The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance on the path for the overnight rate. This is reinforced and supplemented by the […]

We are excited to enter the next season with optimism in BC’s Fall Housing Market. However, we’d like to point out 7 things that people should continue to observe as the season changes over.  1. A hot pre-sale market Attractive to young buyers, British Columbia’s pre-sale market is hot and booming. This is perfect for […]

5 Tips to help you save for a down payment!   1. Eliminate high interest debt first Any outstanding credit card bill or high interest rates can impact the time it takes for you to save for a down payment. In addition, every $480 spent on car payments might hold you back from securing the […]

Annual inflation hits 3.7% in Canada—a new election issue. Canadian inflation hits highest reading in two decades. This morning’s Statistics Canada release showed that the July CPI surged to a 3.7% year-over-year pace, well above the 3.1% pace recorded in June. This is now the fourth consecutive month in which inflation is above the 1% […]

Today the Canadian Real Estate Association (CREA) released statistics showing national existing home sales fell 3.5% nationally from June to July 2021–the fourth consecutive monthly decline. Over the same period, the number of newly listed properties dropped 8.8%, and the MLS Home Price Index rose 0.6% and was up 22.2% year-over-year. While sales are now down a cumulative […]

While the Liberals don’t have any new plans to tackle housing to date — the party’s latest platform promise includes $10 a day child care for families — the party’s ongoing platform features three housing components. As part of a new, ten-year investment of nearly $20 billion in social infrastructure, the Liberals say they will prioritize significant new investment in […]

Canada’s NDPs say they have a plan to target the housing crisis and make housing more affordable, and here’s how they promise to accomplish this if elected: Go after big money investors by: Singh and the NDP say they will go after big money investors by putting a 20% Foreign Buyer’s tax on the sale […]

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 […]