Homeowner Insurance 101

General Angela Calla 7 Jul

Not all insurance products are created equal. It is important to understand all the different insurance products to ensure you have proper coverage. Below are the main insurance product options you will encounter with homeownership, and what they mean: Default Insurance: This insurance is mandatory for homes where the buyer puts less than 20% down. […]

Read More

Happy Canada Day!

General Angela Calla 29 Jun

As Canada Day approaches, we wanted to take a moment to express our heartfelt gratitude and extend our warmest wishes to you, our valued mortgage clients. It is a pleasure to serve you, and we truly appreciate you.   Canada Day is a special occasion that allows us to come together as a nation and […]

Read More

May Inflation Numbers Were Good, But Will They Satisfy the Bank of Canada?

General Angela Calla 28 Jun

Will the May Inflation Decline Thwart Another Rate Hike in July? The May inflation data, released this morning by Statistics Canada, bore no surprises. The year-over-year (y/y) inflation measured by the Consumer Price Index (CPI) at 3.4% was just as expected–down a full percentage point from the April reading. This is the smallest increase since June 2021. Economists […]

Read More

MFCBC First-Time Home Buyers Program

General Angela Calla 27 Jun

The MNBC Funded Program Supports New Home Down Payment and Closing Costs BRITISH COLUMBIA – Métis Financial Corporation of British Columbia (MFCBC) in partnership with Métis Nation British Columbia (MNBC) has launched a First-Time Home Buyers Program (FTHBP) to support Citizens of the Métis Nation of BC who are ready to purchase their first home. FTHBP is a one-time grant that […]

Read More

In an Aggressive Move, the BoC Hikes the Policy Rate by 25 BPs

General Angela Calla 8 Jun

Holy Smokes, The Bank of Canada Means Business If there were any doubt that the Bank of Canada wanted inflation to fall to 2%, it would be obliterated today. In a relatively surprising move, the Bank hiked the overnight policy rate by 25 bps to 4.75%, and an equivalent hike will follow in the prime […]

Read More

Bank of Canada Announcement | June 7, 2023

General Angela Calla 7 Jun

Bank of Canada has increased their overnight rate by 25 basis points, pushing prime to 6.95%. Although this was partly anticipated by the market, it is the Bank’s first-rate hike since January. The highest rate since April 2001. This move impacts variable rate mortgage holders and those with a Line of Credit of approx. 14 dollars […]

Read More

First Home Savings Account (FHSA)

General Angela Calla 6 Jun

The First Home Savings Account (FHSA) is specifically designed to help first-time homebuyers save for their down payment without having to pay taxes on the interest earned on their savings. This means that the interest earned on the savings in the account is not taxed, nor are withdrawals from the account.  Plus, since your contributions […]

Read More

Three Key Points to Keep in Mind

General Angela Calla 2 Jun

As we enter the halfway point of the year, here is an update of three key points to keep in mind: The Bank of Canada meets next week, and while they may hold, we recommend bracing for another potential hike before the year ends based on inflation numbers. If you are up for renewal or considering […]

Read More