Candice Joa, Mortgage Planner with The Mortgage Minds Inc.

Candice Joa, Mortgage Planner with The Mortgage Minds Inc. As a mortgage planner with over 15 years of financial services experience I can help you with all of your real estate lending needs.

Contact me for any questions!
04/12/2024

Contact me for any questions!

The FHSA was launched earlier this year to help first time home buyers save for a down payment. You can contribute $8,00...
12/22/2023

The FHSA was launched earlier this year to help first time home buyers save for a down payment. You can contribute $8,000 per year to a lifetime maximum of $40,000. Any unused contribution room in a calendar year will be carried forward to the following year. Contributions are tax deductible and your money grows tax free. Click link in my bio for more FHSA info!

Widely expected news this morning from Bank of Canada.
12/06/2023

Widely expected news this morning from Bank of Canada.

Posted • .financial This morning the Bank announced that it would be increasing its overnight rate once again to finish...
12/07/2022

Posted • .financial This morning the Bank announced that it would be increasing its overnight rate once again to finish the year on trend, with an increase of 0.50%. While many economists had predicted a smaller increase of 0.25%, today’s announcement doesn’t really come as much of a surprise. With inflation not budging between September and October, we know that the Bank is serious about cracking down.

Market consensus for the past several months has been that the Bank will continue to increase to a high of 4.25% by early 2023, and we landed there today. As we inch into the new year we will begin to see if this new rate has a big enough impact on inflation, or if we can anticipate another small increase to come.

So what does today’s announcement mean for you? Well, if you are in an adjustable rate mortgage then this is old hat for you by now, and you will know that you can expect another payment increase of about $25 for every $100,000 left on your mortgage balance. And if you have come this far through the rate hike cycle, then you are probably ready to hunker down and hold out in your variable rate until things start coming back down, likely next year.

What can we expect next? Since the Bank reached the top of what the threshold the market has been anticipating today, it’s safe to assume that they will be waiting to see how it impacts inflation before making any further moves.

Posted • The Bank of Canada has announced an INCREASE to the current overnight rate, moving it from 1.5% to 2.5%. This...
07/13/2022

Posted • The Bank of Canada has announced an INCREASE to the current overnight rate, moving it from 1.5% to 2.5%. This is the largest rate hike the bank has made since 1998.
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The Bank of Canada says, “With the economy clearly in excess demand, inflation high and broadening, and more businesses and consumers expecting high inflation to persist for longer, the Governing Council decided to front-load the path to higher interest rates by raising the policy rate by 100 basis points today … The Governing Council is resolute in its commitment to price stability and will continue to take action as required to achieve the 2% inflation target.”
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The next scheduled overnight rate announcement will be on September 7, 2022!⁣​​​​​​​​​​​​​​​​
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Message me if you have any questions about the rate increase.​​​​​​​​
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Posted • The Bank of Canada has announced another INCREASE to the current overnight rate, moving it to 1.5%.⁣​​​​​​​​​...
06/01/2022

Posted • The Bank of Canada has announced another INCREASE to the current overnight rate, moving it to 1.5%.
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The Bank of Canada says “The risk of elevated inflation becoming entrenched has risen. The Bank will use its monetary policy tools to return inflation to target and keep inflation expectations well anchored. … The pace of further increases in the policy rate will be guided by the Bank’s ongoing assessment of the economy and inflation, and the Governing Council is prepared to act more forcefully if needed to meet its commitment to achieve the 2% inflation target.”
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The next scheduled overnight rate announcement will be on July 13, 2022!⁣​​​​​​​​​​​​​​​​
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Message me if you have any questions about the rate increase.​​​​​​​​
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Posted • The Bank of Canada has announced another INCREASE to the current overnight rate, moving it to 1%.⁣​​​​​​​​ Th...
04/13/2022

Posted • The Bank of Canada has announced another INCREASE to the current overnight rate, moving it to 1%.⁣​​​​​​​​ This is the first 50bps rate hike the bank has made since 2000.​​​​​​​​
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The Bank of Canada says “With the economy moving into excess demand and inflation persisting well above target, the Governing Council judges that interest rates will need to rise further. The policy interest rate is the Bank’s primary monetary policy instrument, and quantitative tightening will complement increases in the policy rate. The timing and pace of further increases in the policy rate will be guided by the Bank’s ongoing assessment of the economy and its commitment to achieving the 2% inflation target.”⁣​​​​​​​​​​​​​​​​
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The next scheduled overnight rate announcement will be on June 1, 2022!⁣​​​​​​​​​​​​​​​​
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DM me if you have any questions about the rate increase.​​​​​​​​
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Posted • The Bank of Canada has announced an INCREASE to the current overnight rate, moving it to 0.5%.⁣​​​​​​​​⁣​​​​​...
03/02/2022

Posted • The Bank of Canada has announced an INCREASE to the current overnight rate, moving it to 0.5%.⁣​​​​​​​​
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The Globe and Mail says “The Bank of Canada raised its benchmark interest rate to 0.50 per cent from 0.25 per cent for the first time since 2018, saying Russia’s invasion of Ukraine “is a major new source of uncertainty.”​​​​​​​​
The Bank of Canada’s decision is not expected to cool the country’s frenzied real estate market. Economists said it will take multiple interest rate increases before borrowing costs rise meaningfully.”⁣​​​​​​​​
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The next scheduled overnight rate announcement will be on April 13, 2022!⁣​​​​​​​​
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Message me if you have any questions.⁣​​​​​​​​
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Address

10354 68 Avenue, 2nd Flr
Edmonton, AB
T6H2A7

Telephone

+17809537502

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