventory is tightening. And by the time rates dip, that same house they loved at $600,000 might be $625,000 which completely wipes out the savings from that tiny rate change. In other words, waiting for the rate to move a fraction of a percent often costs *tens of thousands* more in the price of the home. --- ### A Smarter Way to Think About It** Instead of trying to time the market, think long-term strategy.**I work with lenders who offer *much lower penalties for refinancing*, meaning you can lock in the right home now**, and if rates drop later,**you can refinance and grab the better rate** without paying a small fortune to switch. It’s the best of both worlds:**✅ Secure the home you actually want, while ✅ Keeping flexibility to improve your rate later. --- ### What Matters More Than a Quarter-Point Rate** - **The right home**, one that fits your needs, budget, and lifestyle. - **A flexible mortgage strategy**, with fair penalties if you refinance. - **Your total picture**, because homeownership isn’t just about the rate; it’s about long-term value. --- If you’re trying to time the market, you’re competing against economists who can’t even agree on what’ll happen next week. Instead, focus on what you can control, your goals, your budget, and the opportunities that exist *right now.* --- ### **Want to know what I think?** If you find the right house, don’t let a 0.25% rate change stand between you and building equity sooner. Rates move, but so do prices, and history shows prices usually move faster. With the right lender setup, you don’t have to wait for the market to be perfect. You just have to start. --- **Want to see how that looks in real numbers?** Let’s run a quick comparison: waiting vs. buying now, and what a future refinance could save you. No pressure, just clarity. *-Andrew*  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=56b9b9eb-5c32-4beb-bb9c-960e8f584d31&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

st before the massive increase we saw three years ago. But here’s the thing: this time, it’s even better. - **Rates are back.** That long-term 4.45% prime? You’re in the same position as buyers who moved before the big surge. - **Home prices have dropped.** You’re not just getting 2022 financing, you’re getting a discount on the property itself **AKA** *the great housing price correction of 2025*. - **You get to do what everyone *****wishes***** they did.** For years, it’s been, “I wish I’d bought before rates went up.” Now you can, and for less. Seriously. #### Seriously. What are you waiting for now? **Interest rates **like before it went crazy?** **✅**House Prices **like before they went crazy?** **✅ These conditions won’t last. Home prices usually adjust *quickly* when rates change. By the time the Bank of Canada reassesses, the best deals will be gone. I know, we all would have like to have bought Apple Stock when you could get it for $20/share or Bitcoin when it was $100/coin… it’ll never be those prices again. The conditions that created those opportunities then are no longer present. So waiting for house prices to get back to what they were priced at in the early 2000s isn’t going to happen either. There’s more people, there’s inflation, there’s an aging population that is remaining in their homes, wealth accumulation buyers… institutional buyers… and so on. And you have to remember, many people who bought at the top, can only discount so much before they simply have to hold the property and change their life plans. Maybe it becomes a rental property? Maybe they remain in the home for now and keep paying down their mortgage and rate for prices to go up. So, with all that said, this is your chance to turn back the clock. For the first time since rates jumped in 2022, you can get a pre-surge rate and a heavily discounted deal on a home before prices climb again. **So act with quiet confidence:** - Lock your rate while it lasts. - Make your offer while homes are undervalued. - Remember, the money you save today on price will almost certainly outpace any small future rate shift. This is the window people have been waiting for. Turn back the clock, move forward with purpose, and let today’s conditions put you *ahead*. **The time everyone wishes for is right now. Let’s go.**  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=c8acd63d-de83-441a-9d22-d3f3708e1b49&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

Buying a duplex or 4-plex isn’t just about earning extra income (although renting out a unit sure helps keep the cash flow steady). It’s about building a flexible foundation for the people you care about most, now and in the years to come. **A Safety Net for Every Generation** - ***Helping aging parents?*** Imagine offering them their own private, comfortable space, close by, but still independent. You’re ready for what life throws at you. - ***Giving your kids a real start?*** Maybe your child is just starting out, landing a first job, saving up, or your sibling wants to try out a new career. That extra unit means an affordable home base that can launch them confidently. --- Now **when most people think about buying “a rental property,”** it usually sounds a bit bougie, almost like you need to show up with a top hat and a Moneybags nickname. But that’s not what we’re talking about here. Because when you owner-occupy a duplex or 4-plex, you’re still buying a home first and foremost. You get to qualify as if you were buying any regular house, with all the familiar benefits and protections. The play here is that you also unlock the upside of “commercial income”, extra rental flow from those additional units, without the hoops and hurdles that come with actual commercial lending. Mostly. There might still be the odd little thing, but that’s what I’m here for, I’ll make sure you get what you need without the added stress. It’s a homeowner’s play with a built-in bonus, both practical and accessible. **Generational Wealth Is More Than Dollars, It’s a Team Play** Here’s where it starts getting really clever, when you pool resources, unlock some rental income, and operate as a family team, new possibilities emerge. Maybe for the first time, adding up everyone’s contributions means that dream of a summer boat on Koocanusa goes from “someday” to “let’s pick a weekend!” Suddenly, it’s not just about financial security, it’s about opening the door to shared memories. Cookouts at the lake, new adventures on the water, and space for everyone to gather, these are the kind of opportunities real generational wealth provides. **Wanna be Kootenay Rich? Keep your family close and your opportunities open. ** Basement Suites, Duplexes and 4-plexes aren’t just a financial move, they’re a way to plant roots, support each other, and unlock the kind of experiences your family will talk about for years. From comfort and flexibility to big summer memories, that’s wealth you can actually enjoy together. Oh, and you insulate yourself significantly from all this economical turmoil…. Winning move right here. Curious how this could fit your family’s story (and future)? Let’s talk, no pressure, just possibilities.  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=5b4a00bb-7a5d-4f80-b87e-798ced43c284&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

minutes south. **Wasa Lake**, the warmest lake in the Kootenays? Under forty minutes north. **Jimsmith Lake**? Ten minutes from downtown. **Wardner** and **Koocanusa**? Twenty. Even St. Mary’s Lake, tucked deep in the Purcells with views that make you forget the day, is only about forty minutes away. Now compare that to West Kelowna, where “lakefront” means sitting in traffic on the bridge for half an hour. The average commute there is nearly twenty minutes on a good day. Around Cranbrook, lake life actually fits your daily life. **Stop Waiting for Later!****I hear it all the time: “After the kids move out, we’ll get the lake house.” “Once school’s done, we’ll buy the place we really want.” But if you wait, your kids won’t come back to a home they never knew… Build the Bond While They’re Still Home! **Buy the lake place now and you’re not just buying property. You’re buying memories. The dock jumps at Moyie, the early morning fishing at Munroe, the fires at sunset on Koocanusa, those moments anchor your family to that home for life. A vacation home becomes a second home when your kids grow up with it. It’s not “Mom and Dad’s retirement place.” It’s their place too. The one they bring their friends, their kids, and their stories back to. **And school isn’t a hassle, that’s what the bus Is for. Again, formative memories **🤣**Cranbrook’s layout makes lake living practical. Moyie is twenty kilometres from town. Jimsmith is ten minutes. Even if the kids take the bus, they’ll get to school faster than most city kids. Meanwhile, in Kelowna or Vancouver, “close to work” often means thirty minutes of traffic and frustration. In the Kootenays, it means peace, space, and water you can actually swim in, without giving up convenience. Don’t Wait to Buy the Home You Love****The old advice says wait until retirement. The smart move is to start living now. Let your kids fall in love with the lake while they’re still home. Those memories will bring them back long after they leave. And with lakefront properties around Cranbrook ranging from the low $400,000s to under a million, you’re getting far more value than in Kelowna, where “waterfront” starts around $1.2 million and climbs fast. You can live on the lake near Cranbrook and still have a shorter commute than someone in Kelowna. So stop waiting. Buy the home you love. Let your kids grow up on the water. And if anyone asks how long the drive to school is? Well, that’s what the bus is for. Have a great weekend all, *-Andrew***  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=c411f74e-579e-4d3d-b90f-a3ad631e80d4&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

always waiting, but what if I told you there's a way that you can hold the cards and protect your interests in a no-lose situation? I've been watching clients sit on the sidelines for months, all eyes on October 29th when the Bank of Canada makes their next rate decision. Markets are split 55/45 on whether we'll see another 0.25% cut. But here's what's driving me crazy: **while everyone's playing the guessing game, they're missing the strategy that eliminates the need to guess at all.** ## The Rate Hold Reality Check Most people think locking in a rate means you're stuck with it. **That's completely wrong.** When you lock in a mortgage rate today, you get **90-120 days of free protection**. But here's the thing… **if rates drop after you've locked in, you can still get the lower rate.** This "float down" isn't some secret broker trick, it's standard practice. Your broker monitors rates and automatically secures better ones if they become available, right up until closing. ## Three Ways This Plays Out **Scenario 1: October 29th brings a rate cut** - Your broker gets you the new lower rate - You win **Scenario 2: Bank of Canada holds steady** - You're protected at today's rate - You didn't lose time waiting **Scenario 3: Rates surprise everyone and go up** - You're locked in at the lower rate you secured - You saved money by acting early **You literally cannot lose.** ## What If My 120-Day Hold Expires? The question I get asked most: "What if I still haven't found a house?" Simple: **You get a new rate hold at current rates.** But think about it, you've just spent 120 days actively house hunting with protection, versus 120 days sitting on the sidelines hoping. You're **120 days closer** to finding your home with **120 days more market knowledge**. Plus, clients shopping with pre-approval and rate protection tend to find homes faster. There's something about that security that makes you a more confident, decisive buyer. ## Why This Beats Waiting While you're waiting for crystal ball clarity on October 29th, you're missing: - **Prime fall inventory** before winter - **Less competition** from other buyers also waiting - **Negotiating power** with sellers who know you're ready Just like those retirees from Vancouver I mentioned last time, they're not waiting for Bank of Canada signals. They're getting pre-approved now and moving when they find the right property. ## Your Move Connor McDavid didn't wait for the "perfect" contract situation, he secured his contract while keeping his options open. Your mortgage strategy should work the same way. **Here's what smart buyers are doing:** - **Lock in your rate today** - Free 120-day protection - **Start house hunting immediately** - Protected rate gives you confidence - **Let your broker monitor October 29th** - They'll get you any improvements automatically Stop trying to time the Bank of Canada. Lock in your rate, start your search, and let the market work for you instead of against you. **Ready to stop waiting and start winning?**  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=74a1cd83-2df4-4004-950c-748a06956537&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

rising for some property types), and everywhere you look, another retirement project is breaking ground. Take [the new 150 bed expansion at the Green Home](https://engageih.ca/fwg-replacement?utm_source=playbook.myplacemortgages.com&utm_medium=newsletter&utm_campaign=the-myplace-playbook-033) by St Mary’s School for example. But if you think all these new 55+ homes mean single family houses are about to flood the market, you’re missing the real signal. What these projects actually show is Cranbrook’s growing reputation as one of BC’s best place to retire, for people who want real space and real seasons. But here’s the thing, retirees aren’t just downsizing into high-density apartments. More often, the folks leaving the Lower Mainland or Calgary are skipping the “retirement box” for the slice of Cranbrook life that you’ve always wanted. They’re chasing the same features as you. The retiree swapping out a Vancouver condo wants what you want, privacy, a yard, a place for hobbies, and space for family. Everything that makes a house in Cranbrook great for raising kids is exactly what’s now attracting motivated buyers chasing their dream retirement. **A Massive Shop** - **For families**: The place to build a truck, tinker with bikes, hang hockey gear, and sharing weekend projects. - **For retirees**: Finally, a woodshop, room for every hobby, and a buffer zone from the neighbour’s lawn mower. **A Big Yard** - **Family**: Bonfires, soccer, birthday parties, snowman competitions, and a safe haven for pets. - **Retiree**: Bird feeders, flowers, tomatoes that actually grow, space for quiet or for grandkids on the weekends. **A Rental Suite** - **Family**: Somewhere for parents to stay close, college kids to land between moves, or a spot to help with the mortgage. - **Retiree**: Rent to a College of the Rockies student, pad the retirement budget, let family visit for longer than just a weekend. **An Expansive Kitchen** - **Family**: Holiday chaos, weekday breakfasts, and a big enough island for homework and snacks. - **Retiree**: Dinner parties, fresh-baked bread, and space to cook for a crowd or just one. **RV or Boat Parking, Pool, Covered Deck, Walkability , you get it.****There’s demand for every feature, and the competition for homes with them is tougher, and less “local”, than ever. --- Here’s where timing comes in. You’re watching the market, waiting for the best deal, hoping for the perfect moment before prices creep back up or inventory dries up. But keep in mind, those retirees aren’t just timing their purchase around price, they’re watching for the first chance to lock in the dream retirement home they’ve spent years imagining. You might be trying to time the bottom; they’re trying to time how far they can stretch their retirement funds as they grab a piece of Cranbrook before someone else does. Same features, same homes, two totally different motivations, but only one gets the keys. So if you want that backyard for playing catch, that shop for building projects, or that suite for a parent or rental income, don’t assume it’s yours just because you live here. You’re sharing the wish list with folks who are just as eager, and very ready to move. They say hindsight is 20/20 and looking back everyone will often say “I knew it was the bottom…” and in that sense everyone can perfectly time the market, but only one** buyer can move fast enough to capitalize on it. Bottom or not, the pool of buyers is growing from an ever expanding area. Just look at the [GM closure of the Oshawa Factory](https://www.cbc.ca/news/canada/toronto/impending-gm-oshawa-cuts-unemployment-1.7640394?utm_source=playbook.myplacemortgages.com&utm_medium=newsletter&utm_campaign=the-myplace-playbook-033), thousands of workers, many of whom were nearly at retirement age anyways, are expected to receive early buyouts and pensions… for many of them, they’re planning to leave the GTA. Think that’s too far to consider Cranbrook? Ask my neighbour from New Brunswick if they feel it’s too far… Fire me a text and let’s set up a plan to get you ready to move fast when you find the right home. Have a great weekend all, *-Andrew*  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=90f68983-c351-4022-a1c2-b832a02c0403&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

es are down.** Isn’t this what you’ve been hoping for? For years, I’ve listened to buyers say, “I’m waiting for the *perfect* market,” where everything falls into place, better prices, more choices, less competition, lower rates.**Well, here it is. And suddenly, some folks are still on the sidelines, telling themselves there’s more to come. Until… there isn’t. Things change fast. Interest rates just dropped for the first time in a while and we’re already seeing competition increase out east, brokers are starting to report mini bidding wars** again. That’s usually a sign the tide’s about to turn here. So, ask yourself: *Do you really want to stay in your current situation for the next 6 months, 1 year, 3 years?* **Loss aversion** is real, and I get it, you want to feel like you timed the market perfectly and snagged the very best deal. But there’s so much more on the line than just the listing price. Right now, you can buy what you want, without getting caught up in a race or settling for what’s left. What happens if you wait and suddenly you’re back to competing for homes? There’s no crystal ball, but the facts look good for buyers today. I’d much rather see you make a move based on evidence and opportunity, than miss out waiting on a hunch. > If you could go back and show yourself in 2022 what today’s market looks like, with tons of inventory, lower prices, less competition, and interest rates finally down, what do you think 2022 you would say to you now? If you’re even slightly curious about what’s out there, or want to talk through the numbers and your goals, hit reply. I’m always here to help you see the big picture, and make your move with confidence. Happy PSL Season, -*Andrew*  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=2c6933a6-60e4-48a4-a760-35275d454008&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

ket heating back up. We saw **Kelowna move through a slumbering market last winter, only to wake up through the spring and summer.** If history is any guide, I suspect the Kootenay market is about to follow suit; we usually trail what happens out west by a few months. **What’s Changed?** - **Yesterday, the Bank of Canada lowered its key rate to 2.5%.** For homebuyers, that means more affordable mortgage payments and a bit more breathing room in your budget. - Lenders are already offering sharper rates, especially on variable and some fixed-term products. That drop might sound small, but for many, it’s the difference between “hoping” and “having.” - September and October are traditionally two of the best months to buy: more homes on the market, less competition (for now), and the chance to get settled before winter sets in. **A Word of Caution:****I’ve heard from a few folks who plan to “wait and see” if prices drop further. It’s a common instinct, no one wants to miss a better deal. But let’s talk about what could happen if you do sit it out ’til spring: - If more buyers jump in now (thanks to lower rates), competition could heat up quickly.** We’ve already seen this in Kelowna, by the time the headlines caught up, prices were already rising and there were multiple offers on great homes. - **Spring is almost always the busiest, most competitive time in real estate.** If you’re betting on lower prices but demand rockets up, even a modest price dip might be outpaced by **bidding wars** and **lost negotiating leverage**. - On the flip side, moving now while things are quieter, means you have more choices, less pressure, and a real shot at snagging a deal before the crowd shows up. **So:** - Wait, and maybe you win a slight price drop…but risk much tougher competition. - Move now, and you could win both a lower rate—and your pick of homes, with time to get settled before winter. **What are your thoughts? **Are you ready to jump in, or are you tempted to hold off and roll the dice on spring? **Hit reply and let me know where your head’s at.** Whether you’re feeling optimistic, a bit nervous, or just want to chat about what this all means for **you**, I’m always here for a candid conversation and some good advice, no stress, no pressure.  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=322b4195-a078-4504-b575-a0e0e1338e60&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

t’s a little getaway, it’s also a working holiday. So please feel free to call or text. I may just need a bit longer to reply than normal. **A question I am asked daily, a seemingly relentless question at top of mind for everyone. Even here, coffee in hand, my thoughts wander back home to what so many of you are wrestling with: *Is now the time to buy, or is it smarter to wait and hope for lower rates or cheaper prices?* --- ### What’s Really Happening Right Now - Prices:** Forecasts from banks and housing agencies suggest prices may soften a bit through late 2025 into 2026, especially in BC and Ontario. But we’re talking modest shifts, not dramatic drops. - **Rates:** Mortgage rates aren’t expected to plunge. Bond markets and the Bank of Canada have everyone guessing, but the consensus is that declines will be slow and uneven. - **Supply:** More listings are hitting the market, giving buyers a bit more choice than in the frenzy years. On paper, it might look tempting to sit tight, wait another six months, and hope the perfect deal falls into your lap. But let’s look at the trade-offs. --- ### The Cost of Waiting - **Monthly payments may not budge much:** Even if prices dip a little, if bond yields rise and rates hold steady, your payment might look almost identical to today’s. - **Inventory moves fast:** The home that checks your boxes today may not be around if you’re waiting for “just a bit lower.” - **Life doesn’t pause:** Family needs, job changes, or even just the desire for stability don’t align with the bond market’s calendar. --- ### So, Buy or Wait? The honest answer is, it depends on your situation. If you’re stretching to the absolute max, waiting may give you breathing room. But if the math already works for your budget and you’ve found a home that fits your life, waiting could cost you more in missed opportunity than you save on paper. --- ### Here’s Where I Come In Think of me as your safety net in the middle of all this noise. I can help you: - Lock in a rate hold today, so you’re protected if rates move up. - Review your renewal early, so you’re not left scrambling. - Run the numbers for different “what if” scenarios, so you feel confident in your decision. Whether you’re three years into your mortgage, three months from renewal, or three weeks away from buying, let’s make sure you’re not stuck on the sidelines when the right place comes along. --- Markets shift, bond yields jump, and headlines change every week. What doesn’t change is the value of being prepared. Let’s get your pre-approval or renewal review in motion today, you’ll thank yourself tomorrow. Now if you’ll excuse me, there’s brunch spread calling my name. Have a good week all, ***-Andrew***  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=a1bc8970-5e73-45f4-9456-e73f41fb1256&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

rtgage terms and rate talk can feel like a blur. One week it seems like *everything* is moving the numbers (inflation, jobs, elections, oil prices), and the next week *nothing* makes sense at all. You’re not alone if you’ve wondered, *“How on earth do they actually decide these rates?”.* One of the biggest players hiding in the background is the bond market. Think of it like a giant scoreboard where investors are constantly betting on the economy’s future. If they believe things are slowing down, they’ll settle for lower returns, bond yields drop, and that usually drags fixed mortgage rates down too. If they expect more growth or sticky inflation, they want higher returns, bond yields rise, and lenders quickly bump up rates to match. So the next time you hear “bond market” in the news, picture it as the invisible tug-of-war behind your mortgage payment. Here’s how it plays out depending on where you stand: --- ### 1. Existing Mortgage Holders with Fixed Rates** - **Good news:** Your payment doesn’t change until your renewal date. - **Why it matters anyway:** When your term ends, your renewal rate is built off where bond yields are sitting at that time. If yields rise between now and then, you could face higher payments than you’re used to. - **Takeaway:** Even if you’re comfortable now, the bond market is quietly shaping your *future* rate. Looking six months ahead of renewal gives you options instead of surprises. --- ### 2. Existing Mortgage Holders with **Variable Rates** - **The connection:** Variables move with the Bank of Canada’s overnight rate, not bonds. But bond yields set the tone for what the market *expects* the Bank to do next. - **Why it matters:** If bond traders believe more cuts are coming, yields drop, and relief may be on the way for variable borrowers. If they think the Bank is done cutting, rates may stay higher for longer. - **Takeaway:** You’re riding the BoC wave, but the bond market often spots the wave forming before the rest of us. --- ### 3. Planning to Get a Mortgage in the **Next 3 Months** - **Here’s where it bites:** Fixed-rate offers can change overnight if bond yields swing, even when the Bank of Canada hasn’t touched its rate. - **Why it matters:** You could be pre-approved at one rate today, and by next week that same mortgage might cost you more. Or drop lower if yields cool. - **Takeaway:** If you’re shopping, rate holds are your safety net. Lock something in now, and if things settle down later, you can always choose the better deal. I know bond rate chatter can feel like it’s happening in some far-off world, but it has a very real pull on your mortgage. Think of me as your safety net in all this, I can help you secure a rate hold that works for you while you figure out the next steps. Whether you’re three years into your mortgage, three months from renewal, or three weeks away from buying, a pre-approval or renewal evaluation today gives you peace of mind tomorrow. Let’s lock in your options before the market makes its next move. Have a good weekend everyone, ***-Andrew***  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=3c72010a-1344-4759-a99b-cc3299cd6d9b&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

day and it used to be perfect, winters down south, a bit of rental income to offset the costs… but lately it’s just not adding up. Fees are up, rental demand’s down, and I barely get down there anymore. Any ideas? — *Wishing for Sunshine, Not Paperwork* --- Ah yes, the pre-COVID snowbird dream: a place in Palm Springs or a beachy condo in Tulum, paying for itself while you soaked up the sun. Back then, it made total sense. For many though, the math has changed, **might say the math just isn’t *mathing* anymore. --- ### Then vs. Now - HOA fees and property insurance in parts of the U.S. have spiked. - Mexico’s rental market isn’t what it used to be. - Local rules are changing fast, and they’re not exactly written with Canadians in mind. - And let’s be honest: you’re probably not using it nearly as much as you thought you would. Sound familiar? --- ### Let’s Bring It Home Selling your foreign property might sound like a hassle, but it can actually be the smartest move you make this year, and here’s why: #### 1. Repatriating the equity brings stability You can turn that place you barely use into **capital** here at home. And if you bought in USD, the exchange rate might surprise you, in a good way. #### 2. It opens the door to smarter real estate moves in Canada - Pay down your current mortgage - Buy a new place with a legal suite and reliable rental income - Downsize to something that fits your life now, not the 2016 version of you You’d be shocked how far U.S. sale proceeds can go in the right Canadian market. --- ### [ Bonus!! ] You Insulate Yourself Foreign governments aren’t building policy to protect your retirement. If anything, they’re looking for ways to tighten rules and boost revenue. HOA surprises, tax policy changes, and withheld income are becoming common stories. Reinvesting at home lets you build on Canadian terms, with lenders, rules, and protections you understand, not ones you're Googling with the Wi-Fi cutting out. --- ### From Desert Oasis to Canadian Game plan If you’ve got a place collecting dust (and bills), there’s a way out that doesn’t involve guilt or guesswork. With the right tax help and a little mortgage planning, that foreign property can be your ticket to something more secure, and more useful, right here at home. --- 👉 *Want to run the numbers? Let’s chat. Whether it’s Palm Springs, Tulum, or Phoenix, there’s a smart way to bring it home.*  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=911a3339-a347-4b54-9a8c-2c120070f125&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

today: --- ### 1) Home prices are easing—what that unlocks for you A softer market changes the math in your favour. It can mean: - **Trade-up opportunities** look better when price gaps shrink. - **Renovation plans** get more realistic (contractors calm down when bidding wars aren’t the headline). - **Appraisals** can still support your goals if we structure things smartly—timing and comps matter. **Net:** You get more room to make a *better* move, not just a bigger one. --- ### 2) Inflation is cooling—why that’s good for your financing When inflation backs off, the pressure for rate hikes fades, and the conversation shifts toward easing. - **Variable + HELOC holders:** relief risk is moving the right way. - **Renewals in the next 6–18 months:** stability gives us a window to plan, not panic. - **Fixed shoppers:** calmer markets often bring quieter price improvements on products and terms. **Net:** Planning beats guessing. We can map scenarios now and be ready to act. --- ### 3) Lenders compete quietly in steady markets—how that helps you When rates aren’t jumping around, lenders focus on the “small hinges” that swing big doors: - **Longer rate holds** (more breathing room to decide) - **Friendlier prepayment options** (pay down faster without drama) - **Occasional cashback** (helpful for renos or moving costs) - **Faster, cleaner approvals** (less noise, fewer hoops) **Net:** The “best deal” isn’t just the sticker rate. It’s the whole package—and that’s where I go to work for you. --- ### Worth a call? Heck yeah. If you: - renew within **6–18 months**, - carry **higher-interest balances** you’d like to simplify, or - are debating **renovate vs. relocate**, then a 10-minute check-in is genuinely useful. I’ll keep it simple: where you are, what you want, and the smartest path from A → B in this market. Reply with your **current rate, payment, and renewal date**, and I’ll take it from there. --- Lastly, I fired up the good old random win-o-bot for those who entered last week’s survey. ``` $50 Hotshots Card Winner... >> Janae Y! ``` ** -*Andrew*** *Myplace Mortgages* P.S. Janae, I’ll send you an email and co-ordinate the delivery of that card.  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=14caad80-f209-4478-9294-d3ec752f1939&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

tes aren’t climbing or falling, lenders shift from competing on rate alone to competing in other ways, ways that might not be obvious unless you're watching closely. Here’s what I mean: - **Longer rate holds** – Giving you time to shop with confidence. - **Cashback offers** – Some lenders are offering upfront incentives to help with moving costs or renovations. - **More flexible prepayment terms** – Helpful if you plan to pay down aggressively. - **Niche programs** – Self-employed options, new-to-Canada offerings, and more lenient conditions are quietly making a comeback. - **Faster processing** – With less chaos in the market, some lenders are speeding things up behind the scenes. These details don’t always show up on the rate sheet, but they absolutely matter when you're deciding who to go with. --- ### ☕ Win a $50 Hot Shots Coffee Card I’ve put together a super quick poll to help me learn what you’re focused on right now when it comes to real estate and mortgages.**And to make it fun, I’ll send a $50 Hot Shots gift card** to one lucky person who fills it out this week. [ Take 1 Minute Survey - Enter to win $50! ](https://playbook.myplacemortgages.com/forms/0512743b-988c-46b7-be04-2b663c2674cc?utm_source=playbook.myplacemortgages.com&utm_medium=newsletter&utm_campaign=the-myplace-playbook-026) --- ### Here’s what I’d love to know: - Are you house-hunting, refinancing, or just mortgage-curious? - What features matter most to you in a mortgage? - Are you planning to buy soon, or just keeping an eye on the market? - What would you love to understand better about the mortgage process? Should take you less than a minute, but the insight helps me tailor what I share, and hopefully makes your inbox (and mortgage) more useful. Let me know if you have questions in the meantime, I’m always happy to chat through the details.  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=a9bf53cf-3b54-47a0-9949-0d879a1fc1cf&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

it’s not the high-anxiety market of 2023 either. In other words: it’s a good time to get strategic. So you hit [Realtor.ca](http://Realtor.ca?utm_source=playbook.myplacemortgages.com&utm_medium=newsletter&utm_campaign=the-myplace-playbook-025) and the search is on. As I know many of you have, *because I do it too*, you’ve probably spent more hours than you’d like to admit fiddling with filters and keywords on [Realtor.ca](https://Realtor.ca?utm_source=playbook.myplacemortgages.com&utm_medium=newsletter&utm_campaign=the-myplace-playbook-025), trying to dial in just the right search. You start off looking for a modest 3-bed in Cranbrook and next thing you know you’re comparing oceanfront in Labrador to a 400-acre canola farm in Saskatchewan. It happens. While fun, it’s probably not that productive, however your Realtor has seen **a lot** of homes, and asking the right questions during your search can surface features that don’t show up in a search bar but *might just make your home more affordable, more flexible, and more future-proof*. --- ### **1. Is the home solar-ready, or already set up with panels?** A **south-facing roof with a decent angle and good exposure** makes a big difference if you're thinking about solar, whether that means savings now or down the road. Bonus points if the electrical panel is already sized for expansion. --- ### **2. Could this home support a legal suite or rental setup?** Even if it’s not suited yet, look for **separate entrances**, **extra plumbing rough-ins**, and **zoning potential**. But also watch for things that could make it awkward, like shared / ***pass through the kitchen and down the stairs***** **entrances, **no privacy**, or **tight parking**. --- ### **3. What kind of heating/cooling system is in place?** Mini-split heat pumps and modern high-efficiency systems are a major win in Cranbrook’s changing climate. They’ll save you money, and keep you comfy in July *and* January. --- ### **4. Which way does the backyard face?** South-facing yards get more sun, more often, and that means real potential.**With how wet this summer has been, it only takes 30 seconds driving past any of Cranbrook’s community gardens to see how much food you could grow here. We’re also the sunniest (usually)** place in BC, why not make the most of it? --- ### **5. Is the home exterior light or dark?** Light-coloured exteriors and roofs reflect heat, making homes easier to cool in summer. Especially helpful in newer subdivisions where shade trees aren’t doing much (yet). --- ### **6. Is there a garage, workshop, or outbuilding with extra potential?** Detached buildings can evolve, into home offices, gyms, guest space, or even rental units. If it’s powered, insulated, or just has good bones, it’s worth asking about. With rates holding steady, you’ve got some breathing room. And when you pair that with smart house features, you set yourself up for long-term wins, not just a lower payment today, but a more livable, affordable home for years to come. --- There’s only so much a search filter can tell you. These small questions can lead to big wins, whether it’s lowering monthly bills, unlocking rental potential, or just making day-to-day living easier. Your Realtor sees things you might miss, and I can help your mortgage work as hard as your down payment does. If you're looking at homes and wondering what’s *really* worth paying attention to, I’d love to be part of that conversation. Let’s look beyond the basics and find something that fits your life. Enjoy the weekend! *-Andrew*  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=09b0e0fb-090f-4be2-8597-19f14121e516&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

news" announcement, but for homebuyers, it's actually **fantastic news**. Here's why this steady rate environment is sending strong signals that it’s a smart time to explore mortgage options, and why **I’d love to help you make the most of it**: --- ### **1. Stability Means Confidence** Holding rates steady at 2.75% means the Bank of Canada sees a healthy balance: - Inflation is being managed effectively. - The economy is stable enough to keep rates predictable. Lenders love predictability, this gives you the confidence that mortgage rates aren’t about to spike suddenly, letting you shop at your own pace without fear of overnight rate hikes. --- ### **2. Variable Mortgages Feel Safer Again** A steady rate is reassuring news if you're considering variable-rate mortgages: - No immediate jumps in payments expected. - You can lock into stable payments now with confidence. I can help you find a variable mortgage option that's competitive, stable, and tailored to your comfort level, especially if you've been hesitating on the sidelines. --- ### **3. Fixed Rates Become Attractive** Banks tend to offer better fixed rates in stable environments. Why? Because uncertainty costs banks money. Stable rates remove guesswork and may lead to banks offering more competitive fixed-term options. **Pro tip: **This could be your perfect window to secure a lower fixed rate, especially if you crave long-term peace of mind. I’d be happy to show you what’s currently available. --- ### **4. A Great Environment for Strategic Moves** Stable rates make it easier to: - Consolidate debts with predictable borrowing costs. - Consider buying that bigger home you've been eyeing, knowing your budgeting calculations won’t be blindsided by rate jumps. With clarity from stable rates, I can help you model exactly how much home you can afford, without surprises. --- ### **5. Opportunity to Shop Around** When lenders see rates holding steady, competition can heat up: - More incentive for banks to compete for your business. - Great opportunity to compare rates, terms, and features carefully. **I’ll do the shopping for you, comparing products from multiple lenders to ensure you get the best mortgage fit possible. --- The Bank of Canada’s decision to hold steady isn’t just economic jargon, it's practically a neon light flashing: "Now’s a good time to explore your mortgage options."** This market is stable, attractive, and welcoming, especially if you’ve been waiting for the right signals to buy or refinance. Let’s use this clarity to your advantage. Ready to see what’s possible? Reach out, I’d love to chat. ***-Andrew***  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=4f28d0f4-6d63-405c-b646-d1803210a3e1&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

crossed it goes okay). But lately, I’ve noticed something amazing happening with a few of my clients: They're buying homes with a suite for their **parents**. Not because their folks need long-term care, they definitely don’t.**Not because they’re trying to relive childhood days, no thanks. They’re doing it because it just makes sense. Financially, emotionally, practically… all the ways that actually matter. --- ### If your parents have been renting: This is their chance at real stability, no more rent hikes, landlord worries, or wondering if they’ll have to move again next year. Their rent contributes to your family’s future** instead of someone else’s retirement fund. ### If your parents own a home: They’re probably sitting on a nest egg, a home with decades of care poured into it, but maybe it’s too big, too expensive, or too much upkeep now. Selling and moving into your suite frees up equity and gives them a comfortable space that’s just right. --- ### But it’s the little things that really make this arrangement rad: - **Peace of mind when you’re away.****Imagine leaving for work knowing someone you trust is home, noticing the leaking dishwasher *before* it floods your kitchen (and saving you from a fight with insurance). - Someone to tend to the garden.****There’s just something about parents and gardening, they see weeds no one else notices, and somehow turn your garden into a chicken pot pie. For many who work at the mines the last thing they want to do on their off days is tend to the yard. Their parents on the other hand love doing just that. - Easier living for all.****They’re not ready for a long-term care home, and neither are you. They’re your biggest fans, after all, and this setup gives them (and you) the right balance of privacy and closeness, like when family was simpler, and home felt easy. --- The truth is, we spend years building our own lives, sometimes far from the people who built us. This trend of families joining forces under one roof again, comfortably, conveniently, is something I think we can all get behind. If this sounds like something that might work for you, let’s chat. I’d love to help you figure out how to make it work for your family. Talk soon, -*Andrew***  #### Text me, right now! 250-919-5474 I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=af977e2b-cee8-4d4f-943c-1a25581951b5&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

the answer can save you a *ton* of stress (and potentially a ton of money). --- ### 💡 First, let’s clear this up: Pre-approval** is a *great* starting point. It tells you how much you can likely borrow, helps you shop with confidence, and shows sellers you’re serious. But… A pre-approval is based on **your financial situation alone** — your income, debts, credit, etc.**It doesn’t factor in the specific property you’re buying. --- ### 🏠 That’s where the financing condition comes in. When you make an offer on a home, your lender needs to: - Approve *you* (already done!) ✅ - Approve *the property* 🏡 And the property matters more than most people think. Here’s why: - The home’s appraised value** — The lender wants to make sure the price you’re paying matches what the home is actually worth. If the appraisal comes in lower than your offer, they may lend you less. - **Its condition** — Major issues like a damaged roof, foundation cracks, or out-of-date electrical can raise red flags and may require repairs before financing is approved. - **Location or zoning issues** — Homes in remote areas, agricultural zones, or with unusual zoning can complicate financing, especially if resale would be tricky. - **Condo rules or reserve funds** — If you’re buying a condo, the lender will review the building’s financial health and bylaws. A poorly managed building or low reserve fund can impact your approval. - **Marketability (especially in rural or unique areas)** — Lenders ask themselves, “If we had to resell this property, could we?” Homes that are highly customized or located in slow markets may be harder to finance. All of these factors help the lender determine whether they’re comfortable lending on that *specific* home — and under what terms. --- ### 🛑 What happens if you skip the financing condition? If you remove that clause, make an offer, and the lender *doesn’t* approve the home you could be on the hook to complete the purchase without financing. And that can mean: - Losing your deposit - Legal consequences - A huge financial headache So yes, even with a rock-solid pre-approval, **you want that condition in place**, at least until we’ve fully locked everything in. Think of your pre-approval as the green light to start shopping. The financing condition keeps everything safe when it comes times to buy. --- 📲 **Got questions about your own approval?** Let’s walk through it together so you know *exactly* where you stand. 👉 Text me, [ 250-919-5474](http://sms:12509195474?utm_source=playbook.myplacemortgages.com&utm_medium=newsletter&utm_campaign=the-myplace-playbook-022) One call, no pressure, just the clarity you deserve. Talk soon, — Andrew *Myplace Mortgages*  #### Text me, right now! [250-919-5474](http://sms:12509195474?utm_source=playbook.myplacemortgages.com&utm_medium=newsletter&utm_campaign=the-myplace-playbook-022) I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation. Just a simple text that can put you at ease. --- [Powered by beehiiv](https://www.beehiiv.com/?utm_campaign=bbe68379-6aa2-4d75-9fc1-5b38eafe3f52&utm_medium=post_rss&utm_source=the_playbook_by_myplace_mortgages_inc)

It means you may be able to transfer your current mortgage to your next home, rate, terms, and all, without starting from scratch or paying break penalties. You can take your mortgage with you, here’s how to make it smooth. Here’s why it’s a winning move: You’re upgrading to a new home, but want to keep things simple, portability can save you from reapplying for a brand new mortgage. You’re selling and buying in the same window, portability helps you line things up so you’re not stuck in limbo. You’re planning ahead and want a smooth transition, having this conversation early makes all the difference. While it’s easy, timelines matter. Each lender gives you a window (usually 30 to 120 days) where you can port your mortgage from one home to another. So if your purchase and sale are happening close together, this can be a perfect fit. If you’re buying before selling, or your dates don’t match up, we can still make a plan that keeps everything running smoothly. There are even options to bridge the gap. Need some help with numbers? I’ve got a suite of sweet calculators and tools that can help you get an idea of where you stand on my website. Best of all, I’m here to help when you need help! https://myplacemortgages.com/calculator There are some rules you’ll want to follow Every lender has different rules, so the key is to find out early whether this is an option for you, before you accept an offer or make one. That’s where I come in. I’ll: Review your current mortgage details Walk you through what’s possible Help you map out a timeline that works, whether you're selling first, buying first, or doing both at once Let’s make this move the easiest one yet. -Andrew

s and intricacies. In this article, we'll unravel the pivotal role that interest rate holds play in your quest for real estate ownership in today's dynamic market. ### Interest Rate Holds: The Key to Informed Decision-Making In the realm of real estate, securing a property goes beyond location and aesthetics. It hinges on making informed financial decisions that align with your long-term goals. An interest rate hold, often referred to as a rate lock, emerges as a powerful tool to achieve this objective. * **Shelter from Rate Fluctuations** Interest rates are subject to market fluctuations, and even minor shifts can significantly impact your mortgage payments. An interest rate hold allows you to "lock in" a specific rate for a defined period, shielding you from sudden rate increases during that time. This proactive measure offers predictability in an unpredictable market. * **Budgeting with Precision** When you're planning your real estate purchase, having a clear understanding of your future mortgage payments is essential. An interest rate hold empowers you to calculate these payments accurately, giving you the confidence to budget and make sound financial decisions. * **Navigating Competitive Markets** In today's competitive real estate landscape, acting swiftly is often crucial. An interest rate hold provides you with the advantage of time – you can shop for properties, negotiate terms, and finalize your purchase knowing that the locked-in rate shields you from market fluctuations. * **Strategic Decision-Making** Interest rate holds open the door to strategic decision-making. You have the flexibility to explore different property options, consider various mortgage terms, and assess potential renovations, all while knowing that your locked-in rate remains unchanged. * **Partnering with Professionals** Securing an interest rate hold is not a solitary endeavor. Your relationship with a trusted mortgage broker becomes pivotal. A knowledgeable broker can guide you through the process, ensuring that your interest rate hold aligns with your financial objectives. * **A Holistic Approach to Real Estate** Real estate acquisition extends beyond a transaction – it's an investment in your future. An interest rate hold allows you to approach this investment with a holistic view, accounting for financial stability, long-term planning, and the potential for growth. ### Conclusion: Navigating Your Real Estate Odyssey The journey to real estate ownership is a profound and rewarding one. In the midst of a dynamic market, interest rate holds emerge as a strategic tool to empower you with stability, informed decision-making, and the freedom to explore property options without the fear of sudden rate hikes. As you embark on this journey, remember that every choice you make shapes your real estate narrative. A trusted mortgage broker is your partner in making these choices wisely. By securing an interest rate hold, you take charge of your financial destiny, paving the way for a prosperous real estate future.

tgage broker with a keen understanding of the Kootenay area, I'm here to guide you through the intricacies of home construction financing. In this article, we'll dive into the details of two key mortgage options: construction draw financing and completion mortgages. ### Construction Draw Financing: Balancing Control and Costs Construction draw financing is a financing approach that provides homeowners with the flexibility and control to build their dream home from the ground up. Here's a closer look at how this option works: * **Initial Approval:** Before construction begins, you secure a construction draw mortgage from a financial institution, covering the land cost and initial construction plans. This is where your build plans, income and potential down payment are assessed in a full application process. * **Draw Phases:** The funds are released in stages to the builder (draws) based on construction milestones such as land, site development, lock-up, drywall, and completion. * **Inspections and Oversight:** Inspections are performed before each draw to ensure quality and adherence to the plans. This approach requires a more hands-on involvement from you, the homeowner. And likely extra costs and expenses. * **Cost Consideration:** It's important to note that the construction draw route can be costlier and demands a larger savings cushion. You make interest-only payments on the drawn amount during construction, which adds to the overall expenses. ### Completion Mortgage: Streamlined Convenience with Savings Flexibility An alternative option is the completion mortgage, which offers a streamlined approach to home construction and financing: * **Builder Financing:** Here, once we have you approved for the mortgage based on the home plans and personal application, the builder handles both the lot purchase and home construction financing. * **Completion and Purchase:** Once the builder finishes constructing the home, you purchase the completed property with your new mortgage. * **Simplified Process:** The completion mortgage approach involves fewer steps and inspections for the homeowner, providing a smoother journey for both the homeowner and the builder. * **Savings Advantage:** Unlike the construction draw option, completion mortgages require less upfront savings. You secure the mortgage upfront, and leave a deposit with the builder, but you don't start paying the mortgage costs until you move in! ### Selecting the Right Path for You Both construction draw financing and completion mortgages have their merits and considerations. The construction draw route grants you more work and involvement in the construction process but demands a larger savings buffer. On the other hand, the completion mortgage route offers convenience, a simpler process, and a lower initial savings requirement. It's important to assess your comfort level with project management, financial readiness, and desired level of involvement in construction. As a local mortgage broker, I'm well-equipped to guide you in making an informed decision that aligns with your preferences and the specific dynamics of the Kootenay housing market. And can help reccomend builders that make your journey smooth and fun! In conclusion, crafting your dream home in the Kootenay's is a rewarding journey filled with choices. Understanding the distinctions between construction draw financing and completion mortgages empowers you to make a well-informed decision. Whether you seek hands-on control or a smoother process with savings flexibility, the right mortgage solution awaits, enabling you to turn your vision into reality in the captivating landscape of BC, Canada.

tes are just one part of the puzzle when it comes to financing your purchase. Your personal finances, expected purchase price, and down payment also play important roles. So, don't let interest rates scare you away from achieving your homeownership dreams. Instead, let's focus on your overall financial picture and make smart decisions that work for you. You might have heard that interest rates are slightly higher than previously, and that can be a bit intimidating. However, it's important to look at the bigger picture. Interest rates are only one factor in getting a mortgage. It is important to look at extra payment privileges and other features of the new mortgage, like expected penalties should you want to make changes during the term. By looking at all these aspects together, brokers can get a better idea of your financial goals and set you up for the future. Instead of feeling overwhelmed, focus on taking proactive steps to improve your financial profile. Pay your bills on time, reduce your outstanding debts, and maintain a healthy credit utilization ratio to boost your credit score. Saving up for a good down payment can also positively impact your mortgage terms and help offset any effects of higher interest rates. Remember, the decision to buy a home shouldn't be based solely on the current interest rate situation. Think about the long-term benefits of homeownership, like building equity and having a place to call your own. These advantages outweigh any temporary fluctuations in interest rates. So, instead of letting interest rates scare you off, let's approach them with confidence and knowledge. Understand that they are just one piece of the homeownership puzzle. By being proactive, considering your financial situation as a whole, and making informed choices, you'll be well-prepared to embark on your homebuying journey. Now is the perfect time to take the first step. Start the pre-approval process today, knowing that interest rates don't have to be a source of fear. Your dream of owning a home is within reach, and with careful consideration and smart decisions, it can become a reality.

e. Here are a few reasons why it's a good time to list your house for sale: High demand from buyers: The current real estate market is seeing a surge in demand from buyers, which means that there are more people looking for homes than there are homes available. This competition is driving up prices and making it easier for sellers to get top dollar for their homes. Low inventory: As mentioned above, there are more buyers than there are homes available for sale. This low inventory means that your home will stand out in a crowded market, making it easier to attract interested buyers. Favorable mortgage rates: Mortgage rates are still low, which means that buyers are more likely to be able to afford a home purchase. This is good news for sellers, as it means that there are more potential buyers in the market. Spring market: Spring is traditionally a popular time for buying and selling homes, as the weather is warmer and people are more likely to be out and about. Listing your home now will put you in the best position to take advantage of this seasonal uptick in the market. Overall, the current real estate market is a great time for sellers to list their homes for sale. With high demand from buyers, low inventory, favorable mortgage rates, and a seasonal uptick in the market, there's no better time to get top dollar for your home. So if you're considering selling, don't wait – now is the time to take advantage of these favorable conditions and make your move. Give us a call today and we can help set you up with an expert Real Estate agent for a free market analysis.

cases. This is a great opportunity to get a good deal on a home and start building equity. One of the biggest factors that determines how much you can afford to pay for a home is your income. Generally speaking, lenders want to see that your mortgage payments will be no more than 39% of your gross monthly income. This is known as the "debt-to-income ratio." ### Let's look at an example to see how this works in practice. Example: * Entry-level home: $234,900 * Middle-range home: $585,000 * High-end home: $949,000 To qualify for a mortgage on an entry-level home, you would need to have an annual income of at least $65,000. Based on a 4.89% interest rate and a 25-year mortgage, your monthly payments would be about $1,335. In May of 2022 your payment would have been $1263 with a listing price of $270,000. To qualify for a mortgage on a middle-range home, you would need to have an annual income of at least $135,000. Based on a 4.89% interest rate and a 25-year mortgage, your monthly payments would be about $3,300. In may of 2022 your payment would have been $3100 with a listing price of $672,550. To qualify for a mortgage on a high-end home, you would need to have an annual income of at l east $180,000. Based on a 4.89% interest rate and a 25-year mortgage, your monthly payments would be about $5,266. In May of 2022 your payment would have been $3,886 with a listing price of $1,100,00. While the new interest rates are alarming, the drop in housing prices are keeping payments in line with where they were. With a variable rate mortgage you may end up saving money should rates return to lower levels as the total paid for the home is lower. So there you have it, while the media may want to sow fear, now is a great time to buy a home because housing prices have decreased slightly, which means that your monthly mortgage payments will be lower. While you will need to have a certain level of income to qualify for a mortgage, there are options available to help make homeownership a reality for you.