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
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
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
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,
I had the pleasure of speaking at and attending our lenders group conference last week, where Ryan McLaughlin from BCREA provided an insightful overview of the current economic landscape. Here are my key takeaways: State of the Macroeconomy: • Last spring, the economy was cooling and sinking. • Now, rates are dropping for the first
As the deadline for property taxes approaches, it’s essential to claim your Home Owner Grant and make your payments on time. Here are the steps and links you need to ensure everything is in order. How to Claim Your Home Owner Grant: 1. Check Your Eligibility: Most homeowners who live in their home as their
In a significant move, the Bank of Canada has announced a reduction in the overnight lending rate by 0.25%, bringing it down to 4.75%. This is the first rate drop since the upward spiral began, signaling potential economic softening and offering new opportunities for homeowners and buyers alike. Prime Rate Impact: As a direct result,
As we step into Spring 2024, the BC Budget has brought forward some significant changes that promise to reshape the landscape for first-time homebuyers and small business owners alike. At Cultivate + Evolve Financial, we’ve been closely monitoring these developments, eager to explore how they can benefit our cherished clients and community. Empowering First-Time Homebuyers
Hello, I hope this message finds you well. As we transition into the holiday season, it’s essential to stay informed about significant developments that may impact your financial decisions. November was a month filled with noteworthy headlines, and I’m excited to share insights on key topics with you. Let’s dive into the headlines that captured
This week brought noteworthy updates from the BC Government, specifically the introduction of the Short-Term Rentals Accommodations Act. Here’s a breakdown of key points you should be aware of: The act introduces a new principal residence requirement that limits short-term rentals to: The host’s principal residence, which is the dwelling where an individual resides for