YMS Your Mortgage Source


About Alex Kotai

Alex Kotai has worked in the mortgage lending business for many years. His career started at HSBC Bank Canada where he spent most of his time in senior management roles which involved training and managing the sales staff at his branch. After leaving HSBC, Alex decided to open his own mortgage brokerage firm, Your Mortgage Source. Through his company, Alex has access to many lenders across the country with a very expansive list of products.
14 07, 2022

Prime Rate Increases

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The Bank of Canada raised its overnight lending rate yesterday by 1% in what looks like a big effort to try and get ahead of inflation. All of the major banks and lenders in turn followed by increasing their prime rates by 1% as well. For most borrowers on a variable rate mortgage this means

14 06, 2022

Where are Rates headed

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There seems to be lots of uncertainty lately in regards to interest rates and we are getting a lot of questions on where things are headed. Here is a brief summary of both fixed and variable rates to help you make an educated decision based on your own personal situation. First of all, it must

17 05, 2022

April Housing Stats

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The Fraser Valley Real Estate Board issues a monthly statistics paper that gives an overview and dissects real estate activity throughout the Lower Mainland. This includes a summary of MLS activity for the Fraser Valley area in addition to monthly and yearly correlations. A recent analysis of the Fraser Valley market reveals sales have dropped

19 01, 2022

Housing Supply Shortage

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In a recent study done by the Bank of Canada, evidence shows that fewer and fewer first time buyers are entering the market. The Bank of Canada’s study showed that first time home buyers made up 47% of home sales in June 2021, down from 53% in 2015. While there is no single answer

16 12, 2021

Interest Rate Recap

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I hope you are all doing well and everyone is ready for the upcoming holiday season. It has been a challenging year for buyers with a limited supply of housing to buy along with a lot of competing buyers. We are still seeing many pockets of the market across the country where buyers are forced

25 11, 2021

Fraser Valley Real Estate

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Fraser Valley real estate prices continued to rise this fall as the number of buyers continued to outpace the number of sellers. Although the reported 3.9% more sales in October than September, home sales decreased a staggering 18.2% year over year for the month of October. However, the catalyst behind the yearly decrease in listings

28 10, 2021

Home Renovation Questions Answered

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Fall is the perfect time of year to start home projects and renovations. For anyone wanting to increase the value of their home through basic updates or for those seeking to create a unique space specific to their individual needs and taste, renovating a home is an exciting endeavor.  Undertaking these projects, however large or

6 10, 2021

Mortgage Rate Update

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Below is a recap of our latest best mortgage rates. Please note that rates will change depending on situation (purchase vs refinance, amortization, % down, etc). It is best to call our office and run through your situation to get an exact quote on what we can offer you. If you need more information regarding mortgages

7 09, 2021

Home Insurance Rates affecting condos

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Property insurance costs varied widely for the first part of 2021. Insurance rates for condo owners continued to rise with costs for single family homes falling. Year-over-year, home insurance rates for houses were down 12% in BC. There is worry though that the rising costs of material like lumber, the increased demand for renovations

1 08, 2021

CMHC Reverses Tightened Mortgage Rules

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The Canada Mortgage and Housing Corporation (CMHC) provides mortgage insurance to lenders where people want to purchase a home with less than 20% down. Just recently, they reversed their tighter qualifying ratios due to losing a great deal of the mortgage default insurance market share. In the summer of 2020 CMHC decreased the maximum