Bank of Canada Raises Interest Rate

Posted on Jan 25, 2023

The Bank of Canada (BoC) announced today that it will be increasing its overnight interest rate by 25 basis points, bringing it to 0.75%. This move was widely expected by economists and market analysts, as the BoC has been signaling for some time that it would likely raise rates in response to the strong economic recovery that has been taking place...

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VariableRate Mortgages – To Lock In or Not to Lock In

Posted on Nov 08, 2022

Times have been unprecedented over the last 3 years, things have been crazy! If you got a variable rate mortgage in the last year, you are probably kicking yourself for not seeing this coming and not choosing a fix rate. We have to take a step back and ask ourselves, why did we choose variable in the first place? For me, being a mortgage broker who...

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Changes are coming in January 2023 for non-resident buyers

Posted on Oct 07, 2022

On June 23, 2022, the Parliament of Canada passed the Prohibition on the purchase of residential property by non-Canadians Act. Coming into force on January 1st, 2023, this Act will last for two years and will minimally affect the Canadian real estate market. Some of the key points to this act are:

• It does not apply to Canadian citizens and perman...

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BCREA Housing Market Update (September 2022)

Posted on Sep 15, 2022

The latest housing market update from the BCREA, shows the Vancouver market begins to stabilize after a downward trend during the summer months. Rising interest rates from the Bank of Canada and rising inflation slowed consumer demand. 

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“You Can’t Bet Against Vancouver”: Why West Coast Market Fundamentals Are Here to Stay

Posted on Jul 21, 2022

As the cost of borrowing rises, and homebuyers see their budgets shrink, home prices have softened in recent months in Canada’s largest urban markets. Metro Vancouver was no exception in June, as sales plunged 16.2% from May, leading to a 2.2% decline in the benchmark price to $1,235,900, the Real Estate Board of Greater Vancouver reports.

But that...

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