Conservatives propose a three-pronged strategy that targets the housing crisis which involves increasing housing supply, tackling money laundering and foreign investors, and making mortgages more affordable. Increase supply by implementing a plan to build 1 million homes in the next three years by: Leverage federal infrastructure investments to increase housing supply. We will: Build public […]

It takes time for our policy interest rate decisions to filter—or be transmitted—through the economy and financial system. Four transmission channels When we adjust our policy interest rate at the Bank, we don’t expect immediate results. It usually takes 18 to 24 months to see the full effects. Interest rate changes affect the economy through […]

Today the Canadian Real Estate Association (CREA) released statistics showing national existing home sales fell 8.4% nationally from May to June 2021, marking the third consecutive monthly decline. Over the same period, the number of newly listed properties fell 0.7%, and the MLS Home Price Index rose 0.9%, a marked deceleration from previous months. Activity nonetheless remains historically high, but in contrast […]

The Bank of Canada raised its inflation forecast in the newly released July Monetary Policy Report (MPR), making it one of the most hawkish central banks in the world. The Bank announced its third action to reduce its emergency bond-buying stimulus program by one-third. The central bank was among the first from the advanced economies to shift to […]

Article written by Jessy Bains – can be viewed here The gap between variable and fixed-rate mortgages has widened (Photo by Jeff J Mitchell/Getty Images) Low rates have helped fuel the real estate rally and today, Ratehub.ca says the best 5-year variable rate on its site dropped to 0.98 per cent, which it says is the lowest 5-year variable-rate […]

Published by the Tri-Cities Chamber of Commerce 2021 The Government of British Columbia has just announced BC’s Restart Plan and outlined the road the recovery. BC’s Restart – a four-step plan to bring BC back together will be a slow and gradual return to a more normal life, with safety and health protocols such as […]

Home prices may be astronomical in certain parts of the country, but historically low mortgage rates are allowing borrowers to pay off their mortgages faster than ever. At today’s average rates, 61% of a new homebuyer’s very first mortgage payment is going towards principal repayment, according to data from Edge Realty Analytics. In the early 2000s, […]

The housing market is so competitive buyers are doing anything they can to get a home. A common way to try to stand out is to write a heartfelt “love letter” to a seller — a seemingly harmless note to express appreciation of the home and make a personal connection. But in this overheated real estate market, what were […]

The Bank of Canada left the benchmark overnight policy rate unchanged at 0.25% and maintained its current pace of GoC bond purchases at its current pace. The Governing Council renewed its pledge to refrain from raising rates until the damage from the pandemic is fully repaired. The $3 billion weekly pace of bond-buying–known as quantitative […]