20 Feb

What do you look for when shopping for a mortgage? There Is More To Your Mortgage Than Just The Rate

Abbotsford Mortgage

Posted by: Matt Robinson

Most people come to me while they are in the process of shopping around for the lowest rate on their mortgage.

Looking for the lowest rate is what everyone is taught to do.

Rarely do people know that the mortgage rate is only ONE of the factors to consider when shopping for a mortgage. And if they are not shopping around it is because they “trust” the bank they deal with – but should they?

Life is busy, and shopping for a mortgage can be a daunting task.


What Is Our Job?

I work for you. My job is to dive in to find out your financial goals and then match those goals with the best lender for your situation.

As an Accredited Mortgage Professional, I keep up to date and educated on the most recent information such as;

  • The lenders that are best suited for debt consolidations, renovations, and construction financing in local areas such as Abbotsford, Chilliwack, Mission and Langley, BC.
  • The lenders that support self-employed borrowers, commissioned and contract borrowers, and new Canadians.
  • The lenders that treat their clients fairly, with reasonable management costs, the lowest penalties and the best renewal policies.
  • And of course, I automatically scan mortgage rates across all Canadian lenders and bring you the best options right out of the gate. 

When shopping for the best mortgage, most Canadians stop too soon, and they only compare the rate and miss many more valuable comparables such as:

  • Mortgage Penalties, specifically IRD penalties.
  • Renewal Policies, specifically what rate discount will be offered (if any) at renewal.
  • What term should you be selecting, 2 Year, 4 Year, or 5 Year Mortgage?
  • Should you be considering a variable rate or a fixed rate?

The biggest savings is often found where people don’t look, in the fine print.

The fine print in a mortgage is hard to understand, to begin with, not to mention trying to compare one bank’s fine print to another.

I can prove that there is anywhere from $35,000.00 – $50,000.00 or more in fees and higher interest costs over 10 years of your mortgage, separating the worst lenders from the best lenders.

This is my value, and this is what I can bring to the table.

The advice that you need to avoid huge penalties and fees, the simplicity of selecting the right lender for your situation with the lowest rate all while saving you loads of time trying to learn all this on your own.

How Do I Make Money?

I find the right lenders and show you your options, and you get to choose from there.

The lender that you pick then pays me for helping to put it all together.

You see, I save them time and money as well, and in return for that savings, they pay me for my services, so you don’t have to.

Most of the lenders pay the same or are so close; there is little to no financial advantage to me recommending one lender over another.

All of This Is To Say:

You get the advice you deserve, the bank saves time and pays me for my services.

This is a win, win, win for everyone involved.

My experience with matching clients with lenders has given me a vast pool of expertise. Practice makes perfect  – and I am a professional when it comes to selecting the ideal mortgage for you.

If you have any mortgage related questions, reach out to me today, and I can answer them for you!

2 Jun

Chilliwack Market Update

Real Estate Market Update

Posted by: Matt Robinson

Congratulations on making the decision to become a homeowner. Owning a home has a lot of added benefits such as artistic freedom, more privacy, tax deductions, equity, and stable payments. Before you can start reaping these benefits, however, you must first find your dream home. This can be done by familiarising yourself with the current market. As your Chilliwack mortgage broker, Matt Robinson with Dominion Lending Centres can update you with the current residential trends, and inform you on when the best time to buy is.

Chilliwack Market

According to the Canadian Real Estate Association, the number of homes sold in April 2018 was 361 units, which is a 3% decrease from April 2017. Comparing the homes sold from January to April this year was 1,108 units, which is a 2.4% decline from the year prior. In addition, the average price of homes sold in April was $533,020, which is about a 16% increase from 2017, and on a year-to-year basis, the average sold price was $516,393, which is a 17.5% increase from last year.

Zolo.ca, states that the median listing price for singe-detached homes was $662,400, the median price for condominiums was $253,850, and the price for townhomes was $446,000. The change in price per year has increased 6.9%, and comparing asking prices from May 2017 to the present, has since increased 24.2%.

If you are looking to buy a home and obtain a Chilliwack mortgage, now would be the time before the market continues to increase. You could even use past residential pricing as a negotiation tool for cheaper rates and better deals.

Get Started Today

For more information on the current residential market, please contact your Chilliwack mortgage lender. With rates constantly fluctuating, Matt Robinson can go through your finances, let you know your affordability, and suggest when the best time to buy would be. His team at Dominion Lending Centres would love to work with you and help finance your dream home. So don’t wait, call his office today to get started at 604-852-1703.

14 May

Mortgage Rates And Why They Fluctuate

Abbotsford Mortgage

Posted by: Matt Robinson

As your local Abbotsford mortgage lender, I understand the confusion behind understanding mortgage rates and why they fluctuate. Mortgage rates can be determined by a number of different factors including, but not limited to:


  • Economy: Depending on how well the economy is doing determines if interest rates will rise and fall. For example, if the economy is doing really well then rates will increase, and the opposite will occur if there is a decline in the economy.
  • Residential Market: If there is an increase in the residential market then there will be more of a demand for mortgages. An increase in demand means an increase in rates.
  • Inflation: Mortgage brokers will analyze past and current rates to see how the market has changed over time. They can then predict where the market will head in the future. These analyses can determine if there will be inflation, and thus affect mortgage rates.
  • Global Factors: This includes unemployment, food and gas prices, and political involvement.


Being aware of the current market and understanding how these factors can affect the rise and fall of interest rates can help determine what the cost of your Abbotsford mortgage will be. For more information on factors that affect the economy, please contact Matt Robinson at Dominion Lending Centres at 604-852-1703.


Fixed Rate Mortgage

A fixed-rate mortgage is where your monthly rates are set and will never change throughout the duration of your loan term. These rates are determined by the Government of Canada bond yields. Bond prices and bond yields have an opposite effect on each other. This means that if bond prices are decreasing then bond yields are increasing. Bond prices will decrease if the economy is doing well.


Bond yields have a direct relationship with fixed rates. So if the economy is doing well then bond prices are decreasing, bond yields are increasing and fixed rates are increasing. If the economy is booming then consumers are purchasing more, which creates a higher demand. An increase in demand means an increase in rates.


Variable Rate Mortgage

Variable mortgages have rates that can fluctuate month to month, which is dependent on the lender’s prime rate. The Bank of Canada determines these rates since they choose the target overnight lending rate. The overnight lending rate is the interest banks accrue when borrowing or lending against themselves. If the overnight rate changes then so do the cost of borrowing and lending, which affects the prime rate. Variable rates are influenced by the prime rate, which means if the prime rate increases, then so will your variable rate.


Contact Us

To get a more detailed explanation of mortgage rates and how they fluctuate, please contact your local Abbotsford mortgage broker today. Matt Robinson is the local broker that will educate you and help guide you throughout the home loan process. So don’t wait, call his office today at 604-852-1703 to get started.

19 Apr

Mortgage Survival Guide – Abbotsford Mortgage

Mortgage Tips

Posted by: Matt Robinson

Matt Robinson | Dominion Lending Centres




As a first time homebuyer, trying to figure out how to get a mortgage can be overwhelming. Matt Robinson, at Dominion Lending Centres, has created a mortgage survival guide to help you be more organised throughout the home loan process. Working with Matt Robinson to obtain your first Abbotsford mortgage can help you get the best options and rates on the market.


  1. Organisation:

Being organised with your finances can help prepare you for a mortgage. Before you start your home loan application, make sure you know your current credit score. Your income and credit score largely affected how much you are able to borrow. If you notice any faults on your record then you should fix these problems before your application is sent in.


  1. Pre-approval:

Contact your local Abbotsford mortgage lender to get pre-approved. This can be beneficial because it will let you know exactly how much you can borrow from the lender, and therefore, know exactly what price range to shop in. Knowing your affordability in advance can save you time by avoiding homes that are not in your budget.


  1. Income:

You are given more credibility depending on how long you have been working at your current job for. Lenders appreciate borrowers who have a steady income of at least two years with their current employer. If you constantly switch jobs, now might not be the best time to buy a home because lenders want to see that you are financially responsible.


  1. Savings:

Before you start your home loan application, make sure you have enough money in the bank to pay at least 5% of your home’s down payment. The more savings you have, the better your application will look. If you have a lot of debt and no savings, you will most likely be declined for a home loan. In addition, continue saving and avoid making other big purchases until after your loan has been approved. Taking on unnecessary debt can hurt your application.


Buying a home is most likely the biggest purchase you will ever make. Make this an exciting time instead of a stressful one. Following this mortgage survival guide will help prepare you for homeownership. If you have any questions or are wanting to get started on your application today, please contact your Abbotsford or Chilliwack mortgage lender at 604-852-703 or email info@matthewrobinson.ca.

13 Mar

The Difference Between Fixed and Variable Rate Mortgages


Posted by: Matt Robinson

Are you in the market for an Chilliwack mortgage, or are looking for an Abbotsford mortgage broker, well look no further because Matthew Robinson is here to help you!

When deciding which home loan is your best option, it is important you evaluate your finances. Be aware and honest about your income, the specific lifestyle you lead, and your personality. Some mortgage rates are riskier than others so it is important you recognise whether or not you can handle the inconsistency and potential risks that are associated with those loans.

So what loan is right for you? There are two main types of loans: fixed rate mortgages and variable rate mortgages.

Fixed Rate Mortgages

A fixed rate mortgage is a loan where the rates are consistent throughout the term of the loan. No risk is associated with this loan in terms of interest rates going up unexpectedly. Your monthly payments will not fluctuate, and instead stay consistent. This is a great option if you do not like to take risks. With this loan, you know exactly how long it will take you to pay off because the rate never changes. It allows you to accurately budget, however, higher interest rates are usually associated with fixed mortgages.

Variable Rate Mortgages

A variable rate mortgage is a loan where the interest rates are a lot lower than a fixed mortgage. This mortgage is associated with a lot more risk. Without a heads up, the interest rates could increase or decrease. This inconsistency can cause people a lot of stress, so it is important to understand if you can handle the risk or not. Assessing your financial situation and seeing if you can afford at least a 2% increase in your variable rate, is a good way to know if this option works for you.

Get Started Today!

Regardless of which loan you would like to go with, your local Abbotsford and Chilliwack mortgage broker can work with you and advise you on your best option. So don’t wait, contact Matt Robinson today at 604-852-1703 or info@matthewrobinson.ca.

11 Feb

Chilliwack Mortgage Lender – Market Update


Posted by: Matt Robinson

Like in many other Canadian cities, 2017 was a banner year for the Chilliwack real estate market.

According to the Chilliwack & District Real Estate Board, the volume of home sales last year was beat out by only one other year on record. The total number of home sales that were recorded at the end of last year through the MLS System by the CDREB was well over the number of sales recorded the at the same time the year before.

At the end of December 2017, there were a total of 204 recorded home sales. This figure is almost 24% higher than the total number of sales recorded in the same month of 2016. When the sales figures for the entire year are compared, 2017 saw a total of 3,983 sales which was actually 7.5% lower than the annual total for 2016.

This shows us that despite coming in slightly below the year before as a whole, last year ended much higher than expected and has set Chilliwack up for a fantastic market as we head into the New Year!

As there continues to be a pressing demand for homes in the area, new residential listings have almost doubled on a year over year basis. In December of 2017, 181 new residential properties were listed on the market, 36.1% more than in December of 2016.

Despite this increase in new listings at the end of the year, there were still less active listings at the end of December 2017 than there were at the end of December the year before. This tightening between the supply and the demand of homes in the local area has contributed to the continued increase in the sales price of homes.

In December of 2017, the average sales price of Chilliwack homes was recorded at $483,156. This price is up nearly 25% from December of 2016. On an annual basis, the average sales price of Chilliwack homes rose 16.8% to $464,897 in 2017. This increase does not come unexpectedly as the annual average price saw an increase of a larger 18.4% between 2015 and 2016.

If you are interested in purchasing a home in the local area, you will get the most out of your mortgage process by working with a reputable Chilliwack mortgage lender. Give me a call to find out more about your home financing options or to get started on your mortgage process today!

11 Jan

Abbotsford Refinance – Refinancing Your Mortgage


Posted by: Matt Robinson

Are you interested in lowering your monthly mortgage payments? Do you have unexpected medical bills you need to pay? Or perhaps there are some renovations you would like to do in your home?

If so, have you considered refinancing your existing mortgage to help you offset some of these additional expenses?

While a mortgage refinance is not something to jump into without all of the facts, there are many reasons for homeowners to consider refinancing their existing mortgage, including the ones mentioned above.

When you refinance your mortgage, you are basically replacing your current mortgage with a new one. This new mortgage will have either a different interest rate, term or loan amount – or possibly all three. If you want to lower your monthly mortgage payments, you may try refinancing to a lower interest rate or a longer term. Some homeowners manage to save up enough to pay off a portion of their loan, giving them the option of refinancing their mortgage and obtaining a new mortgage with a lower loan amount.  If you want to access some of the equity that you have built up in your home, you may try to refinance to a larger loan amount.

While taking advantage of lowered interest rates is the most common reason to refinance a mortgage, that is clearly not the only reason. In fact, there are some cases where you may be better off adjusting other aspects of your mortgage contract instead of negotiating for a lower interest rate.

Because you are essentially obtaining a new mortgage, the process of refinancing your mortgage is just as involved as it was with your original mortgage. You will still be required to fill out an application and your qualifications and eligibility will still be evaluated. There may also be additional closing costs associated with your refinance, similarly to when you closed on your original mortgage.

Refinancing your mortgage can be a complicated process, which is why it is so important to work with an experienced mortgage professional. As a trusted Abbotsford mortgage broker, I am here to make sure that refinancing your mortgage is indeed the best option for your situation and, if it is, to make sure you are getting the best financing possible!

If you are thinking about refinancing your mortgage, give me a call today!

13 Dec

Chilliwack Mortgage Broker – 4 Questions to Ask Your Mortgage Broker


Posted by: Matt Robinson

As a Chilliwack mortgage broker who has been working in Chilliwack, Abbotsford and the surrounding area for some time, I have helped numerous clients achieve their dreams of affordable home ownership. I do this by providing my clients with all the tools and resources they need to make confident decisions about their mortgage options.

As a professional in the industry, I believe that my job involves more than just getting mortgages for my clients. It involves educating them throughout the process and relieving the burden of stress that tends to come with the mortgage process.

I truly enjoy the relationships I have built with my clients over the years and I love being able to help them enrich their lives through the pride and joy that comes with the purchase of a new home.

I understand that each of my clients had a chose to make when it came to who they were going to work with for their mortgage, and I am honored to have been chosen by so many.

In an effort to make your decision easier, I decided to create this post with a list of questions that are important for borrowers to ask before they choose their mortgage broker. The answer you get when you ask these questions should help you narrow down your search and find the mortgage broker that is the best fit for your needs.


Question Number One – Do You Have References?

It is important to feel that you can trust the person you will be working with, especially when it comes to such a large financial transaction, like the purchase of a home. If you were not referred to the mortgage broker by someone you trust, make sure to find out what people have to say before making your final decision.


Question Number Two – How Long Have You Been in Business?

With this question, you don’t necessarily need to be looking for someone who has been in the business for 20-30 years. While that amount of experience is fantastic, someone who is relatively new to the industry (at least 5 years of experience) could still provide you with outstanding service and may be more up to date on the latest market news and trends.


Question Number Three – What Does the Application Process Look Like?

Regardless of who you decide to work with, you will want to know in advance what to expect from the application process, what paperwork or verification will be required, and how long you should expect the process to take.


Question Number Four – Do You Have Any Areas or Loans That You Specialize In?

Whether you have problems with your credit or you are self-employed, every situation is different. Each of these different situations requires a different level of service and, of course, different financing options.

Be sure to find out if the brokers you are considering have experience or the required qualifications to work with you on your particular situation.

Asking these four questions should help you get off to a great start when it comes to deciding on the right mortgage broker for you!