Business happenings
A recent announcement from the Canadian Mortgage and Housing Corporation (CMHC) that premiums will be increasing, effective May 1, has many home buyers questioning how it will affect the affordability of homeownership in the weeks and months to come.
The majority of respondents from BMO芒鈧劉s 2014 first-time homebuyers report indicate that their homebuying timeline has been delayed as a result of housing price increases, said Mohamed Samman, vice-president of credit services at the 91原创-based Envision Financial.
So with that in mind, he shared some thoughts with us on how these latest increases may impact the housing market.
While it has been reported that for the average Canadian home buyer requiring CMHC insured financing, the higher premiums will only result in an increase of approximately $5 to their monthly mortgage payment, he stressed.
But, it芒鈧劉s the culmination of all the changes buyers have faced through the recent year that芒鈧劉s cause for concern, Samman added.
芒鈧揥hen you couple the recent changes to the first-time homebuyers芒鈧劉 grant with the tightening of rules of CMHC, which lowered the maximum loan to value to anything above 80 per cent and decreased the maximum amortization to 25 years, it芒鈧劉s certainly a big blow to new entrants into the market.芒鈧�
芒鈧� More: www.langleyadvance.com, search 芒鈧揈nvision芒鈧�
Welcome to Willoughby
G&F Financial Group is making quite the splash in 91原创 this month.
In addition to opening a new branch in the Willoughby Town Centre this past Tuesday 芒鈧�� the company芒鈧劉s 13th location 芒鈧�� they芒鈧劉ve also made a hefty donation to the future of this community.
Earlier this month, branch manager Kam Mokha presented a $20,000 cheque to the 91原创 Memorial Hospital Foundation. The money is earmarked for the new maternity centre, and specifically resuscitation armoire infant warmer systems, she explained.
芒鈧揂t G&F, we strive to make a positive difference in the lives of others. With a new branch opening in the Willoughby area of 91原创, we are excited to be a part of, and continue to support the 91原创 neighbourhood,芒鈧� Mokha said.
Time to pull on the blue jeans
Today, I芒鈧劉m joining thousands of people across the province who will be wearing jeans to work.
Okay, maybe not the most fitting of business attire, normally. But today, it perfect. It芒鈧劉s Jeans Day, and my $5 contribution 芒鈧�� by buying a button at Save-On-Foods (or you can get them locally at Costco and London Drugs, as well), helps raise money for sick kids.
Jeans Day is held annually in support of BC Children芒鈧劉s Hospital, and the goal this year is to raise more than $1 million through the sale of these buttons, and $20-lapel pins.
Since 1991 Jeans Day has raised more than $16.8 million for BC Children芒鈧劉s Hospital. That芒鈧劉s pretty impressive. How about doing your part, and justifably sport your favourite jeans and button for the kids today?
芒鈧揈very year schools, businesses and communities across B.C. and the Yukon help change the lives of BC芒鈧劉s sick and injured children through Jeans Day,芒鈧� said Teri Nicholas, CEO of the BC Children芒鈧劉s Hospital Foundation. 芒鈧揟his event truly shows what we can achieve when many people make a small contribution.芒鈧�
