Bank of Canada Announcement – April 2022

General Angela Calla 13 Apr

The Bank of Canada will be raising interest rates on variable-rate mortgages by 0.5%. What this means is that your monthly payments will increase by $26 per $100,000 on your mortgage if you are on a variable rate mortgage. Here is the Bank of Canada statement. This comes as no surprise as Canadian inflation has […]

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2022 Federal Budget Summary

General Angela Calla 12 Apr

Deputy Prime Minister and Minister of Finance the Honourable Chrystia Freeland tabled the Government’s Budget on April 7, 2022. Highlights of the 2022 Budget include: Initiatives to support housing affordability Tax incentives to support small businesses Measures to address tax avoidance and aggressive tax planning Various international and cross-border tax measures Additional tax on financial […]

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2022 Federal Budget and Real Estate Mortgage and Grant Update

General Angela Calla 11 Apr

The federal budget promises $10 billion to make housing more affordable. Measures include tax credits for a variety of items, but the big ones, at least to me are: A two-year ban on foreign buyers Sales taxes on assignment sales No principal residence exemption for properties bought and sold within 12 months Multigenerational Home Renovation […]

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Housing a Major Theme Today’s Federal Budget

General Angela Calla 8 Apr

Affordable Housing Is A Key Theme In Federal Budget 2022 Today’s budget announced a $10 billion package of proposals intended to reduce the cost of housing in Canada (see box below). The fundamental problem is insufficient supply to meet the demands of a rapidly growing population base. Thanks to the federal government’s policy to rapidly increase immigration […]

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Purchase Plus Home Improvements?

General Angela Calla 7 Apr

When it comes to shopping for your perfect home, it can be hard to find the exact one ready to go! In fact, most homes come with flaws of a sort whether it is old paint or flooring, outdated fixtures or perhaps more extensive repairs are needed. While some buyers have no issues dealing with […]

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Have You Had Your Mortgage Check-Up?

General Angela Calla 6 Apr

Spring is a great time to consider doing an annual mortgage check-in! Organizing a quick mortgage review each year can help provide peace of mind and ensure you’re on-track your future goals while still ensuring you’re able to manage the monthly payments With interest rates on the rise, a mortgage check-up is a great opportunity […]

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Three Questions with Mortgage Expert Angela Calla

General Angela Calla 4 Apr

Record low mortgage rates have played a significant role in driving housing market activity during the COVID-19 pandemic. With inflation on the rise and the pandemic hopefully nearing a conclusion, mortgage rates have begun to increase. Angela was asked three questions by the Real Estate Board of Greater Vancouver about what she’s seeing in the […]

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Differences Between a Variable and Fixed Rate Mortgage

General Angela Calla 1 Apr

As the housing market continues to stir up homebuyers in Canada, the ongoing debate between variable and fixed rate holders is more prevalent than ever. To highlight some of these aspects more prominently, we have put together a breakdown of the distinctions you should know. When it comes to adjustable vs variable, it is invaluable […]

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In Anticipation to the April Bank of Canada Announcement

General Angela Calla 1 Apr

Good morning! In light of the upcoming April Bank of Canada announcement, we’ve been getting a lot of messages from those of you with Variable Rate Mortgages, asking if you should lock in ahead of April’s potential rate increase: Rates are rising. Is it time to lock in your mortgage rate? In her keynote speech […]

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CBC Interview: How to Enter the Canadian Housing Market

General Angela Calla 25 Mar

Recently we were interviewed by CBC leading off the news in the business digest across Canada discussing how Canadians are getting into the market. In summary, 4/10 Canadians get a substantial gift from parents, in the sum of $100,000 to $300,000 instead of co-signing. If a parent co-signs they have to qualify to service the […]

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