Time to go back to responsibilities... ugh

Just like that, another summer has come to a close. Our team hopes you've had a summer full of laughter, good food, and time outside - all while wearing your sunscreen, right!? As the days become shorter again and we move back into the world of kids on the bus and a daily routine, we thought this would be a good time to touch on how this year has looked thus far for the economy, our clients, and our team.

THE LATEST FROM THE BANK OF CANADA

Most recently, the Bank of Canada made their 6th rate announcement of 2026. For the 6th consecutive time, they've opted to hold the policy rate. With an economy growing at the fastest rate since 2004 and unemployment being the lowest in two years, it was not a surprise to many that the Bank of Canada opted for another 'wait and see' approach. While there is still plenty of tariff talk, upward pressure on inflation, and an ever increasing price on oil, there was still enough of a reason to continue to hit the pause button.

WHAT WE'RE SEEING WITH TODAY'S BUYERS

This year our clients have been busy! With a majority of our business continuing to come from our returning clients, their wonderful friends/family, and spheres of influence, we'd like to say thank you. Every purchase, refinance, and mortgage renewal allows us the opportunity to directly support members of our community with their financial goals. We don't take any of that for granted. 

For folks who are thinking of entering the market, we understand that right now, it can feel like things are more expensive than they should be - and this isn't limited to the housing market! That being said, this year, 38% of our clients have been first time home buyers. But, more importantly, two thirds of these first time home buyers had some sort of help. Whether help was provided financially with a gifted down payment or through a parent co-signing, this is a huge piece to note. What we'd like to highlight here is how important it is to have a plan in place ahead of starting your home search. Having a co-signer organized prior to shopping for a home, or an idea of what your down payment needs to look like is a key part of the pre-approval process and makes for a much more enjoyable experience.

PLANNING TO BUY? START HERE

Now that we're on the topic of the pre-approval process, if you're looking to make a purchase happen in 2026 (or beyond), please reach out so that we can discuss your goals and strategy. We will help guide you through the application and documentation process so you as a borrower can be pre-approved. This way, you can shop confidently with your REALTOR® as you look for the perfect place to call home. If you've already been through the pre-approval process with us (yay!), reach back out and let's make sure everything is as up to date as possible. We can even provide you with a fresh financing letter!

(Pictured left to right is: Lindsay, Pauline, Adam, and Sam at a team BBQ)

As for our team, everyone has managed to find some time to enjoy the spring/summer with friends and family. Adam and Michelle enjoyed their first overseas child-free vacation and spent 10 glorious days exploring Italy! Lindsay and Reid finally got to go on their honeymoon - exploring the south of France and Italy. Sam and Ben became first time home owners and have been feverishly renovating their home. Pauline and Will spent a week on Hornby Island biking, beachcombing, and paddleboarding with their young daughter Maeve. And, Leanne and Bob rocked out to Blue Rodeo at the new concert venue in Parksville after Leanne hopped over to Salt Spring Island for some time with her sisters! All and all, not too shabby of a summer for our #Flawlessfam.

Thank you again for all your support during the year. We're looking forward to bringing the last handful of months together for 2026 and supporting our clients and partners through every step. 

And if someone you know could use a little mortgage guidance, please don’t keep us a secret. As always, if you have any questions, never hesitate to reach out - we’re always happy to help!

- Adam, Michelle, Pauline, Lindsay, Sam, & Leanne

OAC, E&O