Mortgage Qualifying Rates Reduced
Following a recent BC Real Estate Association report claiming housing sales would have been 10% higher in 2018 had it not been for the B-20 Stress Test, the Bank of Canada adjusted the qualifying rate for mortgages for the first time since 2016. Although...
May Heats Up the Market
While most of the Canadian market is slowing down and showing signs of a pricing decline later this year, the month of May had the best sales activity yet. Although affordability continues to remain questionable, reports indicate that housing prices are...
Affordable Homes Leading The Way
The trend across most real estate markets in British Columbia all seem to be affected by the cooling housing market. Fortunately, one area that’s on the rise in recent months is our beautiful city Kelowna, particularly for properties valued in the...
Mortgage Rates Fall As Bond Yields Drop
As fixed mortgage rates continue to fall over recent weeks, what’s become good news for some Canadians has become bad news for others. While the cost of financing mortgages has gotten cheaper, mortgage-holders are the unexpected contributors to some of...
BC Housing Speculation
Starting the year strong with a 3.6% increase in resales following the declines shown in the fourth quarter of 2018, there’s still speculation about the year ahead according to the latest CREA home sale data. Positives aside, the general consensus for...
Housing in BC Continues To Cool
Vancouver's red-hot housing marketing continued to cool last month as home sales fell to the lowest level seen in January in the last 10 years. Although The Real Estate Board of Greater Vancouver says that sales are 39.3 per cent lower this January than...
BC Housing Expected To Cool In 2019
Reports from market watchers claim that 2019 could be one of the more affordable years to buy a condo in B.C., thanks to the increased supply and regulatory measures that have contributed to suppressing home sales. The Real Estate Board of Greater...
Vancouver Asks Province To Rescind Real Estate Tax
Vancouver Mayor Kennedy Stewart recently sent a letter to Premier John Horgan asking the provincial government to rescind a new tax on real estate, even though Mayor Stewart claims to support the tax. The tax, called a school tax surcharge, was first...
Bank of Canada Raises Interest Rate to 1.75%
The Bank of Canada can finally see “home” on the horizon with the latest increase of interest rates now levelling out. Governor Stephen Poloz and his deputies on the Governing Council raised the benchmark interest rate a quarter point to 1.75 percent, as...
