No Rate Hike Until March – BoC Assures Inflation Will Return To 2% Over 2023-24

General Angela Calla 31 Jan

Bank Will Hike Rates At Next Meeting

While markets were 70% certain the Bank would hike their overnight target rate today, we remained of the view that the Governing Council would hold off until March or April because of the slowdown in first-quarter growth arising from the Omicron restrictions. The Bank announced today that economic slack in the economy had been absorbed more rapidly than expected in late October when they last met. “Employment is above pre-pandemic levels, businesses are having a hard time filling job openings, and wage increases are picking up. Unevenness across sectors remains, the Governing Council judges the economy is now operating close to its full capacity.”

Consequently, the Bank now believes that emergency measures arising from the pandemic are no longer necessary. They clearly state that a rising path for interest rates will be required to moderate domestic spending growth and bring inflation back to target. Being mindful that the increasing spread of Omicron will dampen spending in the first quarter, they decided to keep the policy rate unchanged today and to signal that rates will rise going forward. “The timing and pace of those increases will be guided by the Bank’s commitment to achieving the 2% inflation target.”

Notably, the Bank also suggested that another vital policy measure to reduce demand and thereby control inflation is “quantitative tightening” (Q.T.), reducing the central bank’s holdings of Canadian government bonds on its balance sheet. This selling of bonds also raises interest rates. “The Bank will keep the holdings of Government of Canada bonds on our balance sheet roughly constant at least until we begin to raise the policy interest rate. At that time, we will consider exiting the reinvestment phase and reducing the size of our balance sheet by allowing maturing Government of Canada bonds to roll off. As we have done in the past, before implementing changes to our balance sheet management, we will provide more information on our plans.”

The Bank of Canada is very concerned about maintaining its hard-won inflation-fighting credibility. Remember that while Canadian inflation is at a 30-year high–as it is in the rest of the world–at 4.8%, Canadian inflation pales compared to the 7.0% rate in the U.S. and 6.8% rate in the U.K. (see chart below). It is also below the pace of the Euro area. The Bank stated that “CPI inflation remains well above the target range and core measures of inflation have edged up since October. Persistent supply constraints are feeding through to a broader range of goods prices and, combined with higher food and energy prices, are expected to keep CPI inflation close to 5% in the first half of 2022. As supply shortages diminish, inflation is expected to decline reasonably quickly to about 3% by the end of this year and gradually ease towards the target over the projection period. Near-term inflation expectations have moved up, but longer-run expectations remain anchored on the 2% target. The Bank will use its monetary policy tools to ensure that higher near-term inflation expectations do not become embedded in ongoing inflation.”

 

Bottom Line

It surprises me that economists in Canada would expect the Bank to hike interest rates during a Covid lockdown without properly measured signalling beforehand. Bay St’s hysteria about inflation seems to have muddied thinking. The Bank will be taking out the big guns to get inflation under control. Overnight rate hikes begin at the next policy meeting on March 2 and then Quantitative Tightening shortly after that. The downsizing of the Bank’s balance could have even more dramatic effects on the shape of the yield curve, hiking longer-term interest rates.

In today’s policy statement and Monetary Policy Report, the Bank emphasized the strength of the housing market and the impact on inflation of the more than 20% rise in Canadian house prices last year. The MPR suggests that housing market activity strengthened again in recent months, led by a rebound in existing home sales.”Low borrowing rates and high disposable incomes continue to contribute to elevated levels of housing activity in the first quarter. At the same time, other factors that support demand, such as population growth, are also now picking up.”

Traders continue to bet that the Bank of Canada will hike interest rates by 25 basis points five or six times this year. This would take the overnight rate from 0.25% to 1.5% to 1.75%. It was 1.75% in February of 2020 before the pandemic easing began. Markets also expect two more rate hikes in 2023, taking the overnight rate to 2.25%.

Volatility in financial markets has surged this year. The FOMC, the US policy-making body, announces its decision at 2 PM ET today. No rate hike is expected yet, but the Fed will undoubtedly commit to serious rate hikes and balance sheet contraction in the coming months.

You can read this article at Sherry Cooper Assoc.


Angela Calla is an 18-year award-winning woman of influence which sets her apart from the rest. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

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. 

rate

If You’re Considering Locking in Your Variable Mortgage

General Angela Calla 26 Jan

The Bank of Canada has made their announcement to keep interest rates the same today, but we fully expect them to increase later this year. For some, this may be an opportunity for locking in your mortgage.

With the current inflationary pressures, it’s very common to consider if you should lock in your variable rate mortgage. If rates go up and you presently have a variable rate mortgage, this means that the next month your payment will go up with most lenders.

With every 0.25 basis point increase, it’s $13/month per 100k in a mortgage. As an example, if you have a 300k mortgage, expect your payment to go up approx. $40/month

Please keep in mind if you do decide to lock into a fixed rate, we are presently seeing lock-in rates at approximately 3%. This means if you have a mortgage below 2% right now and you decide to lock in now, you are guaranteeing, approximately, an additional 1% in interest to the lender for the “security” of a fixed rate (which would take four increases from the Bank of Canada).

Over time, locking-in has proven not to be the most cost-effective, if, and only IF you have the peace of mind to continue on the path.

At least knowing how the numbers impact you will help you determine what is best for your family, as it is a personal decision.

Knowing what a balancing act the Bank of Canada has ahead, I am not rushing to lock in my variable rate mortgage, as every time I have has been met with regret. This is what experience has taught me in my 18 years of mortgage holding.

There is a saying “life is variable, so your mortgage should be too”, however, peaceful sleep at night can also be worth its weight in gold, knowing that fixed rates are below inflation.

Your first step should be to confirm with your lender directly what your lock-in rate would be, and then feel free to reach out to us! We can then determine if we should update our records or look at making a change to a new mortgage lender if there is a better option out there for you.

Here is a link to the Bank of Canada announcement as well as a link to download our DLC mortgage app to see how your payments could/would change.

Some common lenders contact information to see what lock-in options are:

First National
Portal: https://mymortgage.firstnational.ca/#/
Email address: https://mymortgage.firstnational.ca/#/, or customer.service@firstnational.ca
Phone number: 604-681-5300

Merix
Portal: https://merix.mymortgagedetails.com/
Email address: customerservice@merixfinancial.com
Phone number: 1-877-637-4914

DLC
Portal: https://www.paradigmquest.com/our-brands/dlc/contact-dominion
Email DLCmortgagesupport@paradigmquest.com
Phone number: 1-866-928-6810

RMG
Portal: https://www.rmgmortgages.ca/myrmg/login

Email: mortgagesupport@rmgmortgages.ca
Phone number: 1-866-809-5800

MCAP
Portal https://www.mcap.com/contact-us/residential-mortgages
Email: service@mcap.com
Phone number: 1-800-265-2624

Scotia
Phone number: 1-877-303-8879

TD
Phone number: 1-877-230-6275

HSBC
Phone number: 1-888-310-4722

If you are in a fixed-rate mortgage, creating a budget that counts for where rates are each year will help you avoid future payment/interest rate shock to position you best for your renewal. If you or a loved one needs some help, we are just a phone call or email away!


Angela Calla is an 18-year award-winning woman of influence which sets her apart from the rest. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

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. 

mortgage

Avoiding Payment Shock, Using Today’s Rates to Your Advantage

General Angela Calla 25 Jan

In this current ultra-low interest rate environment, I thought it would be a good time to remind those of you with variable-rate mortgages and balances on your lines of credit to take advantage of your current low payments NOW so that you can prepare for if or when rates begin to rise.

With rates being this low, you are likely savings tens, hundreds, or thousands of dollars right now! I often recommend taking a look at what you *could* be paying if you had a higher rate mortgage and then setting aside that difference each month into a savings account. That way, if or when rates start to rise, you will have a slush fund to draw from. If they don’t, you’ll have a nice savings cushion to either continue building upon or to use as a lump-sum prepayment to pay down your mortgage principal (don’t forget – those prepayment privileges are there for you to utilize!).

For example, let’s say you have a $500,000 mortgage balance right now with a 5-year variable rate of 1.50% and a 25-year amortization compared to an estimated 5-year fixed rate of 2.79%.

 

The monthly payments for each would be $1,999.68 and $2,312.68, respectively. If you set aside that $313 difference per month, you would have an extra $3,756 saved in one year, if rates remain the same. After a five-year mortgage term, that money saved equates to $18,780! Wrap that up into a one-time prepayment and you are knocking off one year and one month off your total mortgage.

 

After another few more years, that becomes a tremendous amount of equity that can be used to consolidate your debt or further invest in yourself and your family!

Hope this helps some of you! Have a great weekend! ☀️


Angela Calla is a 18-year award-winning woman of influence which sets her apart from the rest. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

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. 

mortgage

Bank of Canada Announcement – January 2022

General Angela Calla 24 Jan

The Bank of Canada has made their announcement today to keep interest rates the same. However, it is likely that the rate will increase in the next announcement in March and most certainly this year overall. This is largely in part because of the lower economic activity during the pandemic, we are still below pre-pandemic numbers. As well, the Bank of Canada noted in their announcement in December that they would not be moving the rate until April. So, it is likely their plan to move up the timeline to increase the rates in March.

Even should the interest rate go up, variable-rate mortgages have become a much larger part of the overall housing market. Currently, the lowest variable rate is the prime rate minus 1.1%, which equates to a net rate of 1.35%! For reference, a $500,000 mortgage with a 25-year amortization period would equal $1964. While a comparable fixed-rate is 1.5% higher, equivalent to six increases of 0.25% from the Bank of Canada, which has been the standard amount, historically. The payment on this standard fixed-rate with the same mortgage would be $2328. That’s a $364 difference!

Of course, a variable-rate mortgage is not for everyone and is best suited for households that can afford a little fluctuation in their payments. But being able to do so will net you big positives in the future. The quicker you can pay down your mortgage the better a variable-rate will work for you. Because once we start chipping away at the highest point of the mortgage, the less material it ultimately becomes when interest rates go up in four or five years’ time.

With Canada’s latest inflation rate at 4.8%, and paying less than 1% on your mortgage rate, this is the closest we’ve ever been to free money! So if you or a loved one wants to take advantage of these historic low rates and use them to build your wealth, please don’t hesitate to reach out to us!

If you would like to see how different interest rates affect your mortgage payment, check out our DLC app for a free mortgage calculator!


Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

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. 

bank of canada

Home Owner Grant Helps People with Property Taxes

General Angela Calla 13 Jan

B.C.’s Home Owner Grant threshold is set at $1.975 million for 2022, ensuring 92% of residential properties are covered by the grant that lowers the amount of property taxes people pay on their principal residence.

Homeowners in Metro Vancouver and the Fraser Valley and Capital Regional districts may be eligible for as much as $570 for the basic Home Owner Grant and as much as $845 for homeowners 65 or older and for people who have a disability or live with a relative who has a disability.

The grant for homeowners in northern or rural areas (outside Metro Vancouver and the Fraser Valley and Capital Regional districts) is as much as $770 or as much as $1,045 for seniors or people who have a disability.

The grant is reduced by $5 for every $1,000 of assessed value above the threshold. Low-income seniors, veterans and people with disabilities who lose some or all of their grant due to the high value of their homes can apply separately for a low-income grant supplement that can replace any grant amount lost due to the threshold.

The fastest and easiest way to apply for the Home Owner Grant is on the B.C. government website. In 2021, 92% of applications were made securely online or through interactive voice recognition. People can also check online for their application status. Homeowners with more complex situations can get help over the phone at 1 800 663-7867 or at a ServiceBC Centre.

The best time to apply for the grant is in May after people have received both their BC Assessment notice and their municipal property tax notice. Assessment roll and jurisdiction numbers are needed to apply.

Homeowners may also be eligible for property tax deferment if they are 55 or older or are financially supporting a dependent child.

You can read this article at BC Gov News.


Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

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. 

home

Improving Your Financial Decision

General Angela Calla 12 Jan

Make 2022 the year of finance by improving your financial direction from the start! Even if you are living paycheck-to-paycheck, a few changes to the way you spend and look at money can make all the difference. It’s never too late to start again and reverse course! Here are a few simple ideas to get you started:

  • Create a Budget: In order to stop living paycheck-to-paycheck, you need to know where that paycheck is going. Creating a budget is simple with Google
    docs, or look into other online tools and sites to get started.
  • Pretend You Earn Less Than You Do: Give yourself a cut in pay. The goal is to put 10% in savings from each paycheck into your savings account. The easiest way is to do an automatic direct transfer from your chequing account to your savings every pay period.
  • Pay Down Debt: If you have a lot of credit cards or unsecured debt, try paying the minimum on all but one of them and aggressively pay down that one card. Once it’s paid off, attack the next one. If you’re so deep in debt that you can’t fight your way out, consider consulting with myself or your local mortgage broker about your debt consolidation options and if your mortgage can be used to help you clean the state. They will be able to review your debt and possibly recommend a way to consolidate it into one simple payment with a single point of interest charges.
  • Build an Emergency Fund: Once you have your budget in place, review it and break it down into non-discretionary expenses (rent, groceries, utilities, etc.) and discretionary expenses (eating out, entertainment, clothes, etc.). See where you could cut down on discretionary spending and put that money towards your emergency fund. Even starting with just a little amount is great and helps you build the habit of saving.
  • Don’t Forget Your Future: Putting at least 3% of your paycheck into a retirement fund is a great idea, or maybe when you get your first raise instead of thinking of it as free money, simply put it into a fund and forget about it. You’ll be glad it’s there when you need it in the future.
  • Consider Downsizing: It may be time to consider a lifestyle change. Consider moving to a smaller place. Get rid of that cost of going to that expensive gym with a trip to the local park. Think about if you really need that brand new car or if a used one would work just as well.

This is from a newsletter from the Dominion Lending Centre


Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

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. 

finance

Time for an equity tax? Experts look for solutions to increasingly unaffordable housing

General Angela Calla 10 Jan

Home Equity Tax for homes over $1,000,000 as heard on CTV news – mark your calendar for February 22nd, when the budget comes out.

How will this play out as an effort to cool down our Real Estate Market? The first thing that my mind falls onto is my clients who are seniors and have owned their homes for some 50 years. Those who are already barely able to afford their property tax on their current pension, and with the increased cost of everything, see no reason to move. If this comes to fruition, they would be poised to pay the tax on home equity values over $1,000,000 or choose to sell. This doesn’t feel right, they didn’t initially pay $1,000,000 for their properties. But now, these clients must pay the price for a housing market they didn’t create.

To go even further, think about the younger families working hard, saving their money, combining households with family to be able to afford to move into a larger home for their growing families. This tax takes the money right out of their pockets. Then there’s everyone in-between who have earned their equity honestly by living in their homes, creating memories. These people are not the issue and yet are being affected.

Owning a home, you’ve earned the right and are entitled to every penny of your equity.  You work hard to protect and care for this investment over the years. There is nothing fair about taxing this money. People shouldn’t be punished because a small portion of homeowners chooses to cheat the system by house flipping.

You can read the full article at CTV News.


Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

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. 

Tax

CMP Women of Influence 2021

General Angela Calla 7 Jan

Every year at Canadian Mortgage Professionals (CMP), a list is released distinguishing the top women in the mortgage industry in Canada. For the Women of Influence 2021 list, we see Angela among the 82 women ultimately selected out of the total nomination pool of 340

Throughout a barnstorming year for the Canadian mortgage industry – one in which the task of handling record mortgage volume has collided with the ongoing challenges of the pandemic – the performance of its top female members has been nothing short of extraordinary.

The new reality foisted upon mortgage professionals required them to adjust to digital interactions with clients and colleagues while also navigating an increasingly complex landscape of house price increases, tightening lending restrictions and higher qualifying rates. 

Yet the 82 women who made this year’s Women of Influence list rose to those challenges, continuing to set a strong example for their counterparts in the industry by excelling in such a frenzied market. 

Not only that, but many of these women have distinguished themselves over the past year through superb management and stewardship of their companies in such a trying time, making sure that the well-being of employees and colleagues was top of mind during a gruelling pandemic. 

The mortgage industry is strongest when it’s diverse, inclusive and welcoming, and the achievements of the leading women in this space over the past year are clear proof of why it’s so important to have as many influential female voices at the table as possible. By rising to the top and providing a shining example for colleagues and clients alike, this year’s Women of Influence have demonstrated that the industry is home to plenty of strong, motivated and inspirational women – and that it’s all the richer for it.

Every year at Canadian Mortgage Professionals (CMP), a list is released distinguishing the top women in the mortgage industry in Canada. For the Women of Influence 2021 list, we see Angela among the 82 women ultimately selected out of the total nomination pool of 340. 

You can read the full list at Canadian Mortgage Professionals

Although this list was released back in the Fall, we are only able to highlight it now as Angela has been busy providing the best service for her various clients and giving back to local communities in charity programs like the People’s Pantry.


Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

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. 

influence

January 2022 Mortgage Update

General Angela Calla 6 Jan

Happy New Year from the Angela Calla Mortgage Team! As we move into 2022, we wish for you and your loved ones everything you can dream of for the year ahead.

We wanted to bring you an update on what you can expect in the next couple of months.

You likely have already received your BC property assessment, if not or if you would like to look it up online, you may do so here. Any questions you may have on how to best utilize your equity for investment or get rid of outside debt and build up an emergency fund, count on us to help. 

Mortgage statements can be expected to be out by the end of February, if not before. Most lenders will have online access if you’re not already signed up yet. Make sure to keep this handy for tax time if you have been working from home. 

Lastly, we will be hosting a virtual first-time homebuyers webinar later this month. So, if you or your loved ones are looking to turn that dream of buying a home into a reality, reach out to us so we can send you the sign-up link. 


Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

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. 

mortgage

Housing Market Predictions?

General Angela Calla 6 Jan

According to the 2022 Canadian Housing Market Outlook Report from RE/MAX, steady growth is anticipated across the Canadian real estate landscape into 2022. While Canadians continue to recognize the value and investment potential of their home, market challenges (such as rising prices and limited supply) maintain their impact on local markets.

It is estimated that Canada will witness an approximate 9.2% increase in average housing prices across the country as a result.

One of the key trends we see continue from 2021 into 2022 is inter-provincial migration occurring in many regions as a result of supply and affordability of homes across Canada. Individuals are also looking for larger homes with more space for growing families. While there is potential for the real estate conditions to continue to shift, 49% of respondents view Canadian real estate as a top investment option and believe the market will remain steady throughout 2022.

Below are some key regional forecasts from Moody’s Analytics and Real Property Solutions (RPS) for 2022:

  • British Columbia: Housing markets in BC are also overvalued, particularly in Vancouver and other metro areas. As a result, these areas will continue to have a downward pull on housing prices due to reduced affordability.
  • Alberta & Saskatchewan: Currently considered “undervalued” housing markets, they are likely to do better despite weaker economics as they have retained better affordability.
  • Manitoba: Lifestyle shifts, such as hybrid working environments and younger couples enjoying the freedom to work from home, predicts that Winnipeg will continue to be a seller’s market through 2022 with high demand for one- and two-story detached homes.
  • Ontario: Smaller metro areas (Brantford, Kitchener, Kingston, London, Windsor and Ottawa) are expecting the strongest house price appreciation rates. With regards to The Greater Toronto Area, this region currently suffers from over evaluation. However, housing prices have shown less sensitivity to this based on historical data so they are likely to experience less downward pressure.
  • Quebec: This province presents important contrasts as Montreal is the only metro area in Quebec not in the correctly valued range (plus or minus 10%), and will experience a downward pull on housing prices due to reduced affordability.
  • Nova Scotia & New Brunswick: The highest home price appreciation is expected to occur in the metro areas of Moncton and Halifax.
  • Newfoundland & Labrador: Aside from the Prairies, this Atlantic province is expected to see housing price growth move at a faster rate.

If you are looking to buy, sell or simply review or renew your mortgage in 2022, please do not hesitate to reach out to me! I would be happy to review your situation with you and help you make the best decision for you and your family now, and into the future.

This is from a newsletter from the Dominion Lending Centre


Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

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. 

housing

12