Drohan & Associates

08/14/2026

We had a great afternoon helping the Single Parent Association of Newfoundland and Labrador packing backpacks for back to school. They have provided over 800 backpacks so far to children in need and still have many more children on their list. For those that would like to donate it is not too late. They are in need of exercises, binder and duo-tangs. You can drop off donations anytime.

08/14/2026

A heartfelt THANK YOU to everyone who voted for me in the 2026 St. John’s Community Votes and helped recognize me as Platinum as a Mortgage Broker! ❤️

I’m truly grateful for the trust you place in me to help you navigate one of the biggest financial decisions of your life. Whether it’s buying your first home, refinancing, renewing, or finding the right mortgage strategy, it’s a privilege to be part of your journey.

Your support, referrals, and kind words mean more to me than you know. ❤️

Thank you, St. John’s, for this incredible recognition! I’m so grateful to do what I love every day and, most importantly, to serve such amazing clients and community.

Here’s to many more keys, new beginnings, and happy homeowners! 🏡🔑

05/10/2026

Happy Mother’s Day from all of us at Drohan and Associates!

Today, we celebrate the mothers, grandmothers, stepmothers, caregivers, and mentors whose strength, compassion, and support shape our families and communities every day. Thank you for all you do — today and always.

Wishing you a day filled with love, appreciation, and special moments with those who matter most. ❤️

03/18/2026

Prime rate remained the same today! No effect on variable rate mortgages!

We have maintained our policy interest rate at 2.25%.

The Canadian economy continues to face heightened uncertainty related to US trade policy and geopolitical risks. Now the war in Iran has added a new layer of uncertainty. Its impact on the global and Canadian economies will depend on how long the conflict lasts and the extent to which it spreads across the Middle East.

For more, read Governor Macklem’s opening statement: https://bit.ly/40A0O3s

02/27/2026

We are very proud to recognize Drohan & Associates on reaching the East Coast Mortgage Brokers’ GOLD CLUB BEACON OF EXCELLENCE for achievement in sales in 2026!! 🏡⭐️

Congratulations Ann Marie, Todd, Bonnie and Peter!!

01/29/2026

No surprises from the Bank of Canada yesterday—the overnight rate remains at 2.25%. Since the Prime Rate didn’t change, variable-rate mortgage holders will see their rates stay the same.

The next rate decision is set for March 18, 2026. As always, feel free to reach out if you’d like to talk about how this impacts your mortgage.

The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.

12/31/2025

As the year comes to a close, we wanted to take a moment to sincerely thank you for the trust you placed in our team throughout the year. It has truly been a pleasure assisting you with your mortgage and financing needs, and we are grateful for the opportunity to be part of such an important milestone in your life.

On behalf of our entire team, thank you for choosing us and for your continued support. Your confidence in us means a great deal, and it motivates us to continue providing thoughtful advice, strong solutions, and exceptional service.

We wish you and your family a happy, healthy, and prosperous 2026. We look forward to continuing our relationship and supporting you with any future mortgage needs in the year ahead.

12/10/2025

The Bank of Canada has announced that it will hold its target for the overnight rate at 2.25%. For individuals with variable rate mortgages, this means their interest rate will remain the same. If you would like to discuss how this decision impacts your mortgage, I encourage you to get in touch with me to schedule a consultation.

The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.

06/11/2025

GST relief for first-time home buyers on new homes valued up to $1.5 million

From: Department of Finance Canada

To lower the upfront cost of buying a new home for young Canadians and spur the construction of new homes across the country, the government is eliminating the Goods and Services Tax (GST) for first-time home buyers on new homes up to $1 million and reducing the GST for first-time home buyers on new homes between $1 million and $1.5 million.

On May 27, 2025, the Minister of Finance and National Revenue, the Honourable François-Philippe Champagne, tabled legislative proposals to amend the Excise Tax Act to introduce a new GST rebate for first-time home buyers (the “FTHB GST Rebate”). As a result of this rebate, first-time home buyers will be able to save up to $50,000 on a new home. This measure is expected to deliver $3.9 billion in tax savings to Canadians over five years, starting in 2025-26.

First-Time Home Buyers’ GST Rebate

If you are a first-time home buyer, you may be eligible for a FTHB GST Rebate if:

you buy a new home from a builder;
you build, or hire someone else to build, a home on land you own or lease; or
you buy shares of a co-operative housing corporation.
The FTHB GST Rebate will apply to the same types of housing and apply similar eligibility criteria and conditions as the existing GST/HST New Housing Rebate, with certain modifications to ensure that the rebate is targeted at first-time home buyers.

To be considered a “first-time home buyer” for the purposes of the FTHB GST Rebate, an individual would generally need to meet the following conditions:

be at least 18 years of age;
be either a Canadian citizen or a permanent resident of Canada; and
not have lived in a home, whether in or outside Canada, that they owned or that their spouse or common-law partner owned in the calendar year or in the four preceding calendar years.
Together with the existing GST/HST New Housing Rebate (where that rebate is applicable), the FTHB GST Rebate would provide for a rebate of 100% of the GST on new homes valued up to $1 million.

The FTHB GST Rebate would be phased out in a linear manner for new homes valued between $1 million and $1.5 million. For example, under the linear phase-out, a home valued at $1.25 million would be eligible for a 50% GST rebate (a rebate of up to $25,000).

No FTHB GST Rebate would be available for new homes valued at or above $1.5 million.

Source: canada.ca

05/17/2025