I hope everyone is staying safe and keeping peace of mind.  During this time, I am receiving a lot of requests for clarification on how lenders are  we dealing with applications where clients income has unfortunately been interrupted. While most lenders will likely follow this for insured files its important you confirm directly with your […]

Hopefully, you are doing well during these uncertain times.  We hope you have been receiving our ongoing communications we sent last week with the lender’s numbers and up-to-the-moment updates as they become available through our Facebook page.  While response times are delayed, I wanted to take a moment to answer some common questions to help […]

We hope that you’re staying healthy through these changing times.  It’s business as usual here at our office and the lenders have all been communicating with us that their policies are changing rapidly and they are working very hard to reduce wait times.   They are doing everything they can to assist everyone.  The current wait […]

We know some people are going through a life transition, or making investment decisions that involve a property purchase. Here are a few things to consider to help you make the best decisions for you. Where is your down payment coming from?  If it’s coming from the investment market, or upcoming wages, or gift that’s […]

With all the updates that keep pouring in, we would like to invite you to see these as they happen by following our Facebook page: https://www.facebook.com/angelacallamortgageteam/ In efforts to keep this short for you as I’m sure you have received lots of emails over this past week on our Facebook page you will find the below […]

In light of the recent nose dive mortgage rates have taken, it’s a great opportunity to potentially save money, especially in these 4 stages of life. Looking to make a property purchase or renovation Have a mortgage renewal upcoming Have debt outside of your mortgage with interest over 3% Anyone who has a mortgage over […]

Canadians are more in debt than ever. The average Canadian owes roughly $1.70 for every dollar of earned income per year after taxes, two in five Canadians don’t think they’ll ever get out of debt, and more than a third of Canadians have no retirement savings, according to a 2019 survey. But building home equity and consolidating debt into […]

Here is our first decrease in the Bank of Canada prime rate for 2020. Here is the full report from today Bank of Canada and the next meeting is April 15th 2020. What does this mean for consumers? Since 2016, lenders started breaking the norm in terms of discounts being passed along to consumers as they were […]

Good Afternoon, Today it was announced there will be changes to the mortgage stress test April 6th 2020 for insured mortgages. The change will be the contract plus 2%. As an example, that takes the current stress test from some lenders at 5.19% to 4.79% as a qualifying rate once effective. Below is the full press […]

There may be a little relief coming for condo owners who may be affected by the skyrocketing Condo Insurance premiums. The IBABC is getting involved by proposing two main reforms to provincial legislation: a $50,000 cap on the deductible assessment and non-insured loss assessment a change in standard definition of a strata unit to ensure […]