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New property listed in Normanview West, Regina

I have listed a new property at 27 Hastings CRES in Regina. See details here

A great family home and pride of ownership is evident in this nearly 1100 sqft bi-level home built in the desirable neighbourhood of Normanview West. Walk on into this move-in ready home with a bright and cozy living room withs its hardwood floors; opening up to the dining area with patio doors accessing the massive deck and expansive yard. The warm & inviting kitchen offers views of the yard and is open to both the living room and dining area ; perfect for entertaining. A Corner pantry and ample counter space provided for all your cooking & baking needs. Down the hallway, is a large main floor bathroom, extra large primary bedroom with lots of closet space, and an additional bedroom. The basement is fully finished and a great space to watch movies or let the kids play. The basement offers a large rec room, additional 3 pc bath, bedroom, den and combined laundry /furnace and storage room. This home has been well cared for and upgraded by the owner and improvements included newer PVC windows throughout with the exception of two in the basement, newer high eff furnace, updated vinyl exterior with stack stone, updated shingles, soffit, fascia and downspouts; updated lighting and flooring including newer carpets and laminate, some newer bathroom fixtures, new exterior front door, newer interior doors and closets doors, updated baseboards, modern paint selection throughout and more! With a large lot, you have plenty of room on the round about driveway and lane access in the back provides options for a future garage if wanted. Don't wait, call the listing agent today to book your own private viewing!

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Rising Interest Rates and The Effects On The Market

I believe that relationships are more important than transactions. I started a career in real estate in 2006 with Remax Crown Real Estate In Regina, and since that time, I have built a Regina real estate business around that philosophy. My goal is a personalized one-on-one service to fully understand you and your real estate goals and to be 100% accountable to you. In my latest blog post, I provide some expert real estate tips that stand the test of time. In my latest real estate tip I tackle the subject of rising interest rates and how it may affect you as a homeowner ( or potential homeowner).  

When a rise in interest rates may affect you

A rise in interest rates often means that it will cost you more to borrow money.

A rise in interest rates may affect you if:

  • you have a mortgage, a line of credit or other loans with variable interest rates 
  • you’ll need to renew a fixed-interest-rate mortgage or loan

Your financial institution could also increase your interest rate if you don't make payments on your credit card or loan.

How interest rates work

Interest rates rise and fall over time. If you’re borrowing money, interest is the amount you pay to your lender to use the money. The interest rate is used to calculate how much you need to pay to borrow money. 

Financial institutions set the interest rate for your loan. This could be a mortgage, line of credit or another type of loan. 

You can find your interest rate in your loan agreement. Your financial institution must provide you with certain information about interest rates on your loan. 


Fixed and variable interest rate loans

When you get a loan, your financial institution may offer you a fixed or variable interest rate.

A fixed interest rate will stay the same for the term of your loan. A variable interest rate may increase or decrease over the term of your loan. 

Some lenders may offer you a lower introductory rate for a set period for certain types of loans. Make sure you can still afford the payments at the regular (higher) interest rate.

Dealing with a rise in interest rates

Pay down your debt as much as possible to deal with a rise in interest rates. If you have less debt, you may be able to pay it off more quickly. This can help you avoid the financial stress caused by higher interest rates and bigger loan payments.

You can deal with a rise by using these tips:

  • reduce expenses so you have more money to pay down your debt 
  • pay down the debt with the highest interest rate first to pay less interest over the term of your loan
  • consolidate high-interest debts, such as credit cards, into a loan with a lower interest rate 
  • avoid getting the maximum mortgage or line of credit that a lender offers you
  • avoid taking on unnecessary debt with things you want but don’t need
  • avoid borrowing more money as it could limit your ability to save for your goals
  • find ways to increase your income to help you pay down debt
  • make sure you have an emergency fund to deal with unexpected expenses, such as covering higher loan payments to avoid penalties

What is a trigger rate?

When your mortgage or loan has a variable interest rate with a fixed payment, you may reach your trigger rate if interest rises.

Your trigger rate is the rate at which your mortgage or loan payment will no longer cover the principal and interest due for that period. Once you've reached the trigger rate, your payment will only cover interest payments and no money will go toward paying down your principal.

Reaching your trigger rate means that you’ve stopped paying down your loan and you’re now borrowing more money. This is often called negative amortization.

The best way to find out your trigger rate is to review your mortgage or loan agreement. You can also contact your financial institution. They’ll be able to calculate the exact rate for you. They’ll also be able to let you know your options if you reach your trigger rate.

If you reach your trigger rate, you may be required to:

  • increase your payments
  • make additional payments to cover the excess interest
  • change to a fixed-rate mortgage

If you’re not at the maximum amortization period allowed, your financial institution may offer to extend your amortization. This would avoid having to increase your payments. However, extending your amortization means paying for a longer period and paying more interest in the long run.

Suppose you have a mortgage of $300,000 with a variable interest rate of 4% and 20 years left on your amortization. If you extend your amortization by 2 years, it’ll cost you $15,126.26 more in interest. The decision to keep the same payments while interest rates rise can become very expensive over time.

When interest rates are on the rise, contact your lenders as soon as possible to find out about your trigger rate and discuss your options.

Impact of a higher interest rate on your loan payments

The following examples show you how your mortgage, line of credit or loan payments may be affected when interest rates rise.

How a rise in interest rates could affect your monthly mortgage payments

Suppose you have a mortgage of $300,000 with a variable interest rate and a 25-year amortization. Your interest rate is currently 3% and it goes up to 4,5%. Your mortgage payment will go from $1,420 to $1,660. An increase of $240 a month.


Partner up with me, I’m a top Regina RE/MAX Agent, and an experienced Regina REALTOR® 

If you are looking for a Regina Realtor who works tirelessly on your behalf and always offers honest and candid advice, I will be an expert at your side. I am a Trusted Regina Realtor and a top REMAX Crown Real Estate Agent



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New property listed in Greens on Gardiner, Regina

I have listed a new property at 4617 Green Water RD E in Regina. See details here

Stylish luxury combined with a contemporary design, this 1923 square foot 'Mystic Canopy' home has it all. Perfect for the whole family, this home welcomes everyone with spacious living areas, a luxurious designer kitchen and an open concept main floor perfect for entertaining all year round. Shield your grown-up toys from our Saskatchewan winters in the expansive attached triple car garage. Whatever your needs are, the Mystic Canopy will definitely meet them all with taste and flair. Move-in ready, this home features a beautiful two-tone kitchen cabinetry with shaker oak island and warm white shaker cabinetry on the perimeter. The cabinetry is complimented by a stunning marbled grey and white quartz which is paired with a classic warm white subway tile throughout. A beautiful “Transitional” lighting package and chrome plumbing fixtures are a beautiful compliment to the light and airy colour palette in this home. The home is finished with a full stainless steel appliance package. Throughout the main level, an elegant, whitewashed oak laminate flooring adds a natural warmth to the space while a grey marbled grouted luxury vinyl tile welcomes you in the entryway and bathrooms. The living room features an elegant electric fireplace with custom millwork detailing and marbled grey tile. Upstairs, the three bedrooms and bonus room are completed with plush grey carpet under-foot. The bonus room includes a built-in desk area perfect for homework or colouring projects. The expansive primary suite with a well-sized walk-in closet and elegant ensuite bathroom with double sinks, a freestanding tub and tiled shower surround, its separate water closet allows for utmost discretion. The secondary bedrooms are well-sized and have their own bathroom with double sinks easing morning prep. To book your own private viewing contact the listing agent today.

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New property listed in Greens on Gardiner, Regina

I have listed a new property at 3518 Green Creek RD in Regina. See details here

Stylish luxury combined with a contemporary design, this 1923 square foot 4 bedroom Up, Mystic home has it all. Perfect for the whole family, this home welcomes everyone with spacious living areas, a luxurious designer kitchen and an open concept main floor perfect for entertaining all year round. Shield your grown-up toys from our Saskatchewan winters in the expansive attached triple car garage. Whatever your needs are, the Mystic will definitely meet them all with taste and flair. Move-in ready, this home features a beautiful two-tone kitchen cabinetry with black shaker lowers and crisp white shaker cabinetry on the perimeter. The cabinetry is complimented by a gleaming white quartz which is paired with a classic white subway tile and contrasting grey grout throughout. A beautiful “Modern Farmhouse” lighting package and black plumbing fixtures are a beautiful compliment to the dramatic colour palette in this home. The home will be finished with a full stainless steel appliance package (not shown). Throughout the main level, an elegant, beige oak laminate flooring adds a natural warmth to the space while a black marbled grouted luxury vinyl tile welcomes you in the entryway and bathrooms. The living room features an elegant electric fireplace with rustic black brick tile. Upstairs, the four bedrooms are completed with plush greige carpet under-foot. The expansive primary suite with a well-sized walk-in closet and elegant ensuite bathroom with double sinks, a freestanding tub and tiled shower surround, completed with its separate water closet to allow for utmost discretion. The secondary bedrooms are well-sized and have their own bathroom with double sinks, easing morning prep. For more information or to book your own private viewing call the listing agent today.

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New property listed in Broders Annex, Regina

I have listed a new property at 2105 Abbott ST in Regina. See details here

Location, location, location. This is a prime location for a possible future multi unit development being located next to amenities and services. Large corner lot with lane provides access on 3 sides. Current property is in good shape for rental with some newer laminate flooring and windows, furnace serviced and working, newer high efficient owned water heater. Contact agent for more details.

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