The lowest 5-year variable-rate mortgage in Canadian history is here

General Angela Calla 7 Jul

Article written by Jessy Bains – can be viewed here The gap between variable and fixed-rate mortgages has widened (Photo by Jeff J Mitchell/Getty Images) Low rates have helped fuel the real estate rally and today, says the best 5-year variable rate on its site dropped to 0.98 per cent, which it says is the lowest 5-year variable-rate […]

Read More

BC’s Restart Plan | COVID-19 Update

General Angela Calla 30 Jun

Published by the Tri-Cities Chamber of Commerce 2021 The Government of British Columbia has just announced BC’s Restart Plan and outlined the road the recovery. BC’s Restart – a four-step plan to bring BC back together will be a slow and gradual return to a more normal life, with safety and health protocols such as […]

Read More

Low Rates Helping Borrowers Pay Off Mortgages at Record Pace

General Angela Calla 29 Jun

Home prices may be astronomical in certain parts of the country, but historically low mortgage rates are allowing borrowers to pay off their mortgages faster than ever. At today’s average rates, 61% of a new homebuyer’s very first mortgage payment is going towards principal repayment, according to data from Edge Realty Analytics. In the early 2000s, […]

Read More

Bank of Canada Holds Rates and QE Steady–Asserting That Both the Upside in Inflation and the Downside in GDP is Temporary

General Angela Calla 9 Jun

The Bank of Canada left the benchmark overnight policy rate unchanged at 0.25% and maintained its current pace of GoC bond purchases at its current pace. The Governing Council renewed its pledge to refrain from raising rates until the damage from the pandemic is fully repaired. The $3 billion weekly pace of bond-buying–known as quantitative […]

Read More

Housing Drove the Economic Expansion in Q1

General Angela Calla 7 Jun

This morning’s Stats Canada release showed that the economy grew at a 5.6% annualized rate in the first quarter, after a revised 9.3% pace in the final quarter of last year. That was somewhat below economists’ expectations. Housing investment grew at an annualized 43% pace, by far the biggest impetus of the expansion. Residential investment […]

Read More

Introducing the First Responder Mortgage Program™

General Angela Calla 4 Jun

To gesture our appreciation to our First Responders across the country we created a program specifically for them! The First Responder Mortgage Program™ is our way of saying THANK YOU. Who is Eligible: The First Responder Mortgage Program™ is open to the following individuals: Police Officers Paramedics Firefighters (employed and volunteering) Correctional Services Border Services Search & Rescue […]

Read More

NEW Mortgage Stress Test | How it will affect YOU

General Angela Calla 1 Jun

Further to the original announcement in early April, the new mortgage stress test released on June 1st has officially increased for home purchases and those looking to refinance. This has caused a decrease in their borrowing power by about 5%. To put this in perspective, if they were approved for 1 million dollars, that is reduced […]

Read More

Variable Rate Mortgage? The Time to Act is Now

General Angela Calla 20 May

The Time to act is now! If you or someone you care about has a mortgage with a discount below .50%, it might be worth it to redo your mortgage. Why? The lower variable rate discounts have reached an all time low. This opportunity may potentially save you money! Please note, it will be subject […]

Read More