Mortgage rates are the low – no need to panic or move right?! WRONG If you have a mortgage over 4%, the earlier you take control and review your mortgage, the sooner you can retire. Want proof? Consider the following:   .               $300,000 mortgage with a 30-year amortization 2007 average 5-year fixed interest rate: 5.89% […]

The deteriorating global picture is turning what had been a soft patch for Canada’s export-heavy economy into more than a year of sluggish growth, the Bank of Canada said today in a new quarterly forecast.  A day after leaving their benchmark interest rate at 1% for a ninth consecutive meeting, Bank of Canada Governor Mark […]

Mortgage, that is. The decision could end up costing – or saving – big bucks on what is often the single biggest purchase many will make. Research shows that, in the past, a variable-rate mortgage has been cheaper than a fixed-rate one. But today’s market is different from decades past in two big ways. “The […]

Finance Minister Jim Flaherty confirmed he is working on a more explicit inflation mandate for Canada’s central bank, a move that comes as Canadians are increasingly paying more for everyday needs. Speaking with reporters after Statistics Canada reported on Friday that the core inflation rate has climbed to 2.2 per cent – its highest level […]

  As expected there is no change to prime rate this morning. This means no change to those whom carry an adjustable/variable rate mortgage or line of credit. The full report can be viewed here http://www.bankofcanada.ca/2011/10/press-releases/fad-press-release-2011-10-25/ Reported last week at www.angelacalla.ca/blog , if you or someone you care about is getting a new mortgage in the […]

October 17th 2011- for immediate release Has the pendulum ever swung over the last year in terms of fixed or variable-rate mortgages! Reports show us that 88% of the time you will get ahead with a variable rate. And besides the always predictable pay out penalty with the variable rate mortgage that people enjoy compared […]

The Canadian housing market continues to defy the odds in the face of a world economic slowdown, as new statistics from CMHC show new home construction soaring again. The latest numbers put September starts at 205,900 on an annualized basis, a pace in line with the best period of this housing boom when starts checked […]

While the creator of the eponymous Smith Manoeuvre, Fraser Smith, is sadly no longer with us, the tax-savings movement he spawned is very much alive and well in Canada. Born in 1938, Smith died of cancer on September 25th at age 73. His “manoeuvre” was and is a way for Canadians to achieve what American […]

DID YOU KNOW… Preparing for a mortgage will increase your chances for approval. Don’t buy or lease big-ticket items or increase debt for 6-12 months prior. Purchasing things such a new car, furniture or major appliances worsens debt-to-income ratios, which can make you ineligible for the best available loan terms. Contact the Angela Calla Mortgage […]

Planning ahead to ensure your credit is healthy before applying for a mortgage can translate into a better mortgage rate and product – which can save you significant money throughout the term of your mortgage. Following are five steps you can use to help attain a speedy credit score boost: 1) Pay down credit cards. […]