Today the Bank of Canada lowered it’s Overnight Target rate to 4.50% offering a little bit more relief to Canadian consumers suffering under the weight of high mortgage rates and other borrowing costs.  This puts us back to what the rate was in June 2023. Here’s a few quick highlights I have summarized from a variety of […]

Financial Tips for Recent Graduates: Managing Money After School Ends Whether you are a post secondary graduate or a high school graduate, it’s never too early to gain financial knowledge to build a bright future.  As a graduate, you’ve endured years of hard work, late-night study sessions, and perhaps a few too many instant noodles. […]

Canadians are leaving money on the table by not negotiating their mortgage renewal rates.  Why?  Most likely because they do not have a professional representing them. In the face of higher costs more Canadians are changing their grocery shopping habits, hunting for bargains, and switching to lower-cost brands — yet many are leaving money on the table when it […]

Calling all First Time Home Buyers! Did you know that as of August 1, 2024, you will be eligible for a 30 year Amortization when you have less than 20% down? Today the maximum time frame is 25 year amortization so this is a big help for affordability.   The example below is based on […]

From our partners at First National Financial, here is some insight on the Bank of Canada announcement and rate drop. Today, the Bank of Canada reduced its overnight policy interest rate by 0.25% to 4.75%. This welcome and widely expected decision comes on the heels of evidence pointing to a deceleration of the rate of […]

Home owners and real estate and mortgage professionals have all been waiting patiently for the past two years for some relief in interest rates and June 5, 2024 may be our lucky day! Last Fridays reporting on GDP (gross domestic product) came in at a disappointing number for the Bank of Canada (BoC) at 1.7% […]

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 […]