Source & Credit: RBC Economic Claire Fan July 24, 2024 After a first interest rate cut in June, the Bank of Canada again lowered its key overnight rate by 25 basis points to 4.5%. The move was in line with market and our own expectations ahead of the announcement. Governor Macklem’s opening statement for the press conference was more dovish than the rate announcement. The governor...
The federal government and a federal banking regulator are planning to tweak mortgage stress tests in time for the busy spring home-buying season, a move that could make it easier for would-be owners to get a loan and add fuel to Canada’s housing market. Finance Minister Bill Morneau and the Office of the Superintendent of Financial Institutions announced Tuesday that they aim to replace the current...
As widely expected by economists and investors, the Bank of Canada left its trend-setting interest rate unchanged at 1.75 per cent, Global News/ Fergal Smith-Reuters Full Article: https://globalnews.ca/news/5025942/bank-of-canada-interest-rate-unchanged-1-75/ The Bank of Canada (BoC) is keeping its key interest rate target on hold at 1.75 per cent on Wednesday, citing concerns about the global...
The Metro Vancouver(1) housing market continues to experience reduced demand across all housing types. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,929 in August 2018, a 36.6 per cent decrease from the 3,043 sales recorded in August 2017, and a 6.8 per cent decline compared to July 2018 when 2,070 homes sold. Last month’s sales were...
Critics say new mortgage rules will push borrowers to unregulated lenders Canada's banking regulator will move ahead with controversial new mortgage stress-testing rules in an effort to curb risky lending practices at banks, but critics say the changes will drive more borrowers to unregulated alternative lenders and add risk to the financial system more broadly. The Office of the Superintendent of...
Monday, October 2, 2017 Apartment and townhome activity is outpacing the detached home market across Metro Vancouver*. This activity helped push total residential sales above the historical average in September. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,821 in September 2017, a 25.2 per cent increase from the 2,253...
BC government announces official support for Vancouver's Amazon HQ2 bid The provincial government is officially backing Metro Vancouver’s bid to become the home of Amazon’s second headquarters. Earlier today at the Union of BC Municipalities convention held at the Vancouver Convention Centre, Premier John Horgan announced a $50,000 funding commitment to assist the municipalities of Vancouver and...
Vancouver home prices jump as condo & townhome Metro Vancouver home sales surged in August as condo and townhome transactions saw increased competition, the Real Estate Board of Greater Vancouver announced September 5. Sales in the month were 19.6% higher than the 10-year average for August. A total of 3,043 properties changed hands – a 22.3% increase compared with the 2,489 sales one year ago....
Vancouver will soon lead the world in green building design and construction, thanks to the innovative Greenest City Action Plan. As part of this initiative, the City is working to reduce the amount of energy consumed by the city's new homes 33% by 2020, with the goal of making all new buildings "carbon neutral" by 2030. At the same time, greenhouse gas emissions from existing buildings will be reduced...
B.C. remains a seller’s market: B.C. Real Estate Association The B.C. Real Estate Association is out with its Third Quarter Housing Forecast update, and it’s predicting a 10% decline in the number of sales this year. But it says strong economic fundamentals are supporting consumer demand that is expected to keep home sales at elevated levels this year and in 2018. Says Associaton economist...