Three US Banks Fail and Markets Freak Out

General 14 Mar

US Policymakers Take Emergency Action To Protect Depositors At Failed Banks Silicon Valley Bank (SVP) had a sterling reputation among the many tech start-ups it helped to finance. What brought SVB down was an old-fashioned bank run set off in 2021 by a series of bad decisions. That year, the stock market boomed, interest rates […]

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How did 2022 change Canadian homebuying trends?

General 13 Mar

Homebuying among Canadians is a vastly different affair – and more often than not, a family one – from what it was two to three years ago, new data reveals, with half of Canadian buyers admitting that financial support from their families played a critical role in their home-purchasing process. From 2020 to 2021, extreme […]

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Bank of Canada Announcement – March 8, 2023

General 8 Mar

With this new announcement, the Bank of Canada has decided not to increase prime interest rates. We expect this pause to continue in the attempt to curb the high inflation rates and further moves will be data-dependent. Prime rate still remains at 6.70% for most banks, with some fixed-rate mortgages having come down off of the peak […]

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Economic Insights from Dr. Sherry Cooper

General 7 Mar

The Bank of Canada was the first major central bank to hit the pause button on rate hikes in late January. Given the slowdown in inflation in the recently released January CPI, The Bank of Canada will refrain from hiking interest rates this month.  That is welcome news for homeowners with adjustable-rate mortgages whose rate […]

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Purchasing Then vs. Now

General 7 Mar

Within the last year, BC’s housing market has undergone numerous changes and adjustments. The image above compares some key figures from a year ago to now. This can be crucial for one looking to buy their first home and what they can expect regarding rates, payments, and what direction the trend in the market is […]

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Mortgages 101: What is Canada’s stress test?

General 23 Feb

Buying a home is the largest purchase most Canadians will make – and as of mid-2022 it became even more expensive, with rising interest rates driving up the cost of borrowing. Canada’s mortgage stress test has played a large role in that as well, by requiring buyers to prove they can manage rates well above what lenders are offering. […]

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