Reverse Mortgages

General Angela Calla 20 Apr

Reverse mortgages are continuing to gain popularity for homeowners above the age of 55 in Canada! For Canadians looking to retire, high debt, ongoing expenses, as well as a reduced income can be a challenge. This is where reverse mortgages can help! It is a NON taxable event meaning there is no risk of pension claw […]

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Housing Market: Can it continue like this?

General Angela Calla 16 Apr

Can the current housing market continue even with the impact of Covid-19? Absolutely, but we must address one key issue. Canada currently has a major deficit in housing with the country needing an additional 150,000 homes. The large influx of immigrants is proving to be a bit challenging for builders. Can the current housing market […]

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Mortgage Stress Test Changes Likely Upcoming May 24th

General Angela Calla 9 Apr

Mortgage Market Stress Test  OSFI, our Federal regulator, has announced in efforts to “cool” the mortgage market they would like the 6 big banks to increase the qualifying rate from the current 4.79, to a minimum of 5.25 or 200 basis point above the “contract rate”. Read the full release here from our economist Dr. […]

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Banking Regulator Aims To Make It Tougher To Get An Uninsured Mortgage

General Angela Calla 9 Apr

OSFI Considers Setting a Minimum Qualifying Rate of 5.25% For Uninsured Mortgages With several Big-Five bank CEOs calling for regulatory action to slow the red-hot housing market, it didn’t take long for the Office of the Superintendent of Financial Institutions (OSFI), the governor of federally regulated financial institutions, to respond. In a news release issued today, OSFI proposed an […]

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Canadian Housing Market Shows Resilience is Key: Rates holding at 0.25%

General Angela Calla 24 Mar

According to Bank of Canada, “In Canada, the economy and the housing market is proving to be more resilient than anticipated to the second wave of the virus and the associated containment measures.  Although activity in hard-to-distance sectors continues to be held back, recent data point to continued recovery in the rest of the economy. […]

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Purchases: Why Do Some Down Payments Differ?

General Angela Calla 23 Mar

Why do some purchases require a higher down payment than others?  Your purchasing journey is unique, and so are the mortgage options available along with it. This might cause a lower or higher required down payment! Here are some of the reasons it’s important to review your pre-approval specific to the property. Keep these reasons […]

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International Women’s Day Webinar: Angela Calla

General Angela Calla 19 Mar

International Women’s Day is an opportunity for women to come forward and show the world the impact we make in our community. It was an absolute pleasure to discuss my expertise with other prominent women. The webinar held by the Tri-Cities Chamber of Commerce was absolutely fantastic! In many cases, women are faced with situations […]

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Housing Continued to Surge in February

General Angela Calla 16 Mar

Today the Canadian Real Estate Association (CREA) released statistics showing national home sales hit another all-time high in February 2021. Canadian home sales increased a whopping 6.6% month-on-month (m-o-m), building on the largest winter housing boom in history. On a year-over-year (y-o-y) basis, existing home sales surged an amazing 39.2%. As the chart below shows, February’s activity blew […]

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What the Increase in Fixed Interest Rates Mean for You

General Angela Calla 3 Mar

Fixed Rates and Variable Rates follow different economic indicators. Fixed Rates are based on the bond market where we are presently seeing notable increases (approx. 12 dollars per 100k of mortgage amount with recent changes). The Bank of Canada is watching the housing market closely. While they don’t intend to raise the rates, it is […]

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