If you’re considering making improvements to your property by adding secondary suites such as laneway homes or basement suites, there’s significant news that could impact your financing options. The insured mortgage landscape is evolving, allowing for more flexible refinance solutions that may be beneficial to homeowners like you. Here’s what you need to know: New
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The recent US Election, with its sweeping results impacting the Senate, House, and White House, has many Canadians reflecting on how this shift could affect our financial landscape. One significant repercussion is the potential movement in bond yields and, subsequently, mortgage rates. The Current Outlook Despite the Bank of Canada (BoC) cutting interest rates, there
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The housing market is a key indicator of economic health, and recent data provides interesting insights into where we stand. Let’s dive into the numbers and what they mean for homeowners and potential buyers. Recent Housing Starts Data: In July 2024, we saw a significant surge in housing starts: • 16% increase month-over-month • Total
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In today’s economic landscape, inflation is a hot topic that directly affects homeowners and potential buyers. Let’s break down the current trends and what they mean for your mortgage. Current Inflation Trends As of June 2024, the Consumer Price Index (CPI) stands at 2.7%. However, when we remove mortgage interest from this equation, the figure
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Mortgage renewal is a critical financial moment for homeowners. With significant numbers of mortgages coming due in the next few years, it’s crucial to be prepared. Here’s your guide to a successful mortgage renewal. The Renewal Landscape Current projections show: • 2024: 250 million dollars in mortgages maturing • 2025: 300 million dollars in mortgages
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In our interconnected global economy, the value of the Canadian dollar plays a crucial role in shaping our mortgage landscape. Let’s explore how currency fluctuations impact mortgage rates and what it means for homeowners and potential buyers. Current State of the Canadian Dollar As of our latest data: • The Canadian dollar is currently trading
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Consumer spending and the housing market are deeply intertwined, each influencing the other in complex ways. Let’s explore this relationship and what it means for homeowners and the broader economy. Current Consumer Spending Trends Recent data shows: • Retail sales growth is at 0.2% • This is significantly below the historical average of 4.69% since
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Bank of Canada Cuts Rates: Your July 2024 Financial Update As we reach the peak of summer, I hope this newsletter finds you well and enjoying the season. I apologize for the slight delay in getting this out to you – with school being out, I’ve been savoring precious family time and soaking in the
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Now for the excitement I hinted at earlier! We’re thrilled to announce the launch of our “Okanagan Summer Sizzle” Giveaway, celebrating the finest in Kelowna’s summer grilling and al fresco dining scene. We’ve partnered with local businesses to curate an incredible prize package consisting of: Premium locally-sourced grill-worthy proteins Award-winning Okanagan wines to complement your
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Last-Minute Tax Filing for Self-Employed Individuals: Deadline Tomorrow Are you a self-employed individual in Canada? If so, tomorrow marks an important deadline for you: the tax filing deadline for businesses for self. Here’s why it’s crucial to file on time and how Cultivate + Evolve Financial can help if you have concerns about tax payments,
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