Big Banks at Risk??

Are Big Banks at Risk? Are Canadian banks really at risk because of the high debt levels many Canadians are carrying? I just read the 3rd quarter bank earnings report (it was either that or watch the French language leaders debate) and was surprised by how little risk the 6 largest banks in Canada are actually taking. I looked at 3 key areas the banks could be at risk, the loan to value of the mortgage portfolio (how much debt vs property value securing the loan), the 90 day default rate, and th...

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Pumpkin home for sale

Fall is a Great Time for Homebuying

Why Fall is a Great Time for Homebuying When winter weather blows in, our impulse could be to hunker down and hide. However, house hunting in autumn can be to your advantage. Here are four reasons why: Better perspective. When it’s gloomy out, you’ll have a stronger idea how interiors look in low light. Also, leafy trees and shrubs can hide flaws around a home’s exterior or downspouts. Bare branches reveal areas in need of repair. Assess the action. In September, most neighbour...

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mother-and-son-leaves

Before You Rake Those Leaves

Before you rake those leaves… Bagging leaves can be back-breaking work — what happens if you leave the leaves till spring? Many good things, as it turns out: Free mulch. Fallen leaves prevent weed growth and retain moisture just like wood mulch. They also protect lawns and gardens from scattered salt when the ice hits. Delicate plants thrive under a mat of wet or frozen leaves, and can easily push through in the spring. Shelter for bees and butterflies. Did you know not all Monarc...

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Keys in Hand

Recovery in Second Quarter

Canadian real estate market continues recovery in second quarter According to the Royal LePage House Price Survey1, during the second quarter of 2019 low interest rates and healthy employment offset the market drag caused by economic uncertainty that kept monthly unit sales volumes below the ten-year average2. As a result, home prices appreciated modestly at the national level. The Royal LePage National House Price Composite, compiled from proprietary property data in 63 of the nation’s la...

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Home Ownership and Mortgages

Home Ownership and Mortgages – Good News, Bad News Stats Canada recently reported that home ownership in Canada has increased from 60% of families in 1999 to 63% in 2016. That’s good news for the Canadian economy and most families, but the bad news is the number of families who have paid off their mortgage has decreased from 46% to 43%. During this study period we saw record low interest rates, so in theory we should have had an advantage paying off our mortgages? I don̵...

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Teaching Kids About Money

Teaching Kids About Money I’m often asked by clients if I can help their children prepare to buy a home? I love doing this because I think it is an area that our school system gets a failing grade. The next question I get is, when should they start learning about finances? I think it should start at a very young age with allowances, savings programs to buy that bike or pair of shoes. It’s a way of thinking not a level of intelligence. If kids learn at an early age that if they want s...

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Working with a Mortgage Broker; just like dating!

Working with a Mortgage Broker; just like dating! Banks are declining more mortgage applications than ever, in fact, the borrower rejection rate from mortgage lenders has gone up by as much as 20% since Canada’s banking regulators imposed the stress test for home buyers. What this means is people need to get their application in front of more than one lender, lenders are human, and just because one person says no, doesn’t mean the next will, just like dating!! Working with a...

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Love It or List It Vancouver ~ Family Home Attachments

Becca & Cory ~ Family Home Attachements A car accident injury leaves Becca & Cory coping with their home’s accessibility issues. Can Jillian fix the function of the space and make it their forever home, or will Todd find them a rancher with a view to inspire a move? To watch our episode of Love It Or List It Vancouver… click the link or icon below!!  http://www.hgtv.ca/shows/love-it-or-list-it-vancouver/full-episodes/season-5/videos/becca-and-cory-1500233795582/

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Mortgage Rate: Not the only thing to consider

Mortgage Rate: Not the only thing to consider   Below are two examples that show why rate is not the only thing to consider when choosing a mortgage lender. $360,000 Scotia Mortgage 1 year into a 5-year term, the clients payout their mortgage and are charged a penalty. • Mortgage penalty the clients were actually charged $9500 • Penalty the clients would have been charged with a different lender $3200 • Difference $6300 $320,000 BMO mortgage 3 years into a 5-year term the clients w...

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Rental Suites Increase Qualifying Income

Rental Suites Increase Qualifying Income In today’s market with stricter mortgage rules, a rental suite can make a huge difference when qualifying for a mortgage and knowing which lenders offer the biggest bang for your buck is even more important. Different lenders allow different amounts of the rental income to be added into your qualifying income. Some lenders only allow 50% of the rental income to be used when qualifying for a mortgage, while others allow 80% and even 100%. If a ...

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Markets Are Stabilizing – House Affordability Isn't

Markets Are Stabilizing – House Affordability Isn’t It looks like most housing markets in Canada are heading towards stability this year, not a crash, and while that’s good news for the economy at large, not everyone will be cheering.  A soft landing is in the cards. Not welcome news for potential home buyers, as affordability will only worsen in the year ahead, writes John Stackhouse, senior VP, office of the CEO of RBC, in an analysis published this month. Although t...

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Royal LePage Canada

Royal LePage Kelowna is proud to be part of the Royal LePage family, helping Canadians from coast to coast! This article was first published on https://royallepagekelowna.com.

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8 Tips the Banks Won't Share with You in 2019

8 Tips the banks won’t share with you in 2019 If you’ve got a mortgage renewing or plan to get a new one this year you probably know that it’s more complicated than it used to be. That said, I have some tips and strategies that can help you get the mortgage you need, tweak the one you have, or help you plan for renewal. To get the best deal, you need options. When you go to your bank, you’re talking to one lender. Their best deal might not be THE BEST DEAL (la...

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Conversation On Cannabis

Conversations About Cannabis ~ BCREA The legalization of cannabis opens up new risks for homeowners and new opportunities for REALTORS® to add value as trusted advisors as consumers make the biggest financial decision of their lives. That’s why BCREA is launching a series of videos called Conversations on Cannabis. From the Lenders: Don’t risk it… Growing cannabis in your home will stigmatize the property which can have very negative effects on the value. From the Le...

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Renewing Your Mortgage

Renewing Your Mortgage According to a recent survey of 2,000 Canadian homeowners, 19% will be renewing mortgages next year, 82% of whom are currently in a fixed rate mortgage. If you are one of these people the prospects aren’t as bleak as you may think!  That’s because those five year fixed terms were locked in on average at 3.65%, and mortgage holders can renew at similar rates today.  What this highlights is the way lenders work and the variation in rates that people get. Fi...

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First Time Buyers

First Home Guide Compliments of Genworth Canada Download [3.41 MB] This article was first published on https://royallepagekelowna.com.

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A Few Of My Favorite Things

A Few Of My Favorite Things ~ Christmas Music My daughter singing…”Have Yourself A Merry Little Christmas” ~ Shanna Aitken ~ https://rebeccaaitken.ca/wp-content/uploads/01-have-yourself-a-merry-little-christmas.mp3 A Few Of My Favorite Things ~ Okanagan (Taken November 30, 2018~Rebecca Aitken) A Few Of My Favorite Things ~ Heidi Hewitt In the studio with Heidi as she shares her talents with us… A Few Of My Favorite Things ~ Christmas Baking ...

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Should I Buy or Wait?

Should I Buy or Wait?   Should I buy now or wait a year as prices are dropping, but interest rates are rising? I hear this question daily, and my usual answer drones on about interest rate projections, supply, and demand for homes blah blah!! So I thought I would run the numbers and see what makes the most sense based on the numbers, not my opinion! Option 1 – If you bought a home for $100,000 and put 5% down and had an interest rate of 3.59% on a 5-year term amortized over 25 y...

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The Aitken Group ~ 6 P’s

The Aitken Group ~ 6 P’s At the Aitken Group, our plan is simple:  ”To be as honest, open and transparent as possible in order to foster an active partnership with our clients that will lead to mutual success.” We know that we cannot reach our goals without first reaching yours!  Want to know our strategy for achieving this??? Here are our 6 P’s… 1.  Professionalism – Rebecca is a licensed professional real estate agent.  This means that she has completed t...

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Kelowna Open Houses - Open House To Do List

Open Houses Tour: 6 Things To Do

Open Houses Tour: 6 Things To Do Looking for open houses in the Kelowna Area – visit www.KelownaOpenHouses.com     Download [37.69 KB]   This article was first published on https://royallepagekelowna.com.

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The Power of Teamwork – Meet The Aitken Group

The Power Of Teamwork ~ Meet The Aitken Group Rebecca Aitken – Licensed Realtor© Rebecca has spent more than 30 years providing outstanding customer service in the Okanagan valley.  It is Rebecca’s daily goal to go above and beyond to help others reach their dreams and in doing so Rebecca believes whole heartedly that she will then achieve all of hers too!  Rebecca re-located to the Kelowna in 1988.  Since then Rebecca pinches herself everyday to live in such an amazing pl...

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Rebecca’s Rustic Okanagan Top 10

 REBECCA’S RUSTIC OKANAGAN TOP 10 Rustic Country Decor I love all things Country!  If it’s wood, funky, chunky and distressed I probably already own it!  It is my preferred decorating style and my home is full of rustic country decor.  I have found some hidden gems in the Okanagan to shop for this type of decor.  I am going to share with you a few of my favourites stores for home decorating!  Let’s call it  “Rebecca’s Rustic Okanagan Top 10”!! Smuggler’s Cove – Salmon ...

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