Diane Birk

Love Where You Live.......Real Estate in Vancouver

I have sold a property at 305 819 HAMILTON ST in Vancouver.
Welcome to the "819" built by Bosa. Efficiently spaced One-Bedroom suite offers in-suite laundry, gas fireplace, laminate flooring, 1 Parking & 1 Locker just down the hall from the suite. A clean and well cared for home. Great investment opportunity or starter condo - rentals allowed (except short-term). On-site caretaker,...
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The Bank of Canada announced today that it is keeping the overnight rate steady at 0.25%. It is expected the Bank will keep this target unchanged until well into 2023 to aid our economic recovery. The Canadian economy is in recession with negative GDP growth, inflation is at zero, the Canadian dollar relative to the U.S. is stable at around $.76, oil prices are hovering around $40 - $43 U...

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I have sold a property at 1202 9188 HEMLOCK DR in Richmond.
Well kept 1 Bedroom suite at Casuarina by Cressy. Beautiful mountain views & open vistas to the east. Bright, efficient layout, includes electric fireplace, gas cooktop, granite counters. 1 Parking & 1 Locker included. 2 Pets allowed (cats or dogs). Rentals OK, but no vacation rental. Central location, a short walk to Canada...
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I have sold a property at 408 4355 10TH AVE W in Vancouver.
Upscale, chic designer Penthouse with priceless panoramic Ocean/City/Mountain vistas in the heart of Point Grey! Extensively renovated to perfection, open layout is most suited to a Single or Couple needing flexibility to have a home office, or occasional guest. 10' ceilings, skylights, over-height windows, bright & airy! Designer...
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The Bank of Canada ("BOC") announced today that it is holding its target for the overnight rate at the "effective lower bound" of 0.25%. 

Cameron Strong, CEO, Invis Mortgage Intelligence notes that "Canadian mortgage holders can expect no further rate drops, nor increases, until 2022. It is expected the Bank of Canada will keep its target rate at 0.25% until well into 2022 to aid our economic...

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The COVID-19 pandemic is affecting all sectors of Canada’s economy, including housing. Job losses, business closures and a drop in immigration are adversely impacting Canada’s housing markets, and CMHC foresees a 9% to 18% decrease in house prices over the next 12 months. In order to protect future home buyers and reduce risk, CMHC is changing its underwriting policies for insured ...

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As expected, the Bank of Canada held the benchmark rate steady at .25%. So far in 2020, Canada has experienced an energy sector shock, a shutdown of its service sector industry, real capacity destruction due to the coronavirus, and there is fear of a second wave of infections. However, despite the grim Canadian data of 16% unemployment, negative GDP growth for 2020 of 8% and a TSX stock market plunge...

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As the longest spring in memory finally gives way to summer, it's nice to see people safely enjoy the sunny weather. IWehope that you and yours are in good health. There continues to be uncertainty about the shifting mortgage market. Here are the most common questions:

Should I break my fixed mortgage to get a lower rate?
If you're only partway through your term, you'll need to pay a penalty...

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It is no surprise the Bank of Canada held firm on its overnight rate of .25% (1/4 percent) and did not venture into negative interest rates that have been tried notably in Europe and Japan with no evidence that negative rates improved GDP outcomes. Generally, economists agree there will not be much of an effect from lower interest rates on new borrowing, because few firms and households will want...

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The provincial government brought a new Rental Tenancy Order (RTO) into effect yesterday, restricting rent increases and evictions during the COVID-19 pandemic.  


The Real Estate Board of Greater Vancouver has been working with the BC Real Estate Association to clarify details of the RTO that are most likely to affect REALTORS® and their clients.  


Eviction moratorium...

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At the turn of the year, many buyers may have become first-time home buyers. As a result of ongoing lobbying efforts, Budget 2019 included not only an increase to the withdrawal limit for the Home Buyers’ Plan (HBP), but also an expansion of eligibility criteria through a redefinition of what the federal government considers a “first-time home buyer.”

As of January 2020, buyers are...

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The Bank of Canada announced today that it is keeping its benchmark rate unchanged despite a weaker economy in the fourth quarter of last year and expectations that growth in the near term will be weaker. Should the recent slowdown in growth be more persistent than forecast, we may see a rate cut. In particular, the Bank will be watching consumer spending, the housing market and business investment....

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I have sold a property at 506 501 PACIFIC ST in Vancouver.
A great starter! This Junior One Bedroom at the "The 501" opens up to approx. 130 sq. ft. of summer living on your west facing patio. Separate den can be an eating nook or private work space. 1 Parking & 1 Locker included. Insuite laundry, gas F/P, Gas stove, laminate flooring. Superb location, walk to the Seawall, new Fresh...
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The Bank of Canada announced today that it is keeping its key rate unchanged, noting that the global economy appears to be stabilizing with growth expected to edge higher in the coming years, although uncertainty relating to ongoing trade conflicts continues to be a risk. A resilient Canadian economy, with investment spending stronger than expected, has allowed the Bank to hold rates while...

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I have sold a property at 10511 LEONARD RD in Richmond.
Flat, rectangular 6045 sf. lot, no ditches, no easements, suitable to hold or build. Large family home can be renovated. House is solid but mostly original condition - large family sized kitchen has been updated. Solid Oak Hardwood flooring under carpets is in good condition, 2 wood burning fireplaces. Great layout to create a...
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The Bank of Canada announced today that it is keeping its key rate unchanged, making Canada an outlier as many countries around the world have responded to a weakening global economy by lowering rates. The Bank noted that Canada's economy has held up well but will be tested as trade conflicts and uncertainty persist. Going forward the Bank will be closely watching our main sources of strength which...

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While persistent trade tensions are affecting global economic momentum, the Bank of Canada announced today that it is keeping its benchmark rate unchanged. While growth in Canada has been strong, the Bank expects this to be temporary with economic activity expected to slow in the remainder of the year. The Bank believes the current accommodative interest rate policy to be appropriate, although they...

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The Bank of Canada announced today that it is keeping its benchmark rate unchanged as persistent trade tensions are having a material effect on the global economy. These ongoing trade conflicts cloud the outlook for the Canadian economy, which is returning to potential growth. As a result, the Bank deems that the current accommodative interest rate policy remains appropriate.

The next rate-setting...

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I have sold a property at 16 4163 SOPHIA ST in Vancouver.
This beautiful, bright townhome in a private, quiet setting just off Main is sure to impress. Gorgeous newly renovated kitchen with gas range and office nook, large open living and dining rooms, the master bedroom fits a king size bed, and includes walk in closet with built in organizers. With separated bedrooms, each with its...
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The first-time buyer incentive, launching on September 2nd, is a shared equity program designed to reduce mortgage payments for qualifying first-time buyers who have the minimum 5% downpayment required for an insured mortgage. The Canada Mortgage and Housing Corporation (CMHC) will provide 5% of the cost of an existing home, or 10% of a new home. This incentive isn't payable until you sell the property and is not charged interest.

Mortgage Payments - CMHC's First-Time Buyer Incentive

No Incentive

5% Incentive

10% Incentive

Purchase Price




5% Down












Mortgage +
Mortgage Insurance




Monthly Payment




Monthly Savings



Yearly Savings



Assumes 25 yr am, 5 yrs, 2.89%

There are a few caveats. If your household income is more than $120,000, you aren't eligible for the program. And your total borrowed amount (including the incentive portion) can't be more than four times your household income. With a household income of $120,000, the maximum purchase price would be approximately $505,000 with 5% down, and about $565,000 for a 15% downpayment.

You are required to pay the incentive back after 25 years or when you sell the home, with the repayment amount based on the property's fair market value, whether it has increased or decreased in value. If you received a 5% incentive and your $500,000 home increases in value to $600,000, then you are required to repay $30,000. If the value deceases to $450,000, you'll repay $22,500. You can repay the incentive at any time without penalty.

This new incentive program has certainly added another layer of complexity to the already complicated mortgage world. Getting expert advice throughout your mortgage years is more important than ever.

Source:  Invis Financial

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Diane Birk
Cellular: 604-760-4884
Head Office: 604-984-9711
Fax: 604-984-3350
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.