Here is a summary of Canada’s households and mortgages (see chart below). Does this chart surprise you? Angela Calla is an 18-year award-winning woman of influence which sets her apart from the rest. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through […]

The latest news has been focused on rising interest rates, surging inflation, and economic uncertainty with suggestions that the Canadian economy could be tripped into recession. With all this information circulating, now is a good time to discuss ways to adapt your finances and protect your future. Fortunately, there are a few key things you […]

The Bank of Canada today published its 2023 schedule for the release of its policy interest rate decisions and quarterly Monetary Policy Report. The dates are as follows: Wednesday, January 25* Wednesday, March 8 Wednesday, April 12* Wednesday, June 7 Wednesday, July 12* Wednesday, September 6 Wednesday, October 25* Wednesday, December 6 The Bank also reconfirmed the scheduled […]

The Bank of Canada over the past 30 years has had six periods of interest-rate hikes, ranging from 1.25 to 3.2 percentage points, before this most recent set in 2022. The one thing they all had in common was that it didn’t take long for each of them to be followed by a period of […]

Mortgage specialists say they’re busier than usual these days answering panicked calls from Canadians holding a variable mortgage or set to renew who want to know how to save money in the face of rising interest rates. Earlier this month, the Bank of Canada raised its benchmark lending rate a full percentage point, bumping it up […]

For any of you who are waiting to lock into a fixed-rate mortgage, you may want to watch the rates closely over the next little bit. Fixed rates are based on the bond market. Angela Calla is an 18-year award-winning woman of influence which sets her apart from the rest. Alongside her team, Angela passionately […]

For those that missed it, the BC Speculation and Vacancy Tax has been expanded to include Lions Bay, Squamish, North Cowichan, Duncan, Ladysmith and Lake Cowichan. This will not affect any closings, but any potential buyers of properties in these areas should be told of the requirement to file an annual declaration. The government also […]

“A new homebuyer protection period will protect people in B.C. looking to buy a home from being pressured into high-risk sales.” You can read the full announcement here. A short summary of the change: The homebuyer protection period will come into effect on Jan. 1, 2023. It includes a cancellation fee of 0.25% of the […]

Given the recent increase in the Prime Rate, we want to provide clarification regarding the application of the minimum qualifying rate on Adjustable Rate Mortgages (“ARM”), insured and conventional.  All ARM loans must now be qualified using a rate of contract plus 2%, which is now greater than the 5.25% Qualifying Rate. Existing First National […]

Canadian Inflation Surged to 8.1% in June Another bad inflation number was posted today. The rate of consumer inflation continued to rise, reaching 8.1% year over year (y/y) in June, following the 7.7% gain in May. The increase was the largest yearly change since January 1983. The acceleration in June was mainly due to higher […]