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Hope you had a great weekend!

It looks like we may see some great upcoming changes to Insured mortgages in Canada!

There are plans to increase the maximum purchase price for insured mortgages (less than 20% down) mortgages from 1 million to 1.25 million which is great new for Markets like Vancouver where prices are hight and in situations where buyers may be able for a to qualify but could be short on downpayment needed for a purchase would have the option to look at an insured mortgage with a higher price point.

As this develops I will be sure to keep to keep you updated.

Bond yields have hit new highs that we have not seen since Feb 2020 and this is certainly going to put pressure on fixed rates to increase shortly, I have heard some lenders will be announcing rate increases overnight or over the coming days unless bond yields go back down shortly.

Given where bond yields are now, I suggest any clients you are currently working with who may not have a pre approval/rate hold currently that they do so ASAP!

Have a great week.


Chad Dreyer
Mortgage Consultant 

FSCO License: M21000565


Well as we all saw nothing much changed with last months Federal election, however the Liberals now have a fresh slate of policies for housing with hopes of sustainability and assisting first time buyers.

Here is a summary of their key housing promises:

Housing Supply

The Liberals plan to build, preserve or repair 1.4 million new homes if the next 4 years, they plan to do so through the following initiatives:

  • Housing accelerator fund
    • Invest $4 billion in a housing accelerator fund to build 100,000 new middle-class homes by 2024/2025
  • $2.7 billion for the National Housing Co-Investment Fund
  • $600 million for office and retail space conversion to housing
  • A temporary ban on foreign ownership
    • Foreign citizens would be barred from purchasing Canadian housing for the next 2 years, unless its proven to be for future employment or immigration within the proceeding 2 years
  • Anti-Flipping Tax
    • Applicable to properties sold within 12 months of purchase 

Mortgage Qualification Policies 

  • Changes to the First-Times Home Buyers Incentive 
    • Under the new plan participants could choose between the previous shared equity arrangement or now opt instead for a loan that is repayable only at time of sale 
  • Increase mortgage insurance eligibility cap to $1.25 million 
    • This is an increase from the current $1 million
  • Reduce CMHC insurance premiums for new buyers by 25%

Financial Assistance 

  • Tax-Free Home Savings Account
    • This allows Canadians under 40 to save up to $40,000 towards their first purchase, the money can withdrawn tax-free with no repayment requirement
  • $1 billion for rent to own projects 
  • Multi-generational home renovations tax credit 
    • Provide a 15% tax credit of up to $50,000 for homeowners who add a secondary unit to their home for the use of immediate or extended family
  • Double the First-Time Buyer Tax Credit from $10,000 from $5,000

There is definitely a lot of work here with everything the Liberals have proposed above and as we know by the time these come to law they could look much different that proposed above.

I will continue to monitor these and update you if any policy changes are announced.

If you have any questions please feel free to reach out!


Chad Dreyer
Mortgage Consultant 

FSCO License: M21000565


These are challenging times for everyone. We will get through it and come out before than before.

I often think of the story of how diamonds look like pieces of coal and then after all the pressure that is applied to them,  they come out as sparkling diamonds.

The planet is healing and restoring itself. We now have blue sky in China and India that has never been seen.

We have cleaner water and for the first time fish can be seen in the Venice Canals.

We now have vaccines with more coming.

At the end of 2020, in December it was report for the 1st time in my lifetime, the OZONE LAYER WAS CLOSED AFTER REACHING A RECORD DANGEROUS SIZE. AMAZING!!

I posted this in April 2020. I think it is a good time to revist and know this is all temporary and better times are coming.




5 Great tips to keep you going strong until then.

1. Maintain a routine. Get up & shower every morning and dress Like you would do if you were going to work. 

2. Have a to do list. You will feel great satisfaction when you accomplish your tasks. Laughing There has never been a better time to tackle those closets, cupboards, garages, that messy drawer that we all have.

3. Get fresh air / go outside if possible. Fresh air really does heal the soul and invigorates us, especially lately with this cold air mass.

4. Schedule fun time in your day. It is okay to binge watch.... or do nothing, or read that great book you have been wanting to. Now is the time to schedule whatever you deem to be fun. Let that inner artist free inside of you and refer back to #1 and get out of your PJS. Lol.

5. Learn to be more mindful. Each day/night write down 10 things you are grateful for. Big or small it doesn't matter, what matters is you do it.


If you follow these simple suggestions, before you know it, you will be feeling happier, more motivated and your place will be looking great!!Cool

I wish you all great health and soon this will be behind us. Together we can do it. 


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