Monthly Archives: September 2017


Love Real Estate Group proved an invaluable help when helping us through the maze of buying a new home, especially when for us it was our 1st home in a new country. No problem was too big and their fun approachable demeanours meant that the whole process was a lot less stressful than it might’ve otherwise been.

Julie & Stuart Ockelford

We had been planning a move from Calgary to Nanaimo for retirement purposes for a few years. Upon discovering Love Real Estate Group a relationship began. Over a period of time, with patience, professionalism, good humour and integrity, Love Real Estate Group helped us secure a home that met our needs and our wishes. We are happy to recommend Love Real Estate Group to anyone looking to buy a property in the Nanaimo area.

Diane and Tom Crawford

Rising Interest Rates – What does it mean to you?

Published By: on September 14th, 2017 in Category Buyer Information, Nanaimo Real Estate

Written on September 14, 2017

Last week the Bank of Canada raised their interest rates, again, by a quarter of a percent. Financial experts are expecting one more similar hike before the end of 2017.

Why are they rising? Interest rates are rising because of Canada’s strong economy. Business is good. Low interest rates are meant to stimulate the economy and they have done their job.

The good news: Rising interest rates mean greater return on investment dollars. For those who already own their own home and are living off their investments, they will be breathing easier.

The bad news: We are still 3% below 2008 rates but with higher prices and higher stress tests. The stress test means that you must qualify for an interest rate that is 2% higher than what you will actually be paying. This is to protect consumers from getting caught paying more than they can afford if rates continue to rise.

If you are trying to get into the market, you need to lock in current rates before they rise again. Get a 3 month written approval from your lender. You’ll need to go through a full credit review in order to get a guaranteed rate. Then it’s time to shop!

Call us at Love Real Estate Group to help you find your new home. We’d love to help you through the process.  Call 778 557-5640