Starting in 2010, lenders had to ensure that borrowers getting variable or 1- to 4-year fixed mortgages could afford payments at the 5-year posted rate. That rule applied to mortgages with less than 20% equity.   In 2012, OSFI asked federally regulated lenders to apply the same rule to all variable and 1- to 4-year […]

The Bank of Canada should keep its key interest rate on hold until economic data persuades it otherwise, Central Bank Chief Stephen Poloz said on Tuesday, adding that he was not worried about calls from some international players to tighten policy.  His comments follow controversial remarks by Canada’s finance minister on Sunday suggesting there would […]

A lawyer and respected real estate veteran is offering a fresh warning for those enlisting the help of family members for a down payment – a word of caution brokers should share with all first-time buyers and, indeed, their parents. “If the parents try to transfer the 1 per cent back to the kids without […]

The Angela Calla Mortgage Team reported on this back in April and here it is again in The Globe & Mail. The story in the link provided below contains great details and a side by side comparison where there is over a $3,000.00 difference in savings. This goes to show you there is more behind choosing a […]

As heard on this weeks Mortgage Show on CKNW with Angela Calla. To get pre approved for this property or any other purchase email us at callateam@dominionlending.ca or call 604-802-3983 This weeks deal of the week has been brought to you by: http://rboies.mlslink.mlxchange.com/?r=83500299&id=32313935343534.366 Robert Boies Royal LePage Coronation West cell: 604 341 3009 t: willingtwo E-mail: robboies@royallepage.ca […]

Jim Flaherty says interest rates are heading higher regardless of central bank actions Interest rates are going to go up over the long term regardless of what central banks do at the moment, Finance Minister Jim Flaherty said on Thursday after the European Central Bank unexpectedly trimmed rates. The bank cut rates to a record low […]

There are numerous reasons why homeowners choose to refinance their mortgages – everything from debt consolidation to freeing up money for their child’s education to using their home equity to buy another property. But the most popular reason for refinancing at this time of year is for holiday gift buying and entertainment. Planning ahead really […]

A major TV news program calls out TD Canada Trust’s collateral mortgage.  CBC Marketplace aired an episode called ‘Busting the Banks’ on January 25th.  If you want to skip to the video link, just click here and scroll to the 8:00 min mark. During the program, CBC took a hidden camera into a TD branch….the […]

The Bank of Canada has kept interest rates low for 3 years now and while rates are low, reading between the lines make the following the top 3 take aways 1. The forcast is downgraded. This means they intend to keep there rate low, longer. 2. The variable rate mortgage will continue to be a great […]

We have seen a significant number of first time homebuyers reviewing their options to purchase a home, market confidence remains high. http://www.theglobeandmail.com/news/british-columbia/bc-housing-rally-expected-to-continue-through-2014/article14979458/ Questions on the best plan for the lowest cost of home ownership? Contact the Angela Calla Mortgage Team today 604-802-3983 callateam@dominionlending.ca