As if 5% wasn’t already a STRETCH here in the Lower Mainland… it “could” be moving up. We are just fine with 25 year amortization as well. I suggest the Gov’t take a peek at CONSUMER SPENDING not housing…   It’s the purchase of depreciating assets and the “fun factor”  that are getting folks in trouble […]

There are MANY things to consider when picking a mortgage.To pick the best formula for your situation, you’ll first need to understand the factors that impact how much interest you’ll end up paying for your mortgage loan. MoneySense Magazine explains it all . Read & Share. Want to ensure you have the #bestmortgage? The #CallaTeam […]

Are there pitfalls to the “early mortgage renewal”? The Globe & Mail highlights six excellent points to consider. Consider ALL switching costs and savings Consider the risk of rising rates Don’t overestimate the risk of rising rates Factor in the hassle element Shop around (or use a mortgage broker!) Don’t succumb to pressure tactics Lots of great information […]

A Canada Mortgage and Housing Corporation (CMHC) survey suggests more than half of first-time home buyers are using mortgage brokers to get financing. Read the full article from CBC news HERE Questions on determining the best mortgage for you and your future? The Angela Calla Mortgage Team is here to help call us at 604-802-3983 or callateam@dominionlending.ca We look forward […]

According to the Canadian Association of Accredited Mortgage Professionals (CAAMP), first-time home buyers are the MAIN drivers behind housing markets across Canada! LOTS of great stats in this Calgary Sun piece. Read the Full article HERE The Angela Calla Mortgage Team is here to help you personally with your mortgage related questions contact us directly at 604-802-3983 or […]

1.  This is now the lowest prime rate we have seen since 2009.   There have been 2 prime rate reductions already this year. 2. The banks don’t always respond and reduce their Bank Prime Rate.  They pocket the difference as a profit when they are borrowing money, so it’s common after a rate reduction for […]

  Having trouble viewing this email? Click here   Good Morning, Prime was reduced this morning from the current .75% to .5%. Bank Prime is different than The Bank of Canada Prime Rate. Here is the press release from this morning. http://www.bankofcanada.ca/2015/07/fad-press-release-2015-07-15/ Like earlier this year the Banks will not likely follow this adjustment in its entirety. One large […]

  In Canada we have an extremely low foreclosure rate compared with other parts of the world. By most estimates we currently hover at around 0.30%. The US is closer to 1.2%, and Greece is hitting as high as 33%. Credit our tightly regulated lending environment for that rate not rising past 0.40%, even during […]

One headline suggests interest rates are bound to rise soon, the next suggests they may drop to new lows, and a third suggests no changes anytime soon. This has been the case since rates dropped to 50-year record lows in 2009. Many were adamant that rates could go no lower at that point, and yet […]

Angela- Thank you and your team for ALL your help. Here we are a year in our 1st home, and we are SO grateful our friend Pamela suggested your help. If we had listened to our “bank” we would have been financially doomed and missed out huge- here is how: 1. Houses in our area […]