Canada’s Economy Edges Into A Technical Recession For the First Time Since 2020

Statistics Canada reported this morning that the Canadian economy contracted slightly, by 0.1%, at a seasonally adjusted annual rate in the first quarter (Q1) of 2026. That follows a 1% contraction in the fourth quarter, a downward revision from the previously reported 0.6% decrease.

Higher imports of goods, particularly gold, were offset by accumulations of business inventories. Decreased business and government capital investment was offset by higher household spending, as final domestic demand edged down 0.1%.

On a per capita basis, real GDP increased 0.2% in the first quarter of 2026, as the population declined for a second consecutive quarter and GDP remained unchanged.

The surprise decline in the first quarter stands in contrast with forecasters’ expectations. Economists surveyed by Bloomberg were anticipating a 1.5% annualized increase in the first quarter, aligning with the Bank of Canada’s projection.

The last time Canada recorded two consecutive quarters of negative growth was in 2020 during the COVID-19 pandemic. Before that, it was in 2015 amid low oil prices.
The loonie fell to a session low after the report, trading at C$1.3822 per US dollar as of 8:58 a.m. in Ottawa. Canadian government bond yields dipped to a daily low, extending outperformance versus Treasuries, with the two-year benchmark falling 5 basis points to 2.792%.

The weaker-than-expected GDP data coincides with a looser job market, painting a softer picture of the Canadian economy as US tariffs continue to squeeze some businesses.

Bottom Line

The weaker-than-expected economic activity comes amid sustained political pressure on affordability, driven by a spike in oil prices stemming from the closure of the Strait of Hormuz following the war in Iran. With April inflation data for Canada coming in softer than expected, the Bank is likely on hold for the time being.

A flash estimate for industry-based data in April suggests the economy bounced back with 0.4% growth, driven by increases in mining, quarrying, and oil and gas extraction, as well as in manufacturing, transportation, and warehousing. That followed a 0.1% decline in March.

In direct contrast to the US, Canadian business capital investment in the first quarter posted a fifth consecutive decline, shrinking 3% on an annualized basis, driven by lower spending on engineering structures. In the US, business capital spending is booming, driven by AI-related data centre expenditures.

Business investment in residential structures fell 2.0% in Q1 of this year, following a 2.4% decline in the fourth quarter of 2025. The first-quarter decline was led by continued weakness in resale housing activity (termed “ownership transfer costs”), which fell 9.9% in the first quarter of 2026, following a 3.4% decline in 2025 overall. In the first quarter of 2026, new residential construction edged down 0.1%, led by decreased absorptions (the indicator for sales) of completed units, while work put in place for row homes and apartments increased.

Government capital investment also shrank 9.6% annualized after a sharp increase in weapons-system spending in the fourth quarter. StatCan noted that despite this decrease, the $8.3 billion outlay on weapons systems in the first quarter was still well above the average quarterly spending recorded since 1981.

Household spending increased 1.5% annualized in the first quarter, led by higher spending on financial services. However, the report noted Canadians pulled back on travel and vehicle purchases.

The household saving rate slowed to 3.5%, its lowest level since the first quarter of 2024, as spending rose faster than income.

Meanwhile, corporate income rose for a third consecutive quarter, up 1.6% on a quarterly basis, helping to explain the continued appreciation in stock markets.

Imports surged 12% on an annualized basis, reflecting gold shipments that were offset by accumulations of business inventories.

Exports fell 0.5%, led by a decline in passenger cars and light trucks, which US tariffs have battered. Meanwhile, higher shipments of crude oil and crude bitumen, as well as natural gas, offset much of that decline.

Finally domestic demand fell 0.4%, following a 2.7% increase in the previous quarter.

All in, I expect the Bank of Canada to remain on hold at the June 10th announcement meeting. Next Friday, we will see the May employment report, which is likely to remain tepid, prompting the Governing Council to hold the overnight rate steady at 2.25% for the fourth consecutive time, choosing to look through the short-term impact of higher oil prices on inflation while monitoring softer economic conditions.

Dr. Sherry Cooper
Chief Economist, Dominion Lending Centres
drsherrycooper@dominionlending.ca

Angela Calla is a mortgage renewal and debt elimination expert with over 20 years of industry experience. She is also a multi-award-winning mortgage professional. Since beginning as a mortgage broker in 2004, Angela has helped thousands of Canadians optimize their mortgage strategies, eliminate debt, and build wealth through real estate.

She is the best-selling author of The Mortgage Code, which equips readers with the tools to make informed financial decisions. Additionally, she is the host of Canada’s longest-running finance radio show on CKNW, where she simplifies mortgage advice and empowers listeners to take control of their financial futures.

Angela has been recognized as Business Leader of the Year (2020) by the Tri-Cities Chamber of Commerce and Entrepreneur of the Year (2019) by the City of Port Coquitlam. She is also a sought-after speaker and educator, delivering accredited training for real estate boards across Greater Vancouver.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog.

As someone who has spent more than two decades helping Canadians build wealth through homeownership, I pay close attention to decisions that impact property rights, housing, lending, and consumer confidence.

Today’s Supreme Court of Canada decision provides important clarity regarding Aboriginal title and privately owned land. The Court has upheld a lower court ruling that Aboriginal title cannot be declared over privately owned land, reinforcing a principle that underpins Canada’s housing market, lending system, and broader economy.

This decision is particularly relevant given recent public discussion surrounding the Cowichan Tribes land title ruling in British Columbia, which generated questions and concerns among some homeowners about the security of private property rights.

While legal matters involving Indigenous rights and land claims remain complex and deserve thoughtful consideration, today’s ruling provides reassurance that private property ownership remains a fundamental component of Canada’s legal and economic framework.

For homeowners, investors, and families planning their financial future, certainty and confidence matter. Stable property rights support everything from homeownership and mortgages to retirement planning, investment decisions, and economic growth.

As always, I encourage people to seek information from credible sources and be cautious of misinformation circulating on social media, particularly on topics that can create unnecessary fear or confusion.

Knowledge creates confidence, and confidence creates better financial decisions.

Read the full article HERE

Angela Calla is a mortgage renewal and debt elimination expert with over 20 years of industry experience. She is also a multi-award-winning mortgage professional. Since beginning as a mortgage broker in 2004, Angela has helped thousands of Canadians optimize their mortgage strategies, eliminate debt, and build wealth through real estate.

She is the best-selling author of The Mortgage Code, which equips readers with the tools to make informed financial decisions. Additionally, she is the host of Canada’s longest-running finance radio show on CKNW, where she simplifies mortgage advice and empowers listeners to take control of their financial futures.

Angela has been recognized as Business Leader of the Year (2020) by the Tri-Cities Chamber of Commerce and Entrepreneur of the Year (2019) by the City of Port Coquitlam. She is also a sought-after speaker and educator, delivering accredited training for real estate boards across Greater Vancouver.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog.

Weak Jobs Report in April drives Unemployment Rate Up to 6.9%   Employment in Canada edged down by 17,700 in April, following a 14,000 gain in the prior month, missing the consensus forecast for a 15,000 increase. On a year-over-year basis, employment in April was up by 67,000 (+0.3%), but recorded a net decline of 112,000 (-0.5%) over the first four months of 2026. The result marked a second straight month of limited movement after February’s sharp 84,000-job decline. Full-time employment fell by 47,000, while part-time positions increased by 29,000. Employment levels were broadly unchanged across the private and public sectors and among self-employed workers. Employment varied little across major age groups in April. The unemployment rate rose among youth aged 15 to 24 to 14.3% and among core-aged men to 6.1%. Regionally, employment declined in Quebec, Newfoundland and Labrador, Saskatchewan, and New Brunswick, while Ontario added 42,000 jobs. Meanwhile, the employment rate slipped 0.1 percentage points to 60.5%. Average hourly wages among employees were up 4.5% (+$1.64 to $37.77) on a year-over-year basis in April, following growth of 4.7% in March (not seasonally adjusted).   In April, the unemployment rate rose 0.2 percentage points to 6.9%, as more people searched for work (+51,000; +3.4%). The unemployment rate has increased 0.4 percentage points since January 2026, but remained below the recent peak of 7.1% observed in August and September of 2025. On a year-over-year basis, the unemployment rate was virtually unchanged in April 2026. The proportion of unemployed people who had been continuously searching for work for 27 weeks or more—considered long-term unemployment—was 22.5% in April. This proportion was little changed both in the month and compared with 12 months earlier. However, it remained significantly above the pre-COVID-19 pandemic average of 17.1% observed from 2017 to 2019. At the same time, the monthly layoff rate (0.6%) in April remained in line with the pre-pandemic average, showing no recent elevation (not seasonally adjusted).   The participation rate—the proportion of the population aged 15 and older who were employed or looking for work—rose by 0.1 percentage points to 65.0% in April as more people were in the labour force searching for work. The increase was concentrated among core-aged people, whose labour force participation rate rose 0.3 percentage points to 88.5%. On a year-over-year basis, the overall labour force participation rate was down 0.3 percentage points in April. This largely reflected population aging, which has put downward pressure on the labour supply as more individuals have entered retirement. Among core-aged people, the labour force participation rate was up 0.3 percentage points year over year, while for youth aged 15 to 24, it was little changed. On a month-over-month basis, employment decreases in April were concentrated in information, culture and recreation (-25,000; -2.8%), construction (-16,000; -1.0%), and in ‘other services’ (-13,000; -1.6%), an industry which includes repair and maintenance as well as personal services. Employment change by industry, April 2026   On the other hand, employment increased in business, building and other support services (+22,000; +3.2%), health care and social assistance (+18,000; +0.6%) and in accommodation and food services (+13,000; +1.1%). On a year-over-year basis, employment was little changed across most industries in April, with the notable exception of health care and social assistance, which was up 119,000 (+4.1%) over the period. The cumulative decline in employment since January comes as US tariffs continue to loom over businesses and the war in Iran heightens global uncertainty, two forces expected to shape the Canadian economy this year. With the 50% rise in oil prices, demand destruction is already well underway. Another important fundamental in the labour market is the rapid development of AI, which is already causing enormous layoffs, especially in the U.S. See the chart below.   Bottom Line In other news, the US employment report was also released this morning, showing the strongest two-month gain since 2024. US employers added more jobs than expected for a second month, and the unemployment rate held steady in April, indicating the labour market is holding up despite rising energy costs sparked by the war in Iran. Nonfarm payrolls rose 115,000 last month after an even bigger surge in March, marking the strongest two-month increase since 2024, according to Bureau of Labour Statistics data out Friday. The unemployment rate was unchanged at 4.3%. The report showcases a labour market that may be gaining momentum after near-zero job growth last year. It showed hiring advanced across a variety of sectors, and follows other data indicating layoff activity remains low. The relative weakness of the Canadian labour market will discourage the Bank of Canada from tightening monetary policy too soon. To be sure, inflation remains a risk as higher energy costs become embedded in the price of a wide array of goods and services. The Bank will be reluctant to respond with rate hikes over the next few announcement dates. Trade negotiations will accelerate in the coming months as the future of CUSMA is determined. It is hard to imagine the Bank of Canada tightening in the face of such a weak housing market.   Dr. Sherry Cooper Chief Economist, Dominion Lending Centres drsherrycooper@dominionlending.ca

Angela Calla is a mortgage renewal and debt elimination expert with over 20 years of industry experience. She is also a multi-award-winning mortgage professional. Since beginning as a mortgage broker in 2004, Angela has helped thousands of Canadians optimize their mortgage strategies, eliminate debt, and build wealth through real estate.

She is the best-selling author of The Mortgage Code, which equips readers with the tools to make informed financial decisions. Additionally, she is the host of Canada’s longest-running finance radio show on CKNW, where she simplifies mortgage advice and empowers listeners to take control of their financial futures.

Angela has been recognized as Business Leader of the Year (2020) by the Tri-Cities Chamber of Commerce and Entrepreneur of the Year (2019) by the City of Port Coquitlam. She is also a sought-after speaker and educator, delivering accredited training for real estate boards across Greater Vancouver.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog.

Angela Calla is a mortgage renewal and debt elimination expert with over 20 years of industry experience. She is also a multi-award-winning mortgage professional. Since beginning as a mortgage broker in 2004, Angela has helped thousands of Canadians optimize their mortgage strategies, eliminate debt, and build wealth through real estate.

She is the best-selling author of The Mortgage Code, which equips readers with the tools to make informed financial decisions. Additionally, she is the host of Canada’s longest-running finance radio show on CKNW, where she simplifies mortgage advice and empowers listeners to take control of their financial futures.

Angela has been recognized as Business Leader of the Year (2020) by the Tri-Cities Chamber of Commerce and Entrepreneur of the Year (2019) by the City of Port Coquitlam. She is also a sought-after speaker and educator, delivering accredited training for real estate boards across Greater Vancouver.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog. 

The Bank of Canada announces its next rate decision tomorrow, and most economists currently expect rates to hold steady. However, what matters most is not just the headline—it’s how today’s market conditions affect your mortgage, buying power, and long-term financial plan.  Here is the link to see tomorrow’s announcement Bank of Canada or follow our social media accounts @angelacallamortgageteam. Right now, buyers are negotiating strong opportunities, and many homeowners are surprised to learn they may not need to wait until renewal to improve their situation. Most recently, we helped a family in Pitt Meadows restructure their mortgage early, improve cash flow by $1,000 per month, and position themselves to potentially retire 5 years sooner through better planning. Whether you are: • Buying a home • Renewing soon • Wondering if you should refinance early • Reviewing life insurance • Wanting a second opinion on your financial plan Now is the time to act. For mortgage consultations, use our booking link If you’d like a broader financial review outside the mortgage, simply reply with 3 days/times that work for you. We have direct access to our independent financial planning partners’ calendar and can coordinate an introduction for you. Don’t wait for the next announcement schedule for June 10th to wonder what you should have done today.

Angela Calla is a mortgage renewal and debt elimination expert with over 20 years of industry experience. She is also a multi-award-winning mortgage professional. Since beginning as a mortgage broker in 2004, Angela has helped thousands of Canadians optimize their mortgage strategies, eliminate debt, and build wealth through real estate.

She is the best-selling author of The Mortgage Code, which equips readers with the tools to make informed financial decisions. Additionally, she is the host of Canada’s longest-running finance radio show on CKNW, where she simplifies mortgage advice and empowers listeners to take control of their financial futures.

Angela has been recognized as Business Leader of the Year (2020) by the Tri-Cities Chamber of Commerce and Entrepreneur of the Year (2019) by the City of Port Coquitlam. She is also a sought-after speaker and educator, delivering accredited training for real estate boards across Greater Vancouver.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog. 

Angela Calla is a mortgage renewal and debt elimination expert with over 20 years of industry experience. She is also a multi-award-winning mortgage professional. Since beginning as a mortgage broker in 2004, Angela has helped thousands of Canadians optimize their mortgage strategies, eliminate debt, and build wealth through real estate.

She is the best-selling author of The Mortgage Code, which equips readers with the tools to make informed financial decisions. Additionally, she is the host of Canada’s longest-running finance radio show on CKNW, where she simplifies mortgage advice and empowers listeners to take control of their financial futures.

Angela has been recognized as Business Leader of the Year (2020) by the Tri-Cities Chamber of Commerce and Entrepreneur of the Year (2019) by the City of Port Coquitlam. She is also a sought-after speaker and educator, delivering accredited training for real estate boards across Greater Vancouver.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog. 

Angela Calla is a mortgage renewal and debt elimination expert with over 20 years of industry experience. She is also a multi-award-winning mortgage professional. Since beginning as a mortgage broker in 2004, Angela has helped thousands of Canadians optimize their mortgage strategies, eliminate debt, and build wealth through real estate.

She is the best-selling author of The Mortgage Code, which equips readers with the tools to make informed financial decisions. Additionally, she is the host of Canada’s longest-running finance radio show on CKNW, where she simplifies mortgage advice and empowers listeners to take control of their financial futures.

Angela has been recognized as Business Leader of the Year (2020) by the Tri-Cities Chamber of Commerce and Entrepreneur of the Year (2019) by the City of Port Coquitlam. She is also a sought-after speaker and educator, delivering accredited training for real estate boards across Greater Vancouver.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog. 

 

The Canadian Jobs Report Was Much Weaker Than Expected In February  Today’s Labour Force Survey showed considerable weakness last month, even before the Gulf War took hold of the global economy. Employment fell by 83,400 jobs after edging down in January (-25,000; -0.1%). This is the largest decline in employment in more than four years. On a year-over-year basis, employment was little changed in February 2026. In February, the employment rate—the proportion of the population aged 15 and older who are employed—fell by 0.2 percentage points to 60.6%, marking the second consecutive monthly decline. The employment rate in February was just above the recent low of 60.5% observed in August 2025 and was down 0.4 percentage points year over year. The number of people working full-time declined by 108,000 (-0.6%), offsetting growth recorded over the previous two months. At the same time, there was little variation in the number of people working part-time in February. The number of employees in the private sector fell by 73,000 (-0.5%) in February, the second consecutive monthly decline. These declines offset gains observed in October and November 2025. Compared with 12 months earlier, the number of private sector employees was virtually unchanged in February. The number of public sector employees and the number of self-employed workers were both little changed last month. The unemployment rate rose 0.2 percentage points to 6.7% in February, as employment fell and more people searched for work. The unemployment rate was virtually unchanged from 12 months earlier (6.6%) and remained below the recent high of 7.1% reached in August and September 2025. The participation rate—the proportion of the population aged 15 and older who were employed or looking for work—fell by 0.1 percentage points to 64.9% in February. It was down 0.4 percentage points year over year. The employment decline in February was spread across services-producing industries (-56,000; -0.3%) and goods-producing industries (-28,000; -0.7%). In services-producing industries, the largest decline was in wholesale and retail trade (-18,000; -0.6%). Employment in this industry has trended down since October 2025, with a cumulative decline of 52,000 (-1.7%) over this period. In goods-producing industries, employment edged down in February in construction (-12,000; -0.7%) and manufacturing (-9,200; -0.5%). On a year-over-year basis, employment was little changed in construction, while it was down by 52,000 (-2.8%) in manufacturing. Bottom Line Today’s employment report is stale news as the war in Iran, which began on February 28 with coordinated strikes by the US and Israel targeting Iranian nuclear and military infrastructure, has had profound effects on the global economy. Owing to the closure of the Straits of Hormuz, oil flows are down by roughly 20 million barrels. Even with the largest release ever from strategic petroleum reserves, oil prices remain near $100 a barrel, a dramatic uptick from just two weeks ago. Ordinarily, such economic weakness would trigger central bank easing, but the surge in energy prices will add to inflation, at least temporarily. Labour markets remain soft as the economy bears the weight of US tariffs and an upcoming CUSMA review looms over business. This is likely to complicate the Bank of Canada’s future monetary policy path. While the Bank might otherwise consider a rate cut to return growth and labour markets to healthier levels, the surge in oil prices is inflationary. The Bank of Canada’s sole mandate is to return inflation to its 2% target, while the Fed’s mandate is to control inflation while maximizing noninflationary growth. The energy shock, if persistent, could justify a rate hike. The BoC meets again next Wednesday, March 18, and markets and economists expect officials to hold the policy rate steady at 2.25%. The February CPI report for Canada will be released on Monday, but the February data are now ancient history, given the war. Meanwhile, hourly wages for full-time permanent employees rose 4.2% from a year ago, compared with 3.3% in January. Economists surveyed were expecting a 3.2% increase. Much depends upon how long the war will last. According to today’s Wall St. Journal, oil markets are “waking up to a new reality: Disruption to the Gulf’s prodigious energy supplies isn’t ending anytime soon.” Many analysts aver that crude could hit new multiyear highs if the conflict drags on. “Goldman Sachs this week raised its oil price forecasts, citing longer-than-expected disruption. Brent crude could average $145 in March and April in a more extreme scenario, it said. The bank now expects disruption to flows through the strait to last 21 days, up from its previous forecast of 10 days. Macquarie Group is now predicting that crude prices could top $150 if the strait remains closed for a few weeks. Others say oil prices could go even higher.” “One reason for the changing outlook is a surge in attacks on tankers near the strait. Over the past 24 hours, at least seven vessels were hit in waters off the coast of Dubai and Iraq. One of the ships, a foreign tanker carrying Iraqi fuel oil, was ablaze in Iraqi waters. US officials said that Iran has also started to litter the strait with sea mines that could give the country outsized power to wreak havoc with the global economy. “The war in the Middle East is creating the largest supply disruption in the history of the global oil market,” the International Energy Agency said Thursday as it slashed its forecast for oil-supply growth this year.

Article courtesy of Dr. Sherry Cooper, Chief Economist, DLC

Angela Calla is a mortgage renewal and debt elimination expert with over 20 years of industry experience. She is also a multi-award-winning mortgage professional. Since beginning as a mortgage broker in 2004, Angela has helped thousands of Canadians optimize their mortgage strategies, eliminate debt, and build wealth through real estate.

She is the best-selling author of The Mortgage Code, which equips readers with the tools to make informed financial decisions. Additionally, she is the host of Canada’s longest-running finance radio show on CKNW, where she simplifies mortgage advice and empowers listeners to take control of their financial futures.

Angela has been recognized as Business Leader of the Year (2020) by the Tri-Cities Chamber of Commerce and Entrepreneur of the Year (2019) by the City of Port Coquitlam. She is also a sought-after speaker and educator, delivering accredited training for real estate boards across Greater Vancouver.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog. 

 

What a night! On March 7, IMAGINE 2026 went out with a bang. We’re so proud to announce that we raised a record-breaking $280,000! These vital funds will support the Food Bank, our Early Years programming and the Foundry Tri-Cities—all graciously funded by you. A big thank you to our presenting sponsor, Wesbild, our fabulous MCs, all our sponsors, culinary partners, silent auction prize donors, street vendors, musicians, and you—our IMAGINE supporters. We also want to celebrate our SHARE staff and volunteers for their creativity, hours and dedication to a night to remember. A big congrats to our culinary award winners—Float 30, Matteo’s Gelato and Pasta Polo—and Joan C. of Port Moody for winning the 50/50 raffle. To learn more about this year’s Gala, click here.We’re deeply grateful for your generosity and spirit in making IMAGINE 2026 such a success. We hope you will join us at our 2027 IMAGINE on Saturday, March 6, 2027, as we continue this important work together. Why evenings like IMAGINE matters… Share Forward Click to see more photos from IMAGINE 2026.

 

 

Angela Calla is a mortgage renewal and debt elimination expert with over 20 years of industry experience. She is also a multi-award-winning mortgage professional. Since beginning as a mortgage broker in 2004, Angela has helped thousands of Canadians optimize their mortgage strategies, eliminate debt, and build wealth through real estate.

She is the best-selling author of The Mortgage Code, which equips readers with the tools to make informed financial decisions. Additionally, she is the host of Canada’s longest-running finance radio show on CKNW, where she simplifies mortgage advice and empowers listeners to take control of their financial futures.

Angela has been recognized as Business Leader of the Year (2020) by the Tri-Cities Chamber of Commerce and Entrepreneur of the Year (2019) by the City of Port Coquitlam. She is also a sought-after speaker and educator, delivering accredited training for real estate boards across Greater Vancouver.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog. 

Great news – the GST Rebate for First-Time Homebuyers has finally come into effect!! Announced last spring by the federal government, the bill received Royal Assent last week and eliminates “the Goods and Services Tax (GST) for first-time home buyers on new homes up to $1 million and reducing the GST for first-time home buyers on new homes between $1 million and $1.5 million.”  The Canada Revenue Agency will now be able to start processing rebate claims. Please note that the rebate will generally apply to agreements of purchase and sale entered into on or after March 20, 2025, and before 2031. If you have clients that were first time home buyers and purchased a new home under $1,500,000 between March 20, 2025, and today you should reach out and make sure they apply for the rebate.  We are combing through our files so that our clients are notified, but you should do the same, in particular if they did not use us. We will soon update our website to incorporate these latest changes and will notify you when done.  Stay tuned for further emails and as always, thanks for the support.   Article courtesy of Tony Spagnuolo of Spagnuolo LLP

Angela Calla is a mortgage renewal and debt elimination expert with over 20 years of industry experience. She is also a multi-award-winning mortgage professional. Since beginning as a mortgage broker in 2004, Angela has helped thousands of Canadians optimize their mortgage strategies, eliminate debt, and build wealth through real estate.

She is the best-selling author of The Mortgage Code, which equips readers with the tools to make informed financial decisions. Additionally, she is the host of Canada’s longest-running finance radio show on CKNW, where she simplifies mortgage advice and empowers listeners to take control of their financial futures.

Angela has been recognized as Business Leader of the Year (2020) by the Tri-Cities Chamber of Commerce and Entrepreneur of the Year (2019) by the City of Port Coquitlam. She is also a sought-after speaker and educator, delivering accredited training for real estate boards across Greater Vancouver.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog.