Here at the Angela Calla Mortgage Team, we recognize the value of caring for our senior loved ones. In recognition of Personal Support Workers Day, we wanted to share this new award from our partners at HomeEquity Bank that highlights those who see to the care of some of the most vulnerable in our community. […]

Mortgages are required to qualify based on the stress test (the higher of 5.25% or your actual contract rate + 2%). Fixed rates are over 4%, putting the stress test at over 6%. Many people opt for variables as rates can be as low as 2.3% allowing them to qualify using 5.25% increasing the maximum […]

The trendiest type of home equity line of credit is in the crosshairs of Canada’s banking regulator, which is looking to curb risky borrowing as rising interest rates put added pressure on heavily indebted homeowners. The product under scrutiny is the readvanceable mortgage – a traditional mortgage combined with a line of credit that increases […]

Canadian Housing Market Feels The Pinch of Higher Rates Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates has broadened. In April, national home sales dropped by 12.6% on a month-over-month (m/m) basis. The decline placed the monthly activity at […]

With interest rates increasing and market conditions beginning to change, we asked mortgage broker Angela Calla three questions about what’s happening in the mortgage market today. Here’s what she told us. What lending advice can Realtors give their clients as interest rates climb? Advanced planning is the key to success. Over the last few months, […]

If you have a static payment Variable Rate Mortgage (where your payment does not change, even if the Prime Rate rises), here is a decent article about the “Trigger Rate” (This was something I also wrote about in my book The Mortgage Code). The Trigger Rate is reached once your payment is no longer enough […]

A big hello from our team and we hope you have been keeping well. With the rising inflation impacting us all, we thought we would share how we may be able to help if you have a mortgage, and compound that benefit if you have debt outside of your mortgage. Wade, our client from Nanaimo […]

In a recent article, we looked at how the Bank of Canada’s policy rate affects other banks’ prime rates and what it means for borrowers. The bank’s interest rate impacts a lot of what happens in the Canadian financial system, but it isn’t the only important variable that investors should know about. Another common figure that plays […]

Looking for some tips to improve your home security? While there are many things you can do, the security you choose will depend on your comfort level and preferences. Check out these ideas below to help get you started! Reinforce the windows on your first floor with window stops Use deadbolts instead of spring-latch locks. […]

Nearly one half (48%) of Canadians are $200 or less per month away from not being able to meet all of their bills or debt obligations each month, including 26% who say they already don’t make enough money to cover their bills and debt payments, according to a new Ipsos poll conducted on behalf of […]