Trusted Tips and Resources

Trusted Tips & Resources

Trusted Regina REALTOR® James Wruth Discusses Rising Interest Rates & The Effects on The Market

James Wruth is one of Regina’s most trusted and top-selling Realtors. A member of RE/MAX Crown Real Estate since 2006, James works with families, individuals, investors, and developers in the purchase and sale of residential properties. Since 2006, James has been a consistent Top Producing Realtor, and he has been awarded numerous prestigious distinctions including RE/MAX 100% Club distinction, Platinum Sales Award, and Remax Hall of Fame induction. James Wruth is a Trusted Regina Real Estate expert.

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, 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, James will be an expert at your side. 

Congratulation to Al Schick Construction on Celebrating Their 20th Anniversary


CONGRATULATIONS, AL SCHICK CONSTRUCTION - CELEBRATING 20 YEARS OF TRUSTWORTHY BUSINESS PRACTICES IN REGINA 

This latest article celebrates and recognizes Al Schick Construction, Trusted Regina Contractor, and Regina residential renovation pros. as they celebrate 20 years in business! 

'A Regina General Contractor You Can Trust

AL SCHICK CONSTRUCTION CELEBRATES 20 YEARS!  


Congratulations to Al Schick Construction on celebrating 20 years!  The business has been operating since 2003, and he runs a well-established local family-owned and operated Trusted Regina renovation company. Led by Al Schick, who has extensive experience in renovations and project management, the company has built a stellar reputation in Regina.




A HISTORY OF EXCELLENCE AS STANDARD


Al Schick's expertise in construction has been passed down to his son, Les Schick, who has been involved in the business since his teenage years. This family connection ensures a strong commitment to quality workmanship and customer satisfaction.


One of the distinguishing features of Al & Les Schick is their personalized approach to each client. Unlike larger companies, they take the time to get to know their customers personally and prioritize their wants and needs. They aim to bring their client’s visions to life and provide personable, friendly, trustworthy, and professional service.


I would like to thank all of my current and past customers for their business and support, which enabled us to remain in business for 20 years and counting. I would also like to thank my team of past and current employees, including my son Les, for their hard work and attention to detail, because without good people, you can’t do good work. “ Al Schick

The company specializes in various residential and commercial projects in Regina, including interior and exterior renovations. They handle everything from office renovations to large full-scale renos and additions. Whether planning a project for your home or business, requiring insurance work, or needing professional project management services, Al Schick Construction is dedicated to delivering top-notch results.


Their clients say it best!

 “Al is first class all the way! We had a basement renovation completed by Al and an extremely complicated garage added to our home. I would give a 10 out of 10 rating on every aspect of his integrity and workmanship. I have sent many friends to Al and will continue to do so. If I ever need work done in the future, I will pick up the phone, call Al and never even question his bill. I truly do Trust him to do a great job” -Bob R.


A word from Trusted Sara about her personal experience with Al Schick Construction.


" I was told about Al Schick within weeks of arriving in Regina and looking for good, trustworthy contractors. He was quite hard to track down initially,  as he had no website or social media, I eventually got his card from another client in the home building industry and gave him a call. He was friendly on the phone and seemed intrigued about the concept. He agreed to meet me for coffee to learn more but did warn me that he doesn't advertise. Our meeting went really well, he struck me as a warm, humble and friendly man who clearly cares about his customers. He talked about how important it was to him that his customers were happy with the work that was done, and how he was lucky to be doing what he loved for a living. To this day I am grateful that the only place he ever advertised is Trusted Regina, and that he extended his trust to me, he is a perfect example of the kind of businesses I love working with and promoting. In 2022 I met Les Schick for the first time. We met lots and worked together on website content, so I got to know him well which has been great. Les is a chip off the old block and it is great to see a long-term succession plan in place. Regina is lucky to have such a wonderful family construction business as an option, and I can't recommend Al Schick Construction highly enough.    - Sara Wheelwright, Trusted Regina founder.  

With their years of experience, dedication to quality, and trusted reputation, Al Schick Construction is a Regina general contractor you can trust. Congratulations, Al & Les, once again, on reaching this significant milestone!



Thank you for TRUSTING us, Al and Les. You have provided ten years of AMAZING service to the people of Regina & area as a Trusted Regina Partner in Regina Contractors and Regina Renovations categories. We are proud to support Al Schick Construction, and we are thrilled to share that they have diligently upheld the 5 TRUSTED GUARANTEES of service and NEVER had a complaint. 




How to Get a Fair Appraisal on Your Vehicle By Trusted Regina Insurance Provider Campbell & Haliburton

Trusted Regina Insurance experts at Campbell and Haliburton Insurance Inc have been in the community for over 50 years. They know it is customer service and knowledge that counts when you are in need of an insurance company in Regina. Campbell & Haliburton Insurance, myCH.ca, dedicated insurance brokers in Regina, can assist you with finding the plan that works best for you. In their latest Campbell & Halliburton Regina insurance tip, they review how to get a fair appraisal on your vehicle. 



If you’re trying to get a fair appraisal on a vehicle in the Regina area that has been in an accident, it’s important to understand the guidelines set forth by Saskatchewan Government Insurance (SGI). Here are some tips to help you get a fair appraisal:

Get a pre-appraisal inspection:

Before taking your vehicle to an appraiser, consider getting a pre-appraisal inspection. This will give you an idea of the extent of the damage and what repairs will need to be done. You can use this information to negotiate with the appraiser if you feel that their appraisal is unfair.


Choose a reputable appraiser:

Look for an appraiser who is licensed and has experience in assessing vehicles that have been in accidents. Check their references and ask for examples of previous appraisals they have done.


Provide all necessary documentation:

Make sure you provide the appraiser with all the documentation they need, such as the accident report, repair receipts, and any other relevant documents. This will help them to accurately assess the value of your vehicle.


Be honest about the damage:

Be honest about the extent of the damage to your vehicle. Trying to hide or downplay the damage will only hurt your chances of getting a fair appraisal.


Understand the appraisal process:

Familiarize yourself with the appraisal process so you know what to expect. The appraiser will typically inspect your vehicle, assess the damage, and compare it to the market value of similar vehicles in your area.


Negotiate, if necessary:

If you feel that the appraiser’s assessment is unfair, don’t be afraid to negotiate. Provide any additional information you have that may affect the value of your vehicle and be willing to compromise.


Know your rights:

If you’re not satisfied with the appraisal, you have the right to appeal the decision. Contact SGI for more information on how to file an appeal.

In conclusion, getting a fair appraisal on a vehicle that has been in an accident requires preparation, honesty, and understanding of the appraisal process. By following these tips and working with a reputable appraiser, you can ensure that you receive a fair value for your vehicle. Talk to one of our Trusted Regina Insurance Agents at Campbell & Haliburton we have your best interests in mind when it comes to explaining how to get a fair appraisal on your vehicle.

Our Trusted Regina Insurance Agents at Campbell & Haliburton have your best interests and safety in mind and our commitment to customer service is one of the pillars of our business. They know insurance inside and out, so please get in touch with them for all of your insurance needs and they will be more than happy to help ensure what you value most is protected.
**This is a general overview. There are many different insurance companies, and there are always differences in insurance policies. For specific details on your policy and coverage, we recommend that you contact your agent or broker.

CONGRATULATIONS MacKay & McLean Barristers & Solicitors On Celebrating 10 years as a Trusted Regina Law firm

CONGRATULATIONS, MACKAY & MCLEAN, ON 10 YEARS OF TRUSTWORTHY BUSINESS PRACTICES IN REGINA 

TRUSTED REGINA RECOGNIZES OUR PARTNERS WHO HAVE BEEN TRUSTED FOR OVER 10 YEARS!


In this series of recognition articles, we continue to spotlight the businesses that have been Trusted Regina Partners for over ten years. Currently, we are recognizing Partners that joined the Trusted Regina community in 2012. We want to thank them for TRUSTING our team, and we are identifying each of them individually for providing ten years of OUTSTANDING service to the citizens of Regina and the surrounding area! This latest article celebrates and recognizes MACKAY & MCLEAN Barristers & Solicitors, Trusted Regina Lawyers.


MacKay & McLean Barristers & Solicitors


MacKay & McLean started in 1976 when Sterling McLean and David MacKay combined their service in a downtown Regina office on Cornwall Street. Robert MacKayafter working there as a legal assistant in the late 80s and early 90s, then as an associate lawyer after passing the bar in 1996 made partner in 2001.

Being an “all purpose” practice, everything from personal injury and civil litigation to criminal defenses and corporate legalese; real estate, wills, estates and family matters became the preferred areas of law the firm practiced in.  

Real Estate was considered a happier form of law to deal in. Helping people acquire homes, advising on financing options and how to reduce debt, all to assist in helping families achieve their goals.  

With wills and estates it was the duty of the lawyer to take an often awkward and sad occasion and make it easier on those planning for when they are gone or helping those that were left to deal with the wake of things past.

The culture of the family office at MacKay & McLean has guided them to become a bigger part of the community. Lawyers join the firm who also wish to be a benefit to the community.

Their support staff made up of legal assistants and paralegals accumulated through the years have been trained to not only create documents and assist in the execution of documents but are capable of answering most day to day questions regarding the process and timing of operation regarding the files they are assigned.  

It is through their supervised efforts that help make the clients experience as swift and satisfying as possible.  If language is a barrier in assisting our clients we have a stable of interpreters capable of removing confusion from the issues.

Moving forward, a large concern of theirs is the recent direction the courts have taken in an effort to increase the accessibility of regular folks' access justice. Unfortunately this is a daunting task and the efforts, at times seem pointless. The court system is expensive and cost-prohibitive to many. The changes in the legal system have led to complicated and time consuming hurdles. Mandatory mediation, judicial case conferences and pre-trials created to lessen the burden on the court’s docket, have instead led to half day meetings with lawyers and clients awaiting their turn, adding to the billable hours a client must deal with. This in itself makes an action less likely to be dealt with. If someone owes you $2,000, it is not likely you will spend $3,000 to deal with it.

This all may lead to the legal profession taking it on the chin and leave people believing that lawyers are not one of them. Being a part of the community helps lawyers keep a pulse on what is important to their clients.  Regardless of the type of law you are venturing into, be it real estate, criminal or litigious actions, the courts often take into consideration the public at large and the effects that decisions create on a population bound by them.

MacKay & McLean appreciate the importance of community and try to contribute in various ways when possible. Each lawyer and firm has their own persona and with that comes different goals. Theirs is to do things that are right. Let them help find people financing and homes. Let’s help keep people safe and when they are injured, help them get the compensation they need to get back to where they once were.

Joining service groups, municipal clubs and organizations are not just tools to help create business. Instead they are a means of joining the community. Sharing their concerns and hopes, while working on a common goal usually leads to an orderly success however the money charged by the firms to these groups often does not cover the cost of doing business. This is not done solely with the hope to work for them again in the future, but because they and their firms exist in the community.

They may work on a contingency or even pro-bono for the right client, especially if the case pertains to principles that are dear to them and their own ideologies. If a freedom of speech or discrimination file comes to light, often a lawyer will become the face of the case only to be forgotten once the matter is settled. They took it on, not for fame nor for fortune, instead it was taken on because it was thought to be both worthy and right.

Honesty and integrity is a very large part of being a successful lawyer. Clients go to them because they feel they can trust them, and they can. Often we hear how lawyers are akin to overzealous hucksters and confident men. Few realize that a lawyer’s actions are both insured and guaranteed by the law society. Governed by peers who all share the same public thoughts and armed with the powers of suspension, disbarment and oversight, the law society helps protect the reputation of the system and the community at large.

MacKay and McLean is proud of their  culture and maintaining a family atmosphere while offering our services directly to the community. Doing so effectively has led them to expand, hire more lawyers and staff and create a name that helps all of our clients navigate a complex system without losing their shirts.


What MacKay & McClean Clients Say…

"Mr. D. MacKay is a lawyer with ethics and integrity, making him a bit rare in the field! He's always more interested in giving good advice then in taking your money!" - James Turner
"Robert MacKay and Alina have done a couple transactions for me. They are down to earth at the same time as being professional. Very pleased with the work and definitely recommend!" - Randy Knapp
"Lawyers you can TRUST! Robert MacKay and the team are amazing to deal with - outstanding service and advice!" - Sara Wheelwright


Thank you to the  MacKay & McLean team for TRUSTING us ! You have provided over ten years of AMAZING service to the people of Regina & area as Trusted Regina lawyers. We are proud to support you and share that they have diligently upheld the 5 TRUSTED GUARANTEES of service and have never received a complaint about them!

Trusted Regina Wheatland Fireplace, Kitchen & Bath Discuss How To Customize Your Outdoor Kitchen

Your first step into the beautiful Wheatland Fireplace Kitchen & Bath Regina showroom will help you understand why Wheatland has been given the Thumbs up by Trusted Regina. Wheatland loves their customers and as a result, their customers love and TRUST them. In their latest outdoor living tip, they explain how to customize your outdoor kitchen.



How To Customize Your Outdoor Kitchen

Custom outdoor kitchens are in high demand because they add value to the home, are great for entertaining, and expands your property’s living space. Let’s explore the most important factors to consider when customizing your own unique outdoor dream kitchen.

Define the Space

Just as homes come in many shapes and sizes, the same is true for outdoor kitchens. A few common kitchen shapes are L-shaped, linear, and even U-Shaped kitchens. Another popular option is a two-piece kitchen, where there’s a section for cooking, storage, and accessories. The other section usually features a bar and is used for dining and entertaining. Which layout sounds most suitable for your outdoor area?

It’s important to consider placement when you are incorporating a custom kitchen into your space. Here are a few things you’ll need to think about when turning your outdoor dream into a reality:

1. Proximity
One crucial aspect of where you decide to place your kitchen is how far away it is from your home. Since some of the food preparation will need to be done inside, you’ll want to place your kitchen in close distance with the entrance of your backyard. This will allow for hassle-free transportation between the two locations.

2. Backyard Size
The size of your backyard should factor in to how large you build your outdoor kitchen. Take some time to strategize how much square footage you’re willing to give up for your custom kitchen design. The size you want your kitchen to be is completely up to you.  

3. Zoning Laws
Be sure to check with local and national ordinances when determining the size and placement of your outdoor dining area. Zoning laws are in place to regulate how your property can be used. It’d be a shame to finalize a beautiful outdoor kitchen project that might not satisfy local codes and regulations.

Pro tip: Find a professional. There are many technical factors to consider when building an outdoor kitchen, such as heat clearances, electrical accessibility, and zoning laws, so finding the right person for the job will aid in creating a safe and fully optimized outdoor entertainment area.


Prioritize Your Accessories

When it comes to indoor cooking and dining, what’s most important to you? Perhaps it’s the shimmering, stainless-steel appliances or plentiful amount of pantry space. Some homeowners really value a kitchen island with a bar for entertaining guests and countertop space with added storage.

Since an outdoor kitchen brings all that you love about your indoor kitchen outdoors, we recommend reflecting on what’s most important to you as you customize this new area. Here’s a quick list of grills, storage units, and other accessories commonly used in outdoor kitchen designs:
  • Drawers and access doors for storage and trash
  • Charcoal, gas, and electric grills for cooking
  • Sink with faucet for cleaning
  • Refrigerator for beverages

Explore What’s Popular

Once you’ve built the framework for your outdoor kitchen, the next step is deciding the kind of look you want for the exterior finish. Homeowners commonly use the same materials on their home for the exterior of their outdoor kitchen for a clean, unifying look. Other popular materials used for the base are stucco, brick, or stone veneer, also known as stacked stone. Supercast™ concrete and granite are suitable options for the countertop section of outdoor kitchens.

Many backyards also incorporate some kind of shading, such as a gazebo, awning, pergola, or umbrella, to further define the outdoor kitchen area and fend off a bright and scorching sun. These sources of shade can be outfitted with outdoor lighting to make kitchens an all-day, one-stop-shop for relaxation and entertaining.


Wheatland Fireplace, Kitchen & Bath are successful for a reason! This really is where your outdoor living and indoor fireplace, bathroom & kitchen dreams meet in spectacular surroundings! Wheatland services and installs high-quality fireplaces. Visit their website or stop by their showroom to feel the warmth and comfort of their amazing selection.

Check out their listing hereWheatland Fireplace Kitchen & Bath is a Trusted Regina Outdoor Living store and much much more!


"Better Living Begins Here... At Wheatland, it is ALL ABOUT YOU!"

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