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Breaking a mortgage means paying it off early, changing terms, or ending the contract, often incurring penalties. Open mortgages have no fees, but closed fixed-rate mortgages require paying three months' interest or the interest rate differential, whichever is higher. Variable-rate mortgages usually incur a three-month interest penalty. Additional fees may apply. Strategies to reduce penalties include making maximum prepayments, porting the mortgage, blending and extending rates, or having the buyer assume the mortgage. Careful calculation is essential before deciding.

Mortgage rates ended 2025 near annual lows, with strategies available to secure rates below the national average in 2026. Key tips include improving credit scores, lowering debt-to-income ratios, making larger down payments, buying discount points, negotiating seller or builder rate buydowns, considering temporary buydowns, shopping for adjustable-rate mortgages, and opting for shorter loan terms or assumable mortgages. Refinancing depends on future rate drops and personal goals.

Mortgage rates in 2026 are lower than early 2025, with strategies to secure rates below the national average. Key tips include improving credit scores, maintaining a debt-to-income ratio below 25%, making larger down payments, and considering buying discount points to lower rates. Interest rate buydowns and adjustable-rate mortgages (ARMs) can offer short-term savings. Shorter-term loans typically have lower rates but higher payments. Assumable loans are rare but possible with certain government-backed mortgages. Refinancing depends on rate drops and long-term goals.

Several homes in White Rock and South Surrey are on BC Assessment’s Top 500 Valued Residential Properties list for 2026. The Lower Mainland's total property assessments dropped from about $2.01 trillion in 2025 to $1.92 trillion in 2026, reflecting a softening housing market with most values decreasing 0-10%. Notable homes include one in Ocean Park valued at $18.38 million and beachfront properties in White Rock valued around $12-16 million.

Mortgage penalties for breaking fixed-rate deals have nearly doubled in 2025, averaging $6,732. Reasons to rework mortgages include chasing lower rates, moving, renovating, or consolidating debt. Penalties vary by lender; some offer fairer terms or options like variable rates, combined loan plans, or prepayment privileges to reduce costs. Timing and lender choice are key to minimizing penalties. Consulting a mortgage broker can help navigate options.

Kingston Gardens in Surrey will add 85 new non-market rental units for low-to-moderate income families, replacing 24 townhouses with a four-storey building. The $44.7 million project, funded by provincial, federal, and Metro Vancouver Housing contributions, includes amenities like a play court, community gardens, kitchen, shared laundry, and cooling units. Applications are now open.

Real estate investing offers various options from low-maintenance REITs and crowdfunding platforms to renting out rooms or entire properties, and house flipping. REITs provide dividend income with less hassle, while crowdfunding offers higher returns but more risk. Renting a room or property generates rental income but requires management. Flipping houses can yield profits but involves renovation risks. Choose based on your time, capital, and willingness to manage properties.