8 Ways Canadians Benefit from Early Mortgage Redo: A Nurse and Engineer’s Success Story

General Angela Calla 24 Jul

In the ever-changing Canadian market, financial decisions can be both daunting and exhilarating. Every day, The Angela Calla Mortgage Team have the privilege of helping Canadians navigate these waters. Recently, a nurse and an engineer from Port Coquitlam experienced firsthand the benefits of taking control of their financial future by redoing their mortgage early. Through […]

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Multigenerational Home Renovation Tax Credit

General Angela Calla 19 Jul

For the 2023 and subsequent taxation years, Budget 2022 introduced the Multigenerational Home Renovation Tax Credit (MHRTC), a refundable credit to assist with the cost of renovating an eligible dwelling to establish a secondary unit that enables a qualifying individual (a senior or an adult who is eligible for the disability tax credit) to live […]

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CPI Inflation Falls To 2.8%–Inside the BoC’s Target Range

General Angela Calla 19 Jul

Canadian Inflation Falls Within Bank of Canada’s Target Range; Food and Shelter Costs Remain High June inflation data released today by Statistics Canada showed that the Consumer Price Index (CPI) rose 2.8% year-over-year (y/y), slightly below expectations. This was the lowest CPI reading since February 2022. The decline in inflation was mainly due to lower energy prices, […]

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Bank of Canada Hikes Policy Rate By 25 BPs to 5.0%–Highest in 22 Years

General Angela Calla 13 Jul

Interest Rates Will Stay Higher For Longer The Bank of Canada increased the overnight policy rate by 25 basis points this morning to 5.0%, its highest level since March 2001. Never before has a policy action been so widely expected. Still, the Bank’s detailed outlook in the July Monetary Policy Report (MPR) suggests stronger growth and […]

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‘Devastating news’: B.C. premier worries about rising interest rates for residents

General Angela Calla 13 Jul

B.C. Premier David Eby said the Bank of Canada interest rate rise Wednesday is “devastating news” for families that have debt. “They borrowed money for various reasons to get through,” he said at the annual premier’s meeting in Winnipeg. “A lot of businesses in British Columbia borrowed money to get through the pandemic. They’re struggling under the weight of […]

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Bank of Canada Raises 25 Basis Points

General Angela Calla 12 Jul

The Bank of Canada (BoC) has made the decision to increase interest rates by 0.25% today.  You can view the announcement here: Bank of Canada Announcement Here are a few key points to consider regarding this rate increase: Borrowing Costs:  With the rate hike, borrowing costs for individuals and businesses will likely increase. This affects […]

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