Think mortgage rates are high? Guess again
INDUSTRY EXPERTS
BIRGIT HOLM
2These days, mortgage broker
Birgit Holm finds herself telling some clients not to worry too much. Interest rates are rising, and that is generally not welcome news for homebuyers applying for a loan and homeowners with existing mortgages.
Holm has been a mortgage broker for 13 years, and she understands the positive underlying reason why interest rates are going up after having stayed at historic lows for many years.
“The economy is improving,” Holm told the Georgia Straight in a phone interview. “So I tell my clients the fact that rates are going up is a good sign.”
Major banks have boosted their prime lending rates to 3.2 percent, following a move by the Bank of Canada on September 6 to raise its trendsetting rate for the second time this year. There is much speculation that a third increase may occur before the end of 2017 because of the strong performance of the economy.
“When I started, rates were in the five-percent range,” Holm recalled. “Now they’re a lot lower, and they’re creeping up again and people think, ‘Oh no. They’re so high,’ and I say, ‘No, they’re not high. It’s still really low.’ ”
To those looking to purchase their first home, Holm suggests building a long-term relationship with an experienced mortgage broker to guide them through such things as paying down some debt and improving credit.
Holm also shared some of other thoughts.
BEST WAY TO AVOID LONG-TERM TROUBLE WITH A MORTGAGE
“Have a plan. Work with an experienced mortgage broker who will help you plan for the long term— maybe set you up in a mortgage with a 30-year amortization, but pay as
MARK ERNSTING
2Aside from being named one of
the 14 most influential people in cycling by Canadian Cycling magazine, ex–pro rider Mark Ernsting has plenty to brag about.
First getting into the sport after “cycling from North Van to watch the Gastown Grand Prix every year”, as he tells the Straight, Ernsting started racing competitively in his freshman year at UBC. Loving the speed, the technical difficulties, and the mental tactics, he very quickly rose through the ranks and was offered a cycling and academic scholarship in the U.S. After one season racing in Belgium, one in France, and another in the States, he became a five-time victor at the Canadian National Track Championships. Somehow finding even more space on his mantelpiece for silverware, Ernsting took home several world cups as well as medals from a number of international competitions, including the Pan Am Games. Not bad for a local boy.
After a stint in the U. S. as a professor of exercise science and sports management, Ernsting felt compelled to start his own business and moved back to Vancouver in 2007. The founder and co-owner of M1—a company that deals with corporate marketing, event management, and athlete representation—ernsting is heavily involved in the province’s cycling calendar, including taking on the role of series director for B.C. Superweek, a collection of races such as the Gastown Grand Prix, Tour de Delta, and Giro di Burnaby.
Now spearheading various initiatives in and around Vancouver, including donating bikes to disadvantaged kids and launching the inaugural Our Cityride, which saw thousands of the city’s families hit the streets last month, Ernsting is on the frontlines of the local cycling scene—and he knows exactly which are the five best trends emerging in Vancouver.
BEST BIKE FOR USE BY PEOPLE OF A CERTAIN AGE
“Electric bikes are something that’s already a big thing in Europe, and their presence is growing in North America. In Vancouver, the terrain means that it’s in demand. A lot of people choose an electric bike because although they want to commute by cycling, they feel that, psychologically, they’re unable to get up the city’s big hills because they’re not fit enough— even though they probably are. The electric bike does that work for them. The bike also allows older people to stay active and be able to go out on outings with their family without having to work as strenuously.”
BEST PREDICTION FOR BIKESHARE PROGRAMS
“[Bike-share programs are] going to take off more and more, especially among the younger generation. Nowadays, people are taking much longer to get their driving licences, and few invest in getting a car. Those who do get their licence are using more of the car-share programs.
BIKE SHOP TO GET A TUNE-UP/ REPAIR
1. Ride On
Various locations 2. Bike Doctor
137 West Broadway 3. MEC
Various locations
NEIGHBOURHOOD/COMMUNITY BIKE STORE
Our Community Bikes
1.
2429 Main Street 2. Ride On
Various locations 3. Reckless Bike Stores
Various locations
SPORTING- GOODS STORE
1. MEC
Various locations 2. Sport Chek
Various locations 3. Sports Junkies
102 West Broadway
SPORTS ADVENTURE CENTRE Richmond Olympic Oval
1.
6111 River Road, Richmond 2. Origins Parkour
2665 Main Street, 3rd floor 3. Squamish Adventure Centre 101–38551 Loggers Lane, Squamish
RUNNING CLUB
1. Running Room
Various locations 2. Vancouver Running Company
1886 West 1st Avenue 3. Forerunners
Various locations
LOCAL CASINO
1. River Rock Casino
8811 River Road, Richmond 2. Edgewater Casino
760 Pacific Boulevard South 3. Hard Rock Casino Vancouver
2080 United Boulevard, Coquitlam
BEST HIKE TO DO IN THE WINTER
St. Mark’s Summit
Cypress Provincial Park
“It’s amazing and it’s pretty easy to do in the winter. It offers unbeatable sunsets that overlooks the entire Howe Sound and Squamish Valley.”
BEST WAY TO PREPARE FOR A LONG HIKE
“The first thing would be to do your research, know what you’re getting yourself into, and have a trip plan, a safety plan, and an emergency plan. If you’re going to start getting into longer hikes, making sure that you know what to do is always what we recommend. Keeping hikes in your comfort zone relative to what you’ve hiked before is also recommended.”
BEST PLACES TO HIKE THAT OFFER AMAZING VIEWS
Tunnel Bluffs
Sea to Sky Highway
Bowen Lookout
Cypress Provincial Park
St. Mark’s Summit
Cypress Provincial Park
Mount Seymour’s first peak Mount Seymour Provincial Park “Time of day dependent, but Tunnel Bluffs is amazing, Bowen Lookout, and St. Mark’s. Mount Seymour’s first peak is always just a go-to. It’s safe, it’s easy to get to, it’s relatively easy for any fitness level, and it overlooks beautiful mountains to the east, the city, and everything to the west.”
BEST THING YOU’VE LEARNED ABOUT HIKING WITH A BIG GROUP OF PEOPLE
“It’s how much people are capable of and how much people care. We’ve been pretty blown away by things like Canada Day, where people say that we can never take that many people up in a place like that because it’s going to get destroyed. [But] they see us leaving it better than we found it, so it just goes to show that people care a ton, and as long as they are given the right circumstance, they’re going to prove that.”
BEST WAY TO CELEBRATE AFTER A SUCCESSFUL DAY OF HIKING
“Always a float session in the lake. Even in the winter, like a quick dip and a quick swim.”
> TAMMY KWAN
NATURAL PHARMACY Finlandia Pharmacy & Natural Health Centre
1.
1111 West Broadway 2. Pure Integrative Pharmacy
Various locations
3. Kripps Pharmacy
5413 West Boulevard
RUNNING RACE
BMO Vancouver Marathon
1.
2. Seawheeze Half Marathon 3. Scotiabank Vancouver Half
Marathon & 5K
GYM
Ron Zalko Fitness & Yoga
1.
1807 West 1st Avenue 2. Steve Nash Fitness World & Sports Club Various locations 3. Innovative Fitness
Various locations
NUTRITIONIST
1. Rich Ralph
2. Erika Weissenborn
3. Jennifer Hill (Foodie Nutrition)
PHYSIOTHERAPIST Insync Physiotherapy
1.
Various locations 2. Treloar Physiotherapy
Various locations
3. Focus Physio + Wellness
109 West 2nd Avenue
CHIROPRACTOR The Powerhouse Chiropractic
1.
1675 Main Street
2. Dr. Dominic Chan
205–1750 East 10th Avenue 3. Dr. Gordon Gertz
1065 Cambie Street
INTEGRATED HEALTH CLINIC
1. Qi Integrated Health
1764 West 7th Avenue 2. Peakform Wellness
205–1750 East 10th Avenue 3. Yinstill Reproductive Wellness
3523 Main Street
MARTIAL-ARTS STUDIO Elements Academy of Martial Arts
1.
4465 Dunbar Street 2. Purple Dragon Kitsilano
2939 West 4th Avenue 3. Academie Duello
Various locations
OPTOMETRIST
Mount Pleasant Optometry Centre
1.
104 East Broadway
2. Vida Eyecare
800 West Broadway 3. Performance Vision Eye Care
Various locations