A look at interest rate uncertainty from our friends at First National. The latest economic forecast from the Bank of Canada has rekindled the “age old debate”: Fixed vs Variable. In its Monetary Policy Report last month, the BoC indicated that the time horizon of its “low for longer” interest rate policy may be moving […]

A review of today’s Bank of Canada announcement and what it means for Canadians from our friends at First National. The Bank of Canada made its interest rate decision today This morning, in its third announcement of 2021, the Bank of Canada left its target overnight benchmark rate unchanged at 0.25%. As a result, the […]

Always great insight from Kevin Skipworth from Dexter & Associates.   “Never lose hope. Storms make people stronger and never last forever.” Roy T. Bennet Sales and listings stats are attached as of April 15, 2021. While the beat carries on, the tune is a little different this month. Perhaps the volume has come down […]

A review of the proposed Federal Budget by Dr. Sherry Cooper, Chief Economist at Dominion Lending. Chrystia Freeland’s First Budget is As Promised In more than two years, the first federal budget extends Ottawa’s COVID-19 “lifeline” for workers and struggling businesses another few months as it aims to pull Canada through the pandemic once and […]

A really important article/statement from the Associations supporting our real estate industry.  Real Estate Sector Associations Joint Statement Addressing Current Housing Market Trends Joint statement: The British Columbia housing market is currently experiencing a heightened level of activity, leading to increased competition and a trend of prospective purchasers submitting unconditional offers, at times without having […]

More on the proposed increase in the stress test for conventional buyers from our friends at First National. Canada’s unrelentingly hot housing market has led to increasing calls for government to step in and pour some cold water on the situation. The country’s main banking regulator has heard those calls and has announced it will […]

Some valuable tips for buyers from our friends at REW …in my opinion, you should ALWAYS have your own realtor when buying a home but most importantly in a seller’s market such as ours. Here’s why… By Justin Kerby Apr 8, 2021 Purchasing a home is a significant life event, and having a buyer’s agent represent […]

More on the current economic recovery from Dr. Sherry Cooper, Chief Economist at Dominion Lending. Blowout Canadian Job Growth Continued In March This morning, Statistics Canada released the March 2021 Labour Force Survey showing much stronger-than-expected job growth for the second month in a row, pointing towards a Q1 growth rate of more than 5.5%. […]

Additional insight on the OSFI proposal to raise the qualifying rate on conventional mortgages – from Dr. Sherry Cooper, Chief Economist at Dominion Lending.  Banking Regulator Aims To Make It Tougher To Get An Uninsured Mortgage With several Big-Five bank CEOs calling for regulatory action to slow the red-hot housing market, it didn’t take long for […]

Important update that could affect conventional home buyers by June 1st, 2021. OSFI consultation on the stress test Today the Office of the Superintendent of Financial Institutions (OSFI) restarted its consultation on the minimum qualifying rate for uninsured mortgages and re-emphasized the importance of sound mortgage underwriting. The new proposal for the qualifying rate for uninsured […]