As predicted from the Bank of Canada announcement today, they have made an increase of prime rate by o.25% and the banks will follow. This means that there will be a $13 a month increase per $100k on your payments for variable-rate mortgages. If you have a $500k variable rate mortgage expect an increase of approximately $65.00/month. We […]

I just wanted to share my message to any of you variable rate mortgage holders who are feeling apprehensive about the Bank of Canada’s rate increase today. To those of you with fixed-rate mortgages, this should not affect you at all. 📣 Attention Variable Rate Mortgage Holders: Do Not Panic. 👉 The Bank of Canada […]

Bank of Canada Starts Hiking Rates, Signalling More To Come The Governing Council of the Bank of Canada raised the overnight policy rate target by a quarter percentage point in a widely expected move and signalled that more hikes would be coming. This is the first rate hike since 2018. In a cautious stance, the […]

This is a big year for mortgage renewals. You deserve to get the most out of your investment; by adhering to the following tips, you stand a great chance of saving thousands down the road by handling your mortgage renewal the right way Start planning for the renewal at least four months in advance You […]

Budget 2022 reflects the choices government is making that are needed to build a stronger B.C. and make life better for people, by investing in B.C.’s economic, environmental and social strengths. Budget 2022 supports bold actions to fight climate change and to protect people and communities from climate-related disasters. In addition, the budget helps with […]

Inflation Ticked Up Again in January StatsCanada today reported that consumer price inflation rose to 5.1% from year-ago levels in January, compared to 4.8% in December. This was higher than expected but still well below US inflation posted at 7.5% for the same period. Undoubtedly, this puts additional pressure on the Bank of Canada to […]

Recently, Angela was invited to speak on The Jill Bennett Show in light of the recent Bank of Canada announcement. We can breathe a sigh of relief as there was no rise in interest rates. But that’s not to say we shouldn’t stay vigilant. The rates are sure to increase this year, and this means […]

No Wonder The Bank of Canada Didn’t Hike Interest Rates Last Month Statistics Canada released the January Labour Force Survey this morning, reporting a much more extensive than expected decline in jobs last month. The Omicron shutdowns and restrictions took a much larger toll in Canada than expected, as employment fell 200,100 in January and […]

Bank Will Hike Rates At Next Meeting While markets were 70% certain the Bank would hike their overnight target rate today, we remained of the view that the Governing Council would hold off until March or April because of the slowdown in first-quarter growth arising from the Omicron restrictions. The Bank announced today that economic […]