Finance Minister Bill Morneau presented his fiscal snapshot this afternoon. Most economists were expecting a budget deficit of roughly $260 billion. Instead, the government announced a deficit for the fiscal year 2020-21 of $343.2 billion–close to 16% of GDP. That compares to the $34.4 billion deficit projected before the pandemic. A big chunk of that […]

Angla Calla teamed up with the Real Estate Board of Greater Vancouver to help you navigate the market during changing times. Learn how we can help you access your equity and how a reverse mortgage might be the perfect solution for you so you don’t have to sacrifice your lifestyle. She also discusses the recent […]

The Bank of Canada released its Summer Business Outlook Survey (BOS)* this morning, covering an interview period from mid-May to early June. In all provinces and all sectors, the sentiment was hugely negative owing to the impact of the pandemic and falling oil prices. Since the previous survey, conducted before concerns about COVID-19 has intensified, but as […]

We had the pleasure of hosting a presentation on Understanding Reverse Mortgages this morning for the Safe Care Home Support community! A Reverse Mortgage can offer a solution to help you access your equity tax-free and without running any government benefits. Learn all about Reverse Mortgages in an article we wrote here. Learn how a […]

  Premier Horgan has just announced a transition to Phase 3. Public health officials and WorkSafe BC have developed most of the guidance needed to safely open. The guidelines and extra safety precautions for sectors in Phase 2 are still in place, those that can begin a gradual re-opening of businesses include: hotels, motels, resorts, […]

FIRST FORMAL REMARKS BY TIFF MACKLEM, BANK OF CANADA GOVERNOR There were no surprises this morning from Governor Macklem’s virtual presentation to the Canadian Clubs of Canada. His opening written statement was quite brief and it was followed up with a Q and A. Here are the key points that he emphasized. Negative interest rates are […]

Angla Calla teamed up with the Real Estate Board of Greater Vancouver to help you navigate the market during changing times. Learn how COVID-19 has changed the mortgage landscape, changes to the stress test, and the best mortgage advice for homebuyers. PART I PART II  Angela Calla is a 16-year award-winning woman of influence and […]

Getting pre-approved can be a vital step to the home-buying process! But don’t confuse this with pre-qualification; you can get a pre-qualification through the My Mortgage Toolbox app to determine what you might qualify for. Pre-approval, on the other hand, means that a lender has stated (in writing) that you do qualify for a mortgage […]

As exciting as it is to start your journey towards home ownership (or even up- and down-sizing), there are a few things you should consider first. Most importantly, you need to determine your purchase range. Having the proper budget for your future home is the best way to ensure future financial success! To create a […]

Owning a home remains the largest single investment for most Canadians so it’s not surprising that the fear of an economy turned upside down hits home for many. The Canada Mortgage and Housing Corporation (CMHC) recently warned the pandemic, and resulting lockdown of the economy could drive Canada’s average home prices down by 9-18%. As job […]