5 of Vancouver’s Most Popular Winter Activities

Matt Chan • February 19, 2016

Skiing & Snowboarding (Not Included)

Do you live in or near Vancouver? Are you an outdoors lover, minus the whole skiing and snowboarding thing? Are you wondering how to spend your free time during the long, dreary winter months? Well, wonder no longer! The following are five non-skiing/snowboarding adventures that will get you outside and near (but not on) the slopes this winter…exactly where you want to be:

Ice skating (Robson Square)

Got the ice skating bug? If so, you have options. You could fire up your classic Nintendo and play some Blades of Steel (truly a classic of our time). Additionally, you could retrieve and play your copy of Blades of Glory, starring Will Ferrell. However, provided these excellent, albeit lazy, options don’t satisfy- if you simply must have the real thing, then look no further than the ice rink and plaza at Robson Square (sponsored and maintained by the Government of British Columbia).

This popular family attraction opens on December 1st of each year, and boasts extended holiday hours (closing for good at the end of February). Skating is free (which is a rarity these days) provided you bring your own skates. Otherwise the skate rental, with rental helmet included (safety first!), will set you back $4.00. A great deal by any standard.

This winter adventure, for which you don’t even need to leave the city, is fun for the whole family! It’s an afternoon complete with rosy cheeks, hot chocolate (fresh from the on-site concession stand) and a whole lot of laughs.

Snow Tubing (Grouse/Cypress/Whistler)

Rated a “2” out of “5” on the adventure scale, but a “5” out of “5” on the fun scale, we find snow tubing. This is a popular winter option across this great country of ours; however, the west, (according to many) does it best, with superbly maintained runs at some of the most well known mountains to grace the known landscape. Here are three options:

Squamish (Sea to Sky Gondola)
It’ll cost you five bucks to use the tubing hill in addition to $12 to $34 (depending on your age) for a gondola ticket, but the thrill is there, if you want it!

Cypress Mountain
Located a mere hop, skip and a jump from Vancouver proper, Cypress Mountain boasts six “tube shoots” from which to choose, varying in extremes from: your grandma’s tubing hill to “strap in and hold on tight”. The choice is truly yours.

Mount Seymour
The cost at this hill is a little steeper than the others (coming in at between $20 and $22 for two hours), but the fun, for many, is worth the price of admission. Also, Seymour includes a “tube tow”, so depending on who you are, an easy ride back to the top may very well be worth the extra few dollars. There is a sliding hill at this location as well, but this also costs a pretty penny- $10 is the standard rate, here, no time restrictions.

Snowshoeing

Continuing on our winter activities tour (minus the skiing and snowboarding), we come upon the sport (?) of snowshoeing. This is a touch more adventurous than snow tubing in addition to being a load more physically taxing, but the rewards: that of finding yourself in the great outdoors while clocking valuable exercise, are worth it to many snowshoe junkies. “Official” trails are available at most of the major ski hills (Cypress, Grouse, Seymour, Whistler, and Blackcomb) in addition to free trails in and throughout the lower mainland.

Cross Country Skiing (Cypress/Whistler’s Olympic Park)

Combine the physicality of snowshoeing with a heightened level of skill, and what do you get? That’s right…cross country skiing. Of note here, Cypress Mountain includes several kilometres of groomed trails complete with stunning views of the surrounding landscape, and delicious meals at their lodge. Additionally, if you don’t mind driving the extra distance, Whistler’s Olympic Park is a state of the art, cross country skiing heaven.

Visit Vancouver Island

Finally, We’d be remissed if we didn’t mention the beauty that is Vancouver Island. When the January/February doldrums hit, what better than cross the channel into green grass, rain forests, surfing and hiking. BC Ferries terminals in Tsawwassen and Departure Bay give quick access to this mid-winter hideaway. It’s like winter never existed.

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What You Need To Know About Co-Signing A Mortgage

By Matthew Chan • March 5, 2025

So you’re thinking about co-signing on a mortgage? Great, let’s talk about what that looks like. Although it’s nice to be in a position to help someone qualify for a mortgage, it’s not a decision that you should make lightly. Co-signing a mortgage could have a significant impact on your financial future. Here are some things to consider. You’re fully responsible for the mortgage. Regardless if you’re the principal borrower, co-borrower, or co-signor, if your name is on the mortgage, you are 100% responsible for the debt of the mortgage. Although the term co-signor makes it sound like you’re somehow removed from the actual mortgage, you have all the same legal obligations as everyone else on the mortgage. When you co-sign for a mortgage, you guarantee that the mortgage payments will be made, even if you aren’t the one making them. So, if the primary applicant cannot make the payments for whatever reason, you’ll be expected to make them on their behalf. If payments aren’t made, and the mortgage goes into default, the lender will take legal action. This could negatively impact your credit score. So it’s an excellent idea to make sure you trust the primary applicant or have a way to monitor that payments are, in fact, being made so that you don’t end up in a bad financial situation. You’re on the mortgage until they can qualify to remove you. Once the initial mortgage term has been completed, you won’t be automatically removed from the mortgage. The primary applicant will have to make a new application in their own name and qualify for the mortgage on their own merit. If they don’t qualify, you’ll be kept on the mortgage for the next term. So before co-signing, it’s a good idea to discuss how long you can expect your name will be on the mortgage. Having a clear and open conversation with the primary applicant and your independent mortgage professional will help outline expectations. Co-signing a mortgage impacts your debt service ratio. When you co-sign for a mortgage, all of the debt of the co-signed mortgage is counted in your debt service ratios. This means that if you’re looking to qualify for another mortgage in the future, you’ll have to include the payments of the co-signed mortgage in those calculations, even though you aren’t the one making the payments directly. As this could significantly impact the amount you could borrow in the future, before you co-sign a mortgage, you’ll want to assess your financial future and decide if co-signing makes sense. Co-signing a mortgage means helping someone get ahead. While there are certainly things to consider when agreeing to co-sign on a mortgage application, chances are, by being a co-signor, you'll be helping someone you care for get ahead in life. The key to co-signing well is to outline expectations and over-communicate through the mortgage process. If you have any questions about co-signing on a mortgage or about the mortgage application process in general, please connect anytime. It would be a pleasure to work with you.

Is It the Right Time to Refinance? 5 Signs You Should Consider It

By Matthew Chan • February 27, 2025

Refinancing your mortgage can be a smart financial move, but how do you know if it’s the right time? Whether you’re looking to lower your monthly payments, access home equity, or consolidate debt, refinancing can offer valuable benefits. Here are five key signs that it might be the right time to refinance your mortgage in Canada. 1. Interest Rates Have Dropped One of the most common reasons Canadians refinance is to secure a lower interest rate. Even a small decrease in your mortgage rate can lead to significant savings over time. If rates have dropped since you took out your mortgage, refinancing could help you reduce your monthly payments and save thousands in interest. ✅ Tip: Check with your mortgage broker to compare your current rate with today’s market rates. 2. Your Financial Situation Has Improved If your credit score has increased or your income has stabilized since you first got your mortgage, you might qualify for better loan terms. Lenders offer lower rates and better conditions to borrowers with strong financial profiles. ✅ Tip: If you’ve paid off debts, improved your credit score, or increased your savings, refinancing could work in your favour. 3. You Want to Consolidate High-Interest Debt Carrying high-interest debt from credit cards, personal loans, or lines of credit? Refinancing can help consolidate those debts into your mortgage at a much lower interest rate. This can make monthly payments more manageable and reduce the overall cost of borrowing. ✅ Tip: Make sure the savings from refinancing outweigh any prepayment penalties or fees. 4. You Need to Free Up Cash for a Major Expense Many Canadians refinance to access their home’s equity for renovations, education costs, or major life expenses. With home values rising in many areas, a refinance could help you tap into that value while still keeping manageable payments. ✅ Tip: Consider a home equity line of credit (HELOC) if you need flexible access to funds. 5. Your Mortgage Term is Ending, and You Want Better Terms If your mortgage is up for renewal, it’s the perfect time to explore refinancing options. Instead of simply accepting your lender’s renewal offer, compare rates and terms to see if you can get a better deal elsewhere. ✅ Tip: A mortgage broker can help you shop around and negotiate better terms on your behalf. Is Refinancing Right for You? Refinancing isn’t always the best move—there can be penalties for breaking your current mortgage, and not all savings are worth the switch. However, if you relate to any of the five signs above, it’s worth discussing your options with a mortgage professional. Thinking about refinancing? Let’s chat and find the best option for you!

Fixed-Rate or Variable-Rate Mortgage?

By Matthew Chan • February 26, 2025

If you're looking to buy a new property, refinance, or renew an existing mortgage, chances are, you're considering either a fixed or variable rate mortgage. Figuring out which one is the best is entirely up to you! So here's some information to help you along the way. Firstly, let's talk about the fixed-rate mortgage as this is most common and most heavily endorsed by the banks. With a fixed-rate mortgage, your interest rate is "fixed" for a certain term, anywhere from 6 months to 10 years, with the typical term being five years. If market rates fluctuate anytime after you sign on the dotted line, your mortgage rate won't change. You're a rock; your rate is set in stone. Typically a fixed-rate mortgage has a higher rate than a variable. Alternatively, a variable rate is not set in stone; instead, it fluctuates with the market. The variable rate is a component (either plus or minus) to the prime rate. So if the prime rate (set by the government and banks) is 2.45% and the current variable rate is Prime minus .45%, your effective rate would be 2%. If three months after you sign your mortgage documents, the prime rate goes up by .25%, your rate would then move to 2.25%. Typically, variable rates come with a five-year term, although some lenders allow you to go with a shorter term. At first glance, the fixed-rate mortgage seems to be the safe bet, while the variable-rate mortgage appears to be the wild card. However, this might not be the case. Here's the problem, what this doesn't account for is the fact that a fixed-rate mortgage and a variable-rate mortgage have two very different ways of calculating the penalty should you need to break your mortgage. If you decide to break your variable rate mortgage, regardless of how much you have left on your term, you will end up owing three months interest, which works out to roughly two to two and a half payments. Easy to calculate and not that bad. With a fixed-rate mortgage, you will pay the greater of either three months interest or what is called an interest rate differential (IRD) penalty. As every lender calculates their IRD penalty differently, and that calculation is based on market fluctuations, the contract rate at the time you signed your mortgage, the discount they provided you at that time, and the remaining time left on your term, there is no way to guess what that penalty will be. However, with that said, if you end up paying an IRD, it won't be pleasant. If you've ever heard horror stories of banks charging outrageous penalties to break a mortgage, this is an interest rate differential. It's not uncommon to see penalties of 10x the amount for a fixed-rate mortgage compared to a variable-rate mortgage or up to 4.5% of the outstanding mortgage balance. So here's a simple comparison. A fixed-rate mortgage has a higher initial payment than a variable-rate mortgage but remains stable throughout your term. The penalty for breaking a fixed-rate mortgage is unpredictable and can be upwards of 4.5% of the outstanding mortgage balance. A variable-rate mortgage has a lower initial payment than a fixed-rate mortgage but fluctuates with prime throughout your term. The penalty for breaking a variable-rate mortgage is predictable at 3 months interest which equals roughly two and a half payments. The goal of any mortgage should be to pay the least amount of money back to the lender. This is called lowering your overall cost of borrowing. While a fixed-rate mortgage provides you with a more stable payment, the variable rate does a better job of accommodating when "life happens." If you’ve got questions, connect anytime. It would be a pleasure to work through the options together.