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Free Professional Advice

Why choose Micah? Because I provide valuable professional advice and it’s FREE!

Why pay more than needed? Get my rate specials. Let me negotiate the best rate for you and save money.

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Best Rates

Let me shop the major banks and top lenders for you.

Let me negotiate the best rate. Remember I work for you, not the banks.

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Get Approved

My approval rating is high.

With my portfolio of lenders, I can find you a program that works for you.

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Lower rates equals thousands in savings.

Why pay more than needed? Get my rate specials. Let me negotiate the best rate for you and save money.

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When the banks are closed, I am not.

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Blog by Micah Verceles

World's priciest home market pushes millennials beyond the law

August 31st, 2018
Hong Kong’s stratospheric property prices are pushing some residents beyond the law.

A small, but significant, number of younger people are living in industrial buildings, trading comfort and convenience for cheap rent. Along with irritations such as rust-tainted water and intermittent blackouts, there’s one major drawback: Such living arrangements are illegal.

It’s a risk 32-year-old photo ...

Fallout of High Home Prices

August 30th, 2018
Despite slowing price gains in Vancouver and a moderation in Toronto, average home prices are still notoriously expensive.

So how are these prices affecting the lives of residents in these two cities? Thanks to a new comprehensive survey released this week, we finally have some answers:


Bank of Canada governor hints he will raise interest rates even if he doesn't have to

August 27th, 2018
Disruption caused by digital technologies is making the job of central bankers harder.
That was the essence of a speech by Bank of Canada governor Stephen Poloz at this weekend's annual shindig for central bankers in Jackson Hole, Wyo.

In a speech titled "The Fourth Industrial Revolution and Central Banking," the governor hinted at an interest rate hike.

Digital ...

Home Capital, Street Capital & First National's Q2 Review

August 23rd, 2018
The country’s largest broker channel lenders wrapped up their second-quarter earnings, which provided a little more insight into the ongoing effects of this year’s new stress test.

This year’s second-quarter results are thought to be a more accurate year-over-year comparison to gauge the stress test impacts than the first-quarter results, which the lenders say were impacted by a rush of bor ...

'Cube house' on Vancouver's Point Grey Road sold for $7.95 million

August 22nd, 2018
After being listed on the market for over a year, the daringly-bold, so-called ‘cube house’ at the northeast corner of Point Grey Road and Alma Street in Vancouver’s Westside has been sold for $7.95 million, below the final asking price, according to BC Assessment.

This 2016-built, sharp contemporary home at 3691 Point Grey Road – right across from Hastings Mill Park – has drawn some contro ...

Big banks poised for strong quarter amid housing stability, rate hikes

August 20th, 2018
TORONTO -- Canada's biggest banks are expected to report yet another strong quarter as the country's housing market shows signs of stability and rising interest rates add to their bottom line.

Royal Bank of Canada is the first lender to report its fiscal third-quarter results on Wednesday, and most analysts are expecting "solid" growth across the industry, with estimates of earnings-per-sha ...

New Housing Data Shows Strengthening Sales, Rising Prices

August 17th, 2018
New housing data released in two separate reports this week paints a picture of strengthening sales activity across the country, along with moderate price gains in most markets.

The MLS Home Price Index released by the Canadian Real Estate Association was up 2.1% to $634,300 this July from July 2017. This index is a more accurate way than averages to measure price progression among the 15 c ...

Six Months was What it Took to Absorb Latest Mortgage Changes!

August 17th, 2018
Ever since the US 2008 sub-prime mortgage crisis, we’ve seen a never-ending string of change. Mortgage lending rules have become tougher and tighter. Underwriting is stricter and more thorough. (As usual, the government has not missed an opportunity to stick their nose into your business by making lenders ask for more income documentation.)

The rule of change is that it takes around six mon ...

Bank Mortgage Specialists Advertising As Mortgage Brokers

August 17th, 2018
Your best mortgage advice comes from a Mortgage Broker.

From time to time, we do see concerning cases where bank-based mortgage specialists have held themselves out as Mortgage Brokers in their advertising. This tactic is especially troubling, as bank employees owe a duty of loyalty to the bank and not to the borrower. It also erodes the public perception of Mortgage Brokers as purveyors of ...

Is Mandatory Securities Registration Looming For BC MICs & Mortgage Syndicators?

August 16th, 2018
The British Columbia Securities Commission (BCSC) announced a change in policy yesterday that will impact mortgage syndicators and MICs.

BCSC has indicated that they will not be renewing the Exemption from Dealer Registration Requirement for Trades in Securities of Mortgage Investment Entities (BCI 32-517), which provides conditional registration relief in BC for mortgage investment entitie ...

Insurance Premiums May Rise in 2019

August 16th, 2018
OSFI is tightening mortgage lending again. But this time, it’ll be less impactful for consumers.

The banking regulator issued its final Mortgage Insurer Capital Adequacy Test (MICAT) guideline last week. MICAT is the “framework for assessing the capital adequacy of mortgage insurance companies,” OSFI says, and it takes effect January 1, 2019.

According to National Bank Financial (NBF) analy ...

The price-to-income ratio needed to buy a home across Metro Vancouver

August 15th, 2018

There should be no surprise which city in British Columbia ranked dead last in affordability for single-person households.

A new report by Zoocasa, a Toronto-based real estate brokerage firm, found that the City of Vancouver had the worst house price-to-income ratio for single individuals, with a staggering ratio of 32 to acquire an average priced property of $1.229 million on a median incom ...

New Renderings Of Oakridge Centre Show Surreal Architecture

August 15th, 2018

The design of the planned redevelopment of Oakridge Centre is said to draw inspiration from medieval towns like San Gimignano, Italy, and it will become a hilltop town or “micro city” with a skyline of its own.

That is how the proponents of the redevelopment described the project in their recent development application to the City of Vancouver. A rezoning proposal for the project was previou ...

3 Canadian cities make top 10 on global ranking of most livable cities

August 14th, 2018
Three Canadian cities ranked among the top 10 in this year's list of the world's most livable cities, while Melbourne held on to top spot for a seventh year in a row.

Analysts at The Economist's Intelligence Unit released the 2017 edition of their Global Liveability Report, which ranks 140 cities based on their quality of life across five broad categories: stability, healthcare, culture and ...

Is the Housing Market Turning a Corner?

August 13th, 2018
While Vancouver area home sales are still posting year-over-year declines, signs are appearing in the Greater Toronto Area that the worst of the housing correction is now over.

Experts say that likely won’t be enough to stave off a slowdown in national GDP growth, however, which in part will be impacted by the housing market’s weak performance over the first half of the year.

Is the Housing ...

80% of Canadian Boomers Choosing Renos Over Moving

August 9th, 2018
TORONTO - A new study finds that some 80 per cent of Canadian baby boomers plan to stay put in their homes in the next five years as a majority consider their local housing market unaffordable for retirement.

The Leger and Royal LePage survey of 1,000 Canadians aged 54 to 72 suggests that six-in-ten boomers are opting to renovate their current house rather than buy a new home.

That leaves s ...

Real Estate Board of Greater Vancouver's July 2018 Report

August 3rd, 2018
July’s residential housing sales in Metro Vancouver* reached their lowest levels for that month since the year 2000.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,070 in July 2018, a 30.1 per cent decrease from the 2,960 sales recorded in July 2017, and a decrease of 14.6 per cent compared to June 2018 when 2,425 homes so ...

Langley Woman Overpaying Taxes Gets Money Back

August 2nd, 2018
When McLaughlin on Your Side interviewed Lori Sowerby last August, she was fuming over the taxes her late mother had paid on her Walnut Grove home for nearly 20 years.

The home’s property assessment had included a finished basement, which didn’t actually exist. That simple error meant Sowerby’s mom, Joyce, had overpaid thousands of dollars taxes to the Township of Langley and Lori wanted th ...