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 MoreGeneral 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 MoreGeneral 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 MoreGeneral Angela Calla 9 Jun
MAY’S SOFTER LABOUR MARKET DATA ENDED THE LONGEST RUN OF JOB GAINS SINCE 2017 Ironically, the May Labour Force Survey showed a modest slowdown two days after the Bank of Canada surprised the markets by raising interest rates. Employment was little changed in May, down 17,300, all for youth aged 15 to 24. All other […]
Read MoreGeneral 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 MoreGeneral 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 MoreGeneral 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 MoreGeneral 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 MoreGeneral Angela Calla 1 Jun
We hope this email finds you well. We are writing to remind you that the due date for your property tax payment is fast approaching and is due by July 4, 2023. It is crucial to submit the payment to the designated taxing authority by the due date. Failing to meet the deadline may result […]
Read MoreGeneral Angela Calla 1 Jun
Good News Is Bad News For The Bank Of Canada The Canadian economy continues to show marked resilience to high-interest rates. Statistics Canada released data this morning showing real GDP rose at an above-consensus 3.1% annual rate in the first quarter of this year. The estimate for April growth was also firm, a harbinger of continued strength […]
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