Low Rates Helping Borrowers Pay Off Mortgages at Record Pace

General Angela Calla 29 Jun

Home prices may be astronomical in certain parts of the country, but historically low mortgage rates are allowing borrowers to pay off their mortgages faster than ever. At today’s average rates, 61% of a new homebuyer’s very first mortgage payment is going towards principal repayment, according to data from Edge Realty Analytics. In the early 2000s, […]

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Bank of Canada Holds Rates and QE Steady–Asserting That Both the Upside in Inflation and the Downside in GDP is Temporary

General Angela Calla 9 Jun

The Bank of Canada left the benchmark overnight policy rate unchanged at 0.25% and maintained its current pace of GoC bond purchases at its current pace. The Governing Council renewed its pledge to refrain from raising rates until the damage from the pandemic is fully repaired. The $3 billion weekly pace of bond-buying–known as quantitative […]

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Housing Drove the Economic Expansion in Q1

General Angela Calla 7 Jun

This morning’s Stats Canada release showed that the economy grew at a 5.6% annualized rate in the first quarter, after a revised 9.3% pace in the final quarter of last year. That was somewhat below economists’ expectations. Housing investment grew at an annualized 43% pace, by far the biggest impetus of the expansion. Residential investment […]

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Introducing the First Responder Mortgage Program™

General Angela Calla 4 Jun

To gesture our appreciation to our First Responders across the country we created a program specifically for them! The First Responder Mortgage Program™ is our way of saying THANK YOU. Who is Eligible: The First Responder Mortgage Program™ is open to the following individuals: Police Officers Paramedics Firefighters (employed and volunteering) Correctional Services Border Services Search & Rescue […]

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NEW Mortgage Stress Test | How it will affect YOU

General Angela Calla 1 Jun

Further to the original announcement in early April, the new mortgage stress test released on June 1st has officially increased for home purchases and those looking to refinance. This has caused a decrease in their borrowing power by about 5%. To put this in perspective, if they were approved for 1 million dollars, that is reduced […]

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Variable Rate Mortgage? The Time to Act is Now

General Angela Calla 20 May

The Time to act is now! If you or someone you care about has a mortgage with a discount below .50%, it might be worth it to redo your mortgage. Why? The lower variable rate discounts have reached an all time low. This opportunity may potentially save you money! Please note, it will be subject […]

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Unique Mortgage Program Launching for First Responders

General Angela Calla 17 May

We are so proud to announce we have teamed up with our banks to develop a special mortgage program to financially support our First Responders. On June 1st, there will be special discounted and cashback offers available for: Police Officers Paramedics Firefighters (Volunteer & Employed ) Correctional Services Border Services Search & Rescue (Volunteer & […]

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The New Normal: Expert Insights As Canada Emerges From The Pandemic

General Angela Calla 13 May

As Canada emerges from the pandemic, its various industries are spinning back up, hoping beyond hope that their businesses not only recover, but come back stronger than ever. Without our small businesses, we don’t have anything. To that end, we’ve spoken to eight businesspeople across a cross-section of Canadian financial-based businesses, from trustees to loan […]

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