General Angela Calla 26 Sep
Apply for a partial premium refund of 25% if you’re CMHC insured and working on energy efficient renovations to your recently purchased home. CMHC Eco Improvement aims to reduce the environmental impact of housing by supporting energy-efficient improvements. Apply for a 25% partial premium refund if you’re insured with CMHC and you’re spending at least […]
Read MoreGeneral Angela Calla 20 Sep
Often times we get calls or emails from those who are disappointed …they spoke to the bank directly on what options are available to make a home or investment property purchase. Let’s take a look at “why” this happens ( more of a breakdown in my book for purchase here) Every Bank in Canada only […]
Read MoreGeneral Angela Calla 20 Sep
Beware of Tempting Rates! 🚫💰 Some rates seem too good to be true, and they often are. 😲 Lenders may offer specials, but you’ll lose important mortgage terms and conditions. The bona-fide sales clause locks you with the lender until your term ends (ex. the whole 5 years), limiting your options. They may also restrict […]
Read MoreGeneral Angela Calla 19 Sep
Roughly 50% of the prices in the CPI are growing more than 5%, which is still very concerning for the Bank of Canada. Market rates moved up meaningfully on the news. With the 5-year government bond yield well above 4%, fixed mortgage rates will increase this week. The odds of another 25 bps rate […]
Read MoreGeneral Angela Calla 18 Sep
With changes in qualifying rates, increased housing prices, changes in relationship, it’s not uncommon for a parent, or sibling, aunt or cousin or even strangers to consider working together to achieve there home ownership dreams. The ability to buy a spouse out or even obtain a better mortgage renewal to improve your finances are most […]
Read MoreGeneral Angela Calla 18 Sep
While many people decide to co-own a home for cultural reasons or to help take care of elderly parents or young children, more Canadians are now turning to co-ownership as a means to combat housing in-affordability. In 2023, 6% of Canadians said they co-own their home with someone other than a spouse or significant other, […]
Read MoreGeneral Angela Calla 15 Sep
Canada Emergency Business Account: Government extends repayment and partial loan forgiveness deadlines Backgrounder On September 14, 2023, the Prime Minister announced extended deadlines for Canada Emergency Business Account (CEBA) loan repayments, providing an additional year for term loan repayment, and additional flexibilities for loan holders looking to benefit from partial loan forgiveness of up to […]
Read MoreGeneral Angela Calla 11 Sep
Province caps annual rent increase well below inflation For the second consecutive year, B.C.’s maximum allowable rent increase is being set below the inflation rate. The maximum increase for 2024 will be 3.5%. “Across the country, costs have been increasing — especially for housing — at a rate that’s unsustainable for many people,” said Ravi […]
Read MoreGeneral Angela Calla 6 Sep
Bank of Canada Holds Rates Steady Acknowledging Economic Slowdown With last Friday’s publication of the anemic second-quarter GDP data, it was obvious that the Bank of Canada would refrain from raising rates at today’s meeting. Economic activity declined by 0.2% in Q2; the first quarter growth estimate decreased from 3.1% to 2.6%. Today’s press release […]
Read MoreGeneral Angela Calla 5 Sep
Welcome to the September issue of my monthly newsletter! This month, I am covering what you need to know about condition-free offers, plus since the kids are headed back to school, now is a great time to teach them about money. Also, hear the economic forecast straight from our Chief Economist, Dr. Sherry Cooper! Market […]
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