General Angela Calla 25 Sep
Banking regulator to relax stress-test rules for homeowners switching lenders at mortgage renewal. Canada’s banking regulator is set to relax mortgage rules for homeowners who switch banks when they renew their loans. The Office of the Superintendent of Financial Institutions (OSFI) will no longer require banks to apply the mortgage stress test on borrowers who […]
Read MoreGeneral Angela Calla 25 Sep
The Attainable Housing Initiative (AHI or Initiative) provides approximately 2,600 strata leasehold homes at an initial 40 percent below market value at the Heather Lands in Vancouver. The Initiative is intended to provide homes that middle-income, first-time homebuyers can own themselves and live in. It is not intended as an investment vehicle, to generate homes for rent, or […]
Read MoreGeneral Angela Calla 25 Sep
In today’s ever-changing mortgage environment, we understand the challenges, especially when it comes to understanding as a clients the intricacies of Interest Rate Differential (IRD) penalties. We’re here to support you every step of the way. Our products that we offer you before we go to one of the big banks are designed to not only meet your immediate needs […]
Read MoreGeneral Angela Calla 18 Sep
In my recent Global News segment, I discussed exciting updates that could make a big difference for homebuyers and those with upcoming mortgage renewals. Here are some key takeaways to share with you and your loved ones: Insured Change Cap: This isn’t just for First Time Buyers—it benefits right-sizers who could be moving up the […]
Read MoreGeneral Angela Calla 17 Sep
More Good News On The Canadian Inflation Front The Consumer Price Index (CPI) rose 2.0% year over year in August, the slowest pace since February 2021, and down from a 2.5% gain in July 2024. core inflation measures averaged 2.35% y/y and excluding mortgage interest, headline inflation was a mere 1.2%– well below the Bank’s […]
Read MoreGeneral Angela Calla 16 Sep
Exciting News to Help Homebuyers and Those up For Renewal Annouced This Morning, Top Points from Today’s Mortgage Changes Announcement: Higher Price Cap for Insured Mortgages: Starting December 15, 2024, homebuyers can purchase properties up to $1.5 million with less than a 20% down payment. This adjustment allows more homes to qualify for insured mortgages, […]
Read MoreGeneral Angela Calla 12 Aug
Weaker-Than-Expected July Jobs Report Keeps BoC Rate Cuts In-Play Canadian employment data, released today by Statistics Canada, showed a continued slowdown, which historically would have been a harbinger of recession. This cycle, immigration has augmented the growth of the labour force and consumer spending, forestalling a significant economic downturn. Employment declined again in July, down […]
Read MoreGeneral Angela Calla 24 Jul
We hope you are enjoying summer. We are pleased to share some positive news regarding the recent Bank of Canada rate announcement this morning. Prime Rate has decreased which will impact Adjustable Rate Mortgages (ARM’s) and Lines or Credit by approx. $13 dollars per $100k, while working to reduce the amortization of Variable Rate Mortgage […]
Read MoreGeneral Angela Calla 10 Jul
Myth: There will be nothing left for my kids if I take a Reverse Mortgage “I have kids so I don’t want to leave nothing for them”. I hear this and it’s not an accurate statement. A reverse mortgage is not only suitable for people without kids or for those not concerned with passing anything […]
Read MoreGeneral Angela Calla 2 Jul
Welcome to the July issue of my monthly newsletter! Things are starting to heat up as we head into July! For those first-time buyers looking to purchase a home, I have all the details for you below! For those other homeowners hoping to stay cool and enjoy their spaces this season, scroll down for tips […]
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