Our partners at Spagnuolo Real Estate Lawyers has provided some clarity to the recent changes announced for Property Transfer Tax in BC and First Time Home Buyers.  Here is an outline below: PTT Exemptions: Based on Completion Date or Contract Date? The Completion Date appears to be the only thing that matters. There does not […]

On Wednesday, the Bank of Canada (BoC) left rates unchanged, noting it still remains concerned about the risks of inflation, even as the Consumer Price Index (CPI) came in at 2.9% in January. It also reiterated its pledge to continue its policy of quantitative tightening.  Although inflation came in under expectations and data is leading […]

The Canada Emergency Business Account Loan is a program that offers interest free loans to small businesses and not-for-profit companies of up to $60,000. Thousands of businesses have taken advantage of these loans during the pandemic. Businesses have until January 18, 2024 to repay their CEBA loan. After this date, outstanding loans will convert to […]

Winter home maintenance is important to ensure your property remains in good condition & you and your family stay warm. Here’s a checklist to get you started and ready for whatever conditions come your way! Indoor Winter Maintenance: Heating System: Schedule a professional inspection and maintenance for your heating system. Replace the furnace filter to […]

Good news today with the Bank of Canada’s last announcement for 2023 and they have left the overnight target rate, which affects the Prime rate unchanged for the past 5 months.  Prime is currently at 7.20%. This means no rate or payment changes for Variable Rate mortgage holders.  Here’s a visual on what the BoC […]

Get to know the basics before you choose your mortgage. You must select the most important to you – lower rates or flexibility. Take some time to study mortgage types: Closed Mortgage: A closed mortgage is best if you want consistent rates. Interest rates are typically lower (and do not change with the length of […]

November is Financial Literacy Month, and we have the tips to ensure your financial game is on point this Fall as we head into the New Year! Nail Down Your Budget Understanding the basics of budgeting and tracking your income versus spending is fundamental to financial literacy and control. Building a budget can help you […]

Even though Fall has already started, there are a few things you can do still to ensure your home is well-prepared for the season: Examine Your Gutters: This time of year it is important to clean and inspect your gutters (replacing as needed) to ensure they are working properly as the rain and snow season […]

As rising household debt puts our country’s financial system on edge, new guidelines from the Office of Superintendent of Financial Institutions (OSFI) have taken effect today, November 1st, that will reduce some Canadian homeowners’ borrowing power. Those who have a Combined Loan Plan should have received a letter from their bank on whether they have […]