Property Taxes 2024

General Angela Calla 31 May

As we approach the property tax deadline, we want to remind you of the important dates and steps you need to take to ensure your property taxes are paid on time. This is particularly important for those of you who purchased a property earlier this year.

Key Dates to Remember:
•Property Tax Due Date: July 2, 2024 (some municipalities – July 3rd) check directly with your lender if you are unsure if they are included in your mortgage payment.
•Home Owner Grant Application Deadline: December 31, 2024

Your Responsibility as a Homeowner
If you purchased a property at the beginning of the year, it’s crucial to remember that paying outstanding property taxes is your responsibility. Failure to pay your property taxes by the due date will result in penalties and interest charges. Ensure you deduct any eligible Home Owner Grant (HOG) from your total tax amount before making your payment.

Claiming the Home Owner Grant (HOG) in British Columbia
The Home Owner Grant is a program designed to help reduce the amount of property taxes paid by eligible homeowners. Here’s a step-by-step guide on how to claim your Home Owner Grant:

1. Determine Your Eligibility: You must be a permanent resident of British Columbia.
•You must be a permanent resident of British Columbia.
•The property must be your principal residence.
•You must be the registered owner of the property.
2 .Understand the Grant Amount:
•Basic Grant: Up to $570
•Additional Grant: Up to $845 (for seniors aged 65 or older, people with disabilities, or surviving spouses of veterans)
3. Apply for the Grant:
•Visit the BC Government’s Home Owner Grant Application website. https://www2.gov.bc.ca/gov/content/taxes/property-taxes/annual-property-tax/home-owner-grant/apply
•Ensure you have your property tax notice on hand, as you will need the jurisdiction number and the roll number.
4. Submit Your Application:
•Fill out the application form online or submit a paper form if applicable.
•Submit the application before the property tax due date to avoid penalties on the total tax amount.
5. Receive Confirmation:
•After submitting your application, you will receive a confirmation. Ensure you keep this for your records.

Important Notes:
•Late Payments: If you do not pay your property taxes by the due date, you will incur penalties. Ensure you subtract any Home Owner Grant from your total property tax amount before paying.
•Penalties: The penalty for late payments is a significant percentage of the outstanding amount, so it is vital to pay on time.

If you have any questions or need assistance with your Home Owner Grant application, please contact the property tax office or visit the BC Government Home Owner Grant page directly.
If you have any mortgage related questions on mortgage options, renewals or a home purchase or review of finance outside your mortgage with a financial planning partner, please reply to this email and we are happy to assist.

Angela Calla is an 19-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 her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog. 

Updates – May 2024

General Angela Calla 23 May

We wanted to share some key points to consider with the expected changes ahead, particularly as we look forward to the Bank of Canada press release on June 6th. While data suggests a rate cut, it wouldn’t be a total surprise if they waited until July. When the anticipated cut occurs in the upcoming months, it is expected to be 25 basis points, which translates to a $13 reduction per $100,000 in mortgage amount for those with adjustable-rate mortgages or line of credit products.

If You Are Looking to Buy a Home
In some areas, with an increase in listings, it is currently a buyer’s market. Waiting for rates to go down may bring more buyers into the market, driving prices up and offsetting the reduced mortgage rates. This is why the Bank of Canada is cautious and slow with rate decreases. If you qualify now, you can benefit from these market conditions. You may enjoy our FREE mortgage toolbox app.

If You Can’t Qualify Now
Now is a great time to set up a plan! The RRSP limit has been increased, and the new FHSA is a great option. These, combined with other planning methods, will help you reach your goal efficiently. Simply reply to this email with your phone number, and we will have a financial planner get in touch with you.

If Your Mortgage Renewal Is Coming Up in the Next 6 Months
Reach out to us today. We conduct full rate checks before completion to ensure the lowest borrowing costs, so you won’t miss an opportunity. Working without bias is to your best advantage, allowing us to clear the clutter, simplify your life, and ensure you get the best options. We help families by conducting a comprehensive review of their finances, which can free up hundreds or even thousands of dollars monthly, setting you on a path to financial security.

Fun Stuff
-If you haven’t entered our contest to Win a Free Mortgage Payment, do so HERE.
-If you want to catch our next Mortgage Renewal Webinar, register HERE.
We look forward to connecting with you after the Bank of Canada Press Release on June 6th.
Please reach out to us directly with any mortgage questions or for an introduction to a financial planner or real estate partner.

Angela Calla is an 19-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 her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog. 

Navigating the New Capital Gains Tax: What Stock Holders and Real Estate Investors Need to Know

General Angela Calla 19 Apr

The landscape for investors, both in stocks and real estate, is evolving rapidly. One of the key changes making headlines is the proposed new capital gains tax. While aimed at the wealthy, this tax reform is also set to impact the middle class. Understanding its implications and planning accordingly is crucial for investors.

For real estate investors, the new capital gains tax could significantly affect their investment strategies. Currently, when you sell a property that is not your primary residence, you are required to pay capital gains tax on the profit. The proposed changes could increase the tax rate, impacting the overall return on investment.

Given these changes, consulting with a team of professionals is more important than ever. A qualified team can help you navigate the complexities of real estate investment, from purchase to sale. They can provide guidance on tax implications, investment structures, and strategies to optimize your returns while minimizing your tax burden.

The proposed new capital gains tax is set to impact investors across the board. For real estate investors, understanding these changes and seeking professional advice is key. By working with a team of professionals, you can navigate these changes effectively and make informed investment decisions.

 

Angela Calla is an 19-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 her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog. 

Canada’s Banking Regulator Announcement

General Angela Calla 16 Apr

Canada’s banking regulator announces cap on banks’ mortgages to highly indebted borrowers

Canada’s banking regulator is capping the amount of highly leveraged loans in lenders’ residential mortgage portfolios.

Last month, The Globe and Mail was the first to report the Office of the Superintendent of Financial Institutions (OSFI) had told banks they will have to limit the number of mortgages that exceed 4.5 times the borrower’s annual income, which is also known as a loan-to-income (LTI) ratio of 450 per cent.

In the new rules announced Friday, the regulator said that high household debt poses a risk to the “safety and soundness” of banks and the stability of the financial system.

“High LTI loans originated during the low interest rate time periods have created a long-term vulnerability to the Canadian financial system,” OSFI said. “OSFI’s LTI framework will help prevent a similar buildup of loans on books given to highly leveraged and indebted borrowers in the future.”

Residential mortgages portfolios ballooned as interest rates and prices soared, making Canadian homeowners among the most highly indebted globally.

The new income cap adds to existing mortgage qualification rules, including the federal stress test, which requires borrowers to be able to pay their mortgages if interest rates are two percentage points higher than the negotiated rate.

The measure applies to new mortgages in the bank’s overall portfolio, not to individual borrowers. By comparison, the stress test is applied to the borrower.

Even so, the limits will make it more difficult for some borrowers to get a large enough mortgage to purchase a property.

The number of highly leveraged borrowers has dropped since the COVID-19 pandemic’s real estate boom in early 2022. The amount of new mortgages with a LTI ratio above 450 per cent was 12 per cent in the last quarter of 2023, falling from 26 per cent in the first quarter of 2022, according to data from the Bank of Canada.

The new rule will only apply to new mortgages and not to existing loans or loans that come up for renewal. Banks will be allowed to exceed the income ratio for some clients, which could allow flexibility for borrowers in expensive cities such as Toronto and Vancouver.

In developing the LTI limits, OSFI sought feedback from the industry early last year on mortgage lending risks, and specifically debt serviceability. The regulator said that this approach also allows financial institutions to continue to compete in the market.

The limits apply to loans secured against a property, including a second mortgage from another lender and home equity lines of credit.

The new rule does not apply to insured loans for which the borrower must pay for mortgage insurance because their down payment is less than 20 per cent of the property’s purchase price.

OSFI will assess each bank’s loans above the 4.5 times threshold on a quarterly basis. The measure will take effect in the first quarter of next year.

(Article courtesy of The Globe and Mail – Canada’s banking regulator announces cap on banks’ mortgages to highly indebted borrowers – The Globe and Mail)

 

Angela Calla is an 19-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 her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog. 

Increase to RRSP Withdrawal Amounts, Payback and Amortization

General Angela Calla 11 Apr

The Canadian government will allow 30-year amortization periods on insured mortgages for first-time homebuyers purchasing newly built homes.

Finance Minister Chrystia Freeland made the announcement in Toronto today, saying it would take effect Aug. 1.

The Canadian Home Builders’ Association has advocated for longer amortization periods, saying five more years would help with affordability and spur more construction.

Freeland also said the government will nearly double — to $60,000 — the amount first-time homebuyers can withdraw from RRSPs to buy a home.

That’s up from $35,000, to take effect April 16, the day the federal budget is set to be released.

People who make such withdrawals between Jan. 1, 2022, and Dec. 31, 2025, are also getting more time to begin repayment — up to five years in total rather than two.

Learn more here: Putting home ownership back within reach and supporting Canadian homeowners – Canada.ca

Main take aways from this news…

1. **Expanded Home Buyers’ Plan (HBP):** The HBP withdrawal limit has been raised to $60,000, providing first-time buyers with more funds for a down payment.
2. **Extended Repayment Period:** With the longer amortization period and increased HBP limit, buyers have more flexibility in managing their finances.
3. **Financial Considerations:** Buyers should carefully evaluate their financial situation and consider the long-term implications of their mortgage and HBP choices.
4. **Consultation with Professionals:** It’s advisable for buyers to consult with mortgage advisors and financial planners to make informed decisions.

Angela Calla is an 19-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 her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog. 

2024 Canada Housing Market Report: Homebuyers Get Thrifty to Move up the Property Ladder

General Angela Calla 3 Apr

If there’s one word that could describe the Canadian real estate market in the past few years, it’s “rollercoaster.” First, 2020 and 2021 brought record-breaking home prices as the pandemic spurred Canadians to find a place to call their own. This demand, coupled with a low supply of homes for sale, led to an unprecedented run-up in home prices across the country.

This wild west of home buying ended in 2022 when rising interest rates led to a cooling of home prices across Canada. While higher interest rates meant the cost of a mortgage was higher, 2023 was the first year since the beginning of the pandemic that Canadian homebuyers could hope to purchase their homes in a buyer’s market and get the upper hand in their purchases.

Read the full article here:  2024 Canada Housing Market Report: Trends in Homebuying | Zolo

 

 

 

Angela Calla is an 19-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 her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog. 

April 2024 Newsletter

General Angela Calla 2 Apr

Welcome to the April issue of my monthly newsletter!

Spring is here! To get you ready for the season, I have included some detailed information on what you can currently expect from the housing market, plus some small reno ideas that can have a BIG impact on your home!

In addition, enjoy Dr. Sherry Cooper’s economic insights around the latest interest rates and economic trends.

Get all the details below and have an amazing month!

2024 Spring Market Expectations

The spring housing market is just around the corner! Whether you’re looking to sell, buy, or want to ensure your mortgage is in order, knowing what to expect can help.

Here is the low down on what we are anticipating for various factors affecting the housing market this season:

  • Interest Rates: While the Bank of Canada held the overnight rate steady at 5% for the past five meetings, it is expected that they will make the first interest rate cut in June or July this year, followed by additional reductions in the overnight rate to a more manageable level as the year continues. Experts are predicting that The Bank of Canada rate could drop to 3.75% by the end of 2024.
  • Housing Prices: With interest rates expected to start coming down mid-year, that means more affordability and buyers in the market. As a result, it is expected that home prices will increase this year.
  • Market Inventory: According to the Canadian Real Estate Association, the number of new properties listed has edged up 1.5% month-over-month in January, with this expected to rise as the interest rates drop.?

Looking to buy? For those of you who may be looking to purchase a home this Spring, here are some things that can help you be prepared:

  • Get your finances ready by paying off as much of your debt as possible to improve your debt-to-income ratio and ensure you qualify for the best rate possible.
  • Obtain a mortgage pre-approval before starting your search. This helps you understand your budget and makes your offer more appealing to sellers.
  • Clearly define your priorities and preferences for a home. This will help streamline your search and make decisions more efficiently, especially as the market becomes more competitive.

First-time homeowner? Take advantage of first-time home buyer assistance if you have not been a homeowner in the past. You can find out more on the Government of Canada website here.

Looking to sell? If you want to sell your home this Spring, you will want to be ready to take advantage of the market! Some things you can do include:

  • The first step is to find a reliable real estate agent who can help you with pricing and listing your home for sale. Not sure who to call? I can provide some references!
  • Allow for open houses during evenings and weekends whenever possible to ensure you’re maximizing potential buyer foot traffic.
  • I have even more tips on decluttering and getting your home ready to sell below!

 

Want to renew or refinance? If you’re not looking to sell or buy this Spring, you may still be looking for mortgage advice or assistance with your home and finances. Now is a great time to make sure your mortgage is working for YOU! With so many renewals coming up this year, keep in mind there are several benefits to taking time to review your renewal before you sign:

  • Get a Better Rate: With interest rates expected to come down, taking time to reach out to me and shopping the market could help save you money!
  • Consolidate Debt: Renewal is a great time to take a look at your existing debt and determine whether or not you want to consolidate it onto your mortgage. In most cases, the interest rate on your mortgage is less than you would be charged with credit card companies or other forms of financing you may have.
  • Start on that Reno: Do you have projects around the house you’ve been dying to get started on? Renewal time is a great opportunity for you to look at utilizing some of your home equity to help with home renovations so you can finally have that dream kitchen and updated bathroom, or even utilize it to purchase a vacation property!
  • Change Your Mortgage Product: Are you not happy with your existing mortgage product? Perhaps you’re finding that your variable-rate or adjustable-rate mortgages are fluctuating too much and you want to lock in! Alternatively, you may want to switch to a variable as interest rates level out. You can also utilize your renewal time to take advantage of a different payment or amortization schedule to help pay off your mortgage faster!

No matter your plans for this month or the coming season, don’t hesitate to reach out to me for expert mortgage advice!

Small Home Improvements That Make a BIG Impact

Whether you’re looking to sell your home this year, or just want to make some updates, I have put together six small home improvements that can make a BIG impact on your space! From improving sale ability to refreshing your home, here are some simple and affordable ideas to help get you started:

  • Painting: One of the easiest ways to spruce up your home for a refreshed vibe or sale is to add a new coat of paint! While it is a relatively simple task for a new homeowner to take on, you might be surprised at how many people will pass on a house because they are not a fan of the paint colors or the flooring. A fresh coat of paint – especially more neutral colors such as beige, cream, light grays, and soft blues or greens – can do wonders to make a home feel appealing.
  • Light Fixtures: I don’t know about you, but I haven’t taken a good look at my light fixtures in a while. However, potential buyers will! Light fixtures are another low-cost and relatively easy improvement you can make to your home. Upgrading to newer styles and ensuring they are clean, with fresh LED bulbs, will help add an extra sparkle to your home!
  • Update Your Hardware: Another overlooked aspect of a home are light switches and door handles. If your home is 20 years old, most likely your white light switch covers are not so “white” and your door handles are a little worn down. These are a cheap and easy replacement that will go a long way to boost your interior!
  • Swap Out Your Window Coverings: Just like with a fresh coat of paint or new hardware, swapping out your window coverings is a small change that can make a big impact. Change your stale, white plastic blinds for wooden slats, or update your curtains to something fresh and vibrant!
  • Refinish Your Cabinets: The kitchen is known to be a central space in most homes, but did you know roughly 80% of homebuyers feel that it is the most important space to consider when deciding on a new home? While a full kitchen renovation may be out of the question and all-new kitchen cabinets can cost thousands, there is a third option. Refinishing or repainting your cabinets is a great alternative for breathing new life into your kitchen!
  • Curb Appeal: They say don’t judge a book by its cover but, when it comes to selling your home, first impressions matter. This is where curb appeal comes in! If a potential buyer pulls up to see overgrown weeds, clogged gutters, or cracked concrete, they are already going to have a negative impression of the home and it will be harder to impress them once they are inside. Attending to landscaping and any outside maintenance needs will go a long way in making your home more appealing. A pressure wash and a new coat of exterior paint can also do wonders to give your home a facelift!

By putting the effort into completing a few small changes around your home, you can reap big rewards when it comes time to sell – and increase your comfort in the interim!

 

Economic Insights from Dr. Sherry Cooper

The Bank of Canada’s Governing Council was split on the timing of rate cuts this year when they deliberated before the March press release. But the February inflation data signaled that rate cuts should be coming soon. After all, inflation has slowed markedly along with the economy.

While the unprecedented influx of new immigrants has boosted economic activity, the overall outlook for consumer spending will be dampened by the large volume of mortgage renewals in the next two years. Many will suffer a double-digit monthly payment increase, undoubtedly dampening discretionary spending. High food prices already burden consumers. Even though food inflation has diminished, prices have not fallen.

 

A June rate cut is coming, and there is even a possibility of an easing in monetary policy at the April 10 meeting. The spring housing season will be buoyant. Home prices already began to rise in February. And while home sales have been weak, the sunshine might entice the pent-up supply of existing homes to the market. For every move-up and downsizing buyer, there is a new listing on the other side.

First-time homebuyers may also start to take the plunge for fear that prices will rise further. They can lock in a two- or three-year fixed-rate mortgage if they are nervous. Many have been saving their money since 2022.

The Alt-A market is also poised for a pick-up as many more alternative lenders have strong balance sheets and well-diversified portfolios and talk about creating a demand for Alt-A mortgage-backed bonds. These would be relatively high-yielding bonds with reasonable credit ratings owing to the diversity of mortgages from every province in Canada.

There will be challenges and intense competition with new digital lenders increasing for the first time in Canada—much delayed from the US market innovation. Mortgage brokers need to be experts in a much more comprehensive array of products and solutions, many of them new.

 

Angela Calla is an 19-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 her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog. 

Hidden cameras capture bank employees misleading customers, pushing products that help sales targets

General Angela Calla 18 Mar

Critic says finance minister must do much more to protect consumers.

Michelle Jeraline says she’s so stressed out by the pressure to sell customers products at TD Bank, it’s affected her health.

The TD employee says she’s usually not acting in the best interest of her clients — she’s trying to sell them products that will help her meet sales targets and keep her from being fired.

Read the full article here: Hidden cameras capture bank employees misleading customers, pushing products that help sales targets | CBC News

Angela Calla is an 19-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 her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog. 

Hidden camera reveals how bank employees mislead and upsell on pricey credit card insurance

General Angela Calla 18 Mar

Tactics used to sell credit card balance protection ‘problematic’ and ‘high risk’ to consumers, watchdog says

Read the full article here: Hidden camera reveals how bank employees mislead and upsell on pricey credit card insurance | CBC News

 

Angela Calla is an 19-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 her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog. 

No Recession In Canada, As Q4 GDP Growth Rose 1%

General Angela Calla 6 Mar

Still No Recession In Canada Thanks to Huge Influx of Immigrants

Real gross domestic product (GDP) rose a moderate 1.0% (seasonally adjusted annual rate), a tad better than expected and the Q3 contraction of -1.2% was revised to -0.5%. This leaves growth for 2023 at a moderate 1.1%. Monthly data, also released today by Statistics Canada, showed that December came in flat, well below the robust flash estimate, while the January preliminary estimate was a strong +0.4% (subject, of course, to revision). The January uptick was driven by the return of Quebec public servants and a mild winter.

The fourth quarter growth was fueled by higher oil exports and was moderated by a significant decline in business investment. Housing investment declined again in Q4–a sixth decline in the last seven quarters. Despite increased activity in Q4 new residential construction and renovations, it was more than offset by a large drop in home ownership transfer costs, reflecting the weakening resale market across Canada. Single-family units and apartments led the rise in new construction, as all provinces and territories, except Prince Edward Island, post a rise in housing starts.

Investment in non-residential structures fell sharply, as did spending on machinery and equipment, especially on aircraft and other transportation equipment. Even government spending declined.

Bottom Line

This is the last major economic release before the Bank of Canada meets again on March 6. The central bank will hold interest rates steady at next week’s meeting, and while some are suggesting the first rate cut this cycle will be as soon as the April confab, the consensus remains at June. With the uptick in growth in Q4, there is no urgency for the Bank to ease.

Policymakers will wait for their favourite core inflation measures to fall within the 1%-to-3% target band. They know that GDP per capita is falling and that mortgage renewals at higher interest rates will dampen household discretionary income. That’s why a June rate cut is widely expected.

(Article courtesy of Dr. Sherry Cooper, Chief Economist, DLC)

 

Angela Calla is an 19-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 her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog. 

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