Angela Calla has always loved real estate and financial planning so being a mortgage broker is the best of both worlds! Some of her many awards are the Accredited Mortgage Professional Award of the Year, Canada wide, in 2009, the Women of Influence Award several years running, and the 2020 Best Selling Author Pursuit 365. […]

This morning’s Jobs Report was again solid. Job creation, though more tempered than in earlier months, is still robust. The unemployment rate remained at 5.0% for the fourth consecutive month. Very troubling to the Bank of Canada was the wage inflation, still above 5%. No doubt the Bank does not welcome this news. But the […]

In March, the global economy was focused on systemic risk in the banking sector. Following three bank failures in the U.S., markets were roiled again by the forced sale of Credit Suisse to UBS. Interest rates have plummeted as demand for the haven of government bonds has increased sharply. Consequently, five-year fixed mortgage rates have […]

Your payment schedule is the frequency that you make mortgage payments and ranges from monthly to bi-monthly, bi-weekly, accelerated bi-weekly or even weekly payments. Below is a quick overview of what each of these payment frequencies mean: Monthly Payments: A monthly payment is simply a single large payment, paid once per month; this is the […]

Earlier this week, the Government of Canada announced a series of amendments to the Foreign Buyer Ban. These amendments expand the exceptions to the regulations, are effective immediately, as of March 27, 2023, and are as follows: The Foreign Buyer Ban no longer applies to work permit holders. Now, those who hold a work permit […]

On March 27, 2023, the federal government announced amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Act’s (the Act) accompanying Regulations, effective March 27, 2023. The Act was passed in June 2022 and the regulations came into force January 1, 2023. Here’s what you need to know about the amendments to the Foreign Buyers Ban. Enable […]

Measures for individuals Alternative minimum tax (AMT) rules expanded to apply to more high-income earners. Qualifying family members measure for RDSPs will be extended by three years to 2026, and expanded to include siblings 18 and older. The maximum educational assistance payment (EAP) withdrawal for the first 13 weeks of enrollment increased to $8,000 (full-time […]

Federal Budget 2023…Press the Snooze Button As promised, there would be nothing much in this year’s budget for fear of stimulating inflation. The federal government faces a challenging fiscal environment and a weakening economy. Ottawa promised it would err on the side of restraint. Instead, Finance Minister Chrystia Freeland announced a $43 billion increase in […]

The government of Canada just dropped its 2023 budget. Like last year, there were no major mortgage bombshells. Below is a quick rundown of the budget updates with lending relevance. Rate and inflation impact We haven’t had a chance to dive deep into the inflation ramifications but suffice it to say, the budget’s projected $43 […]

Housing Marketing Could Be Poised For a Spring Rebound The Canadian Real Estate Association says home sales in February bounced 2.3% from the previous month. Homeowners and buyers were comforted by the guidance from the Bank of Canada that it would likely pause rate hikes for the first time in a year.  The Canadian aggregate benchmark […]