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Posted by: Alisa Aragon-Lloyd
By Alisa Aragon-Lloyd, as seen on “New Condo and Guide” magazine, November 27th 2021. Many Canadians find themselves bogged down with a bad credit rating for the wrong reason – illness, losing a job, or simply not understanding consumer credit. Sometimes bad financial situations happen to good people and bankruptcy is the only way out. But […]
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By Alisa Aragon-Lloyd, as seen on “New Condo and Guide” magazine, October 16th 2021. Receiving a mortgage approval is more than having the down payment. Some of the things lenders also consider are your income, employment history, credit history, and property. So, you have saved enough money for the down payment and you are excited […]
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Blockbuster September Jobs Report – Further Fuel For Rising Interest Rates Statistics Canada released the September Labour Force Survey this morning, providing some unmitigated good news on the jobs front. Employment rose by 157,000 (+0.8%) in September, the fourth consecutive monthly increase. The unemployment rate fell by 0.2 percentage points to 6.9%. Employment gains in […]
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How awesome does it feel to have a positive impact on the lives of others – especially those who need it most. I’m taking the leap! This is for charity, so I am sending this email to you, to personally ask for your support to help me raise funds to support Easter Seals and their […]
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This morning’s Stats Canada release showed that the July CPI surged to a 3.7% year-over-year pace, well above the 3.1% pace recorded in June. This is now the fourth consecutive month in which inflation is above the1% to 3% target band of the Bank of Canada. And given the flash election, opposition parties are already […]
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* New Stress test Rules As expected, the Office of the Superintendent of Financial Institutions (OFSI) confirmed that it will move ahead with the proposed new stress test which was announced in April. This will affect any uninsured mortgages which would affect anyone buying a property with more than 20% down payment, or anyone refinancing […]
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We hope you are doing well! We wanted to remind you to apply for the BC Homeowners Grant if you are eligible. To apply for the grant, you have to complete the application sent with your tax bill and return to local municipality. In most municipalities, you are able to apply for the Homeowner Grant […]
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By Alisa Aragon-Lloyd, published in “New Home and Condo Guide – Vancouver” The Canadian government has implemented credit card regulations, which it says increase transparency and protect consumers. Here are some of the new regulations now in place: • Credit contracts and application forms must have a “summary box” that clearly explains interest rates, fees, and […]
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What is All the Policy Hysteria About? Today the Canadian Real Estate Association (CREA) released statistics showing national existing home sales hit another all-time high in March. What was arguably more noteworthy was that new listings hit their highest level on record in seasonally adjusted terms in March. Prices continued to rise as sales dwarfed […]
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With several Big-Five bank CEOs calling for regulatory action to slow the red-hot housing market, it didn’t take long for the Office of the Superintendent of Financial Institutions (OSFI), the governor of federally regulated financial institutions, to respond. In a news release issued today, OSFI proposed an increase in uninsured mortgages’ qualifying rate to the […]
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