HOME RATES ABOUT SERVICES VIDEO BLOG CONTACT ME TEAM

My Rates

6 Months 7.85%
1 Year 5.39%
2 Years 5.29%
3 Years 5.05%
4 Years 5.10%
5 Years 4.64%
7 Years 5.89%
10 Years 5.64%
6 Months Open 9.45%
1 Year Open 8.00%
*Rates subject to change and OAC
Terry Becker Mortgage Consultant

Terry Becker

Mortgage Consultant


Phone:
Address:
106-1016 McCallum Road, Victoria, British Columbia, V9B 4C6

BROWSE

PARTNERS

COMPLETE

THE SURVEY

REFER

A FRIEND

As an experienced mortgage professional, it is my job to get you the mortgage you need at the price that you deserve. I work on your behalf and have access to over 25 different lenders. Let's work together to get you the right mortgage! Why not take a minute now to complete my on-line mortgage application to see how much you can qualify for!

In addition to mortgages, I can now offer you Personal Loans, Vehicle Loans or Leases and Home & Auto Insurance!

And for a list of trusted local professionals and tradespeople, click on the “Browse Partners” icon!


BLOG / NEWS Updates

CREA Updates Resale Housing Market Forecast for 2025 and 2026

The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity and average home prices via the Multiple Listing Service (MLS) Systems of Canadian real estate boards and associations and expanded the outlook to include 2026. CREAs latest forecast is little changed from the fall 2024 outlook. The assumption remains that the combination of two and a half years of pent-up demand and lower borrowing costs, together with the usual burst of spring listings will lead to a rebound in market activity across the country in 2025. There was a good preview of what that might look like during the fourth quarter of 2024. In addition to lower mortgage rates, the expectation the Bank of Canada may soon signal that interest rates are about as low as they are likely to go in this easing cycle could spur even more demand from those who have been waiting for the right time to lock in a fixed-rate mortgage. This rebound in demand is expected to play out differently across Canada, with British Columbia and Ontario expected to see bigger rebounds on the sales side owing to how low sales are there currently, together with more plentiful inventories, and less scope for price gains in these already expensive parts of the country. By contrast, increased demand is expected to play out more on the price side in Alberta and Saskatchewan where sales were already near record levels in 2024, inventories are currently near-20-year lows, and prices are still relatively more affordable. Manitoba, Quebec, and the Atlantic provinces are all expected to fall between these extremes, with both more sales and higher prices in 2025. https://www.crea.ca/housing-market-stats/canadian-housing-market-stats/quarterly-forecasts/

Scotia Bank: Canadian Home Sales (December 2024): Housing News Flash

CANADA HOUSING MARKET: YEAR IN REVIEW Canadas national housing market slowed down to close 2024. National sales fell 5.8% (sa m/m) in December. New listings continued to pull back, dropping for the third month in a row by 1.7%. National sales in December of 2024 were 19% higher than the same month in 2023; new listings were 10% higher. Despite Decembers decline, sales in the last quarter of the year were 10% above the previous quarter. The larger decline in sales relative to listings meant the sales-to-new listing ratio, a measure of the markets tightness relative to historical averages and deviations, eased again after relatively steep increases the prior two months. The ratio stood at 56.9% in December, down from Novembers 59.3% and only slightly above the mid-point of the balanced conditions zone (estimated between 44.7% and 66.1%). Months of inventory also signalled easing following the national market moves in December, climbing up to 3.9 from Novembers recent low of 3.6, but still below its long-term average of 5 months of inventory. However, according to CREA, Decembers 3.9 is within the lower range for a balanced market based on one standard deviation, making anything below 3.6 months within buyers territory. The year as a whole recorded 7.3% more sales than in 2023, 11.2% more listings, and 0.9% higher average selling pricethe opposite of the 2023 tally that saw all measures below their prior year average. The only exception is the sales-to-new listings ratio, which continued to ease from its 2021 peak of 77.9%. Sales in 2024 were just -0.1% below their 201019 annual average, while listings were 2.6% above. https://www.scotiabank.com/ca/en/about/economics/economics-publications/post.other-publications.housing.housing-news-flash.january-15--2025.html

MY LENDERS

Scotia Bank TD Bank First National EQ Bank MCAP Merix