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Big news out of Nova Scotia today: the Government of Nova Scotia has launched a new First-Time Homebuyers Program that cuts the minimum down payment to just 2% of the purchase price — less than half of what it usually is.

This four-year pilot initiative is designed to help people who are financially ready to buy a home but can’t save up the larger down payment that’s often a barrier to entering the market. It’s being delivered through a partnership between the provincial government, Atlantic Central and participating credit unions.

Here’s what this means for eligible buyers:

What the Program Does

• Lower Down Payment: Eligible first-time buyers can purchase with a 2% down payment instead of the standard 5% minimum.
• Government Guarantee: The Province acts as a guarantor on these mortgages, so buyers don’t have to buy separate mortgage insurance — saving even more up front.
• Credit Union Delivery: Mortgages are available through local credit unions that participate in the program.

Eligibility Highlights

To qualify, buyers must:

• Have a household income of $200,000 or less
• Pass the CMHC mortgage stress test
• Have a credit score of at least 630
• Be a Canadian citizen, permanent resident, or certain sponsored immigrants
• Buy a home priced up to $570,000 in Halifax/East Hants or $500,000 elsewhere in Nova Scotia

Previous homeowners who haven’t owned a home in four or more years may also be eligible under the program’s rules.

Why This Matters

This program addresses one of the most common hurdles first-time buyers face: saving enough cash for a down payment. With rental costs and wages out of sync in many markets, actually putting money aside for a down payment is often the hardest step for would-be buyers — even when they’re otherwise financially prepared.

In fact, we used to have zero down payment options available years ago — a time when many more people could start building equity sooner and lay down roots in their communities. Reducing or removing upfront barriers like down payments can make a real difference, especially for younger buyers and essential workers who have the ability to pay but lack the savings hurdle.

What This Means for Canada

While Nova Scotia’s program is a positive local step, it underscores a critical point I’ve raised many times:

Interest rates alone will not solve housing affordability.

Lowering borrowing costs helps with monthly payments — but people still need to get into the market first. Policies that reduce upfront barriers, encourage responsible lending, and expand access to capital are essential. We need similar creative solutions at the federal level so that first-time buyers from coast-to-coast can benefit.

There are already some federal supports — like the RRSP Home Buyers’ Plan and GST rebates on new homes — but more is needed to address the savings gap and ensure meaningful access to homeownership.

Let’s Talk About What’s Possible

Housing affordability isn’t just about rates — it’s about policy, support, and giving people real pathways to achieve their goals. As someone immersed in the financial and mortgage space, I’ve seen firsthand how these barriers impact real families and real futures.

If you’re thinking about buying a home, or want to explore how innovative program could help you today,  Let’s work through your options together.

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. 

Full Announcement 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. 

Thank you to everyone who sent in topic suggestions and questions for our weekly email.  Not surprisingly, many of the questions relate to the recent decision in Cowichan Tribes v. Canada (AG), 2025 and what it may mean for homeowners and purchasers of the land. Stewart Title, one of British Columbia’s leading title insurance providers, has shared guidance on this issue. Previously, Stewart Title policies excluded coverage for all First Nation or Indigenous land claims. Their recent updates now allow for limited potential coverage under certain Residential Owner Policies. For the land directly affected by the Cowichan decision, Stewart Title will not provide coverage to owners, but coverage may still be available to lenders. For Residential Owner Policies ordered after January 19, 2026, coverage for First Nations or Indigenous claims applies only if there is a covered risk and the owner suffers an actual loss following a final court decision (with no further appeals available) that results in loss of title, expropriation of the land, or eviction without compensation.  However, if government compensation is provided, no claim is payable under the policy. In short, owners now have some protection but only if they actually lose their home or the right to live there, mere claims to title will not suffice for insurance purposes. For more information on this topic, please visit our Knowledge Center article here https://bcrealestatelawyers.com/knowledge-centre/legal-issues-faqs/title-insurance-and-first-nations-claims-to-title/ Article courtesy of Tony Spagnuolo

 

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. 

Canadian Jobs Growth Slowed Markedly in January as the Unemployment Rate Fell Sharply to 6.5%

Today’s Canadian Labour Force Survey for January was weaker than expected. Employment declined by 24,800 (-0.1%), and the employment rate decreased 0.1 percentage points to 60.8%. This followed only a small gain in December and was the first decline in the employment rate since August 2025.

In January, a decrease in part-time employment (-70,000; -1.8%) was partly offset by a gain in full-time work (+45,000; +0.3%). Compared with 12 months earlier, overall employment was up by 134,000 (+0.6%), driven by gains in full-time work (+149,000; +0.9%).

The number of private sector employees fell by 52,000 (-0.4%) in January, partly offsetting a net increase of 128,000 (+0.9%) in the last three months of 2025. There was little change in the number of public sector employees (+13,000; +0.3%) and self-employed workers (+14,000; +0.5%) in January.

The jobless rate fell by 0,3 percentage points to 6.5% in January, driven by a decline in the number of people searching for work. The unemployment rate in January was the lowest since September 2024, down 0.6 percentage points from the recent high of 7.1% recorded in August and September 2025.

The labour force participation rate—the proportion of the population aged 15 and older who were employed or looking for work—decreased 0.4 percentage points to 65.0% in January, following an increase of 0.2 percentage points in December. The decline in January was concentrated in Ontario, the hub of the auto sector, manufacturing generally, and steel production. Recent data also show that the number of entry-level positions has fallen sharply, likely due to artificial intelligence replacing these positions.

The unemployment rate fell across most major demographic groups in January, largely reflecting declines in the number of job searchers.

Unemployment rate by age group, January 2026

Manufacturing jobs were hard hit by the tariffs and trade uncertainty. 

The number of people working in manufacturing fell by 28,000 (-1.5%) in January, bringing employment down to levels last observed in August 2025. The decline in January was concentrated in Ontario. On a year-over-year basis, overall employment in manufacturing was down 51,000 (-2.7%).

Employment change by industry, January 2026

There were also fewer workers in educational services (-24,000; -1.5%) and public administration (-10,000; -0.8%) in January. Employment in both industries was little changed year over year.

On the other hand, employment increased in information, culture and recreation (+17,000; +2.0%) in January, continuing an upward trend that began in September 2025. On a year-over-year basis, employment in this industry was up 30,000 (+3.6%) in January.

Employment also rose in business, building and other support services (+14,000; +2.1%) in January, the first increase since October 2024. Employment in this industry had previously followed a downward trend through most of 2025. Compared with 12 months earlier, employment in business, building and other support services was down 38,000 (-5.3%) in January.

Bottom Line

The Bank of Canada has reiterated that its primary mandate is price stability, effectively leaving the task of closing the output gap to fiscal authorities. Fiscal support delivered through large capital-spending projects will be implemented too slowly to materially offset near-term weakness in activity. If layoffs persist at their recent pace and the United States were to withdraw from the Canada‑US‑Mexico Agreement, the case for an additional round of monetary easing would strengthen markedly.

Absent that downside scenario, the more plausible path is a slow and limited normalization of policy. Market pricing currently anticipates that the next move by the Bank of Canada will be to raise the overnight policy rate, but this is unlikely until 2027. If labour force weakness and higher mortgage costs associated with this year’s huge volume of mortgage renewals, in combination with AI-induced job losses, weaken the economy, the Bank of Canada might be willing to cut the overnight policy rate later this year. Uncertainty has already markedly weakened the housing market, despite the reduction in home prices and mortgage rates over the past 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. 

Today, the Office of the Superintendent of Financial Institutions (OSFI) had its first Quarterly Release of 2026. As part of this release, OSFI has finalized new liquidity guidance and is launching consultations on credit risk management as well as accountability for boards and senior leaders.

This Quarterly Release highlights how OSFI’s focused policy efforts and smart oversight are engaging industry on risk issues that are the most critical and have greatest impact. Concentrating resources where they matter most ensures institutions can adapt and grow while preserving confidence and stability.

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.