Category Archives: Personal Finance
Victoria Real Estate Market Strong to the End of 2017
Written on January 2, 2018 at 3:00 pm, by Ingrid Jarisz
A total of 462 properties sold in the Victoria Real Estate Board region this December, 1.9 per cent fewer than the 471 properties sold in December last year. A grand total of 8,944 properties sold over the course of 2017, 15.8 percent fewer than the record breaking 10,622 that sold in 2016. 2017 sales came Continue Reading »
Victoria Real Estate Market Experiences a Burst of Activity
Written on December 1, 2017 at 12:35 pm, by Ingrid Jarisz
A total of 671 properties sold in the Victoria Real Estate Board region this November, 12 per cent more than the 599 properties sold in November last year. “We suggested last month that some buyers may accelerate their purchase timeline to buy a new home in anticipation of the mortgage stress test on uninsured buyers Continue Reading »
Victoria Real Estate Market Continues Trend of Low Inventory, High Demand
Written on April 3, 2017 at 4:57 pm, by Ingrid Jarisz
April 2, 2017 – A total of 929 properties sold in the Victoria Real Estate Board region this March, 17.1 per cent fewer than the 1,121 properties sold in March last year. “We predicted early in the year that we wouldn’t see a continuation of the record sales numbers that we saw in 2016,” says Continue Reading »
Should You Stress About the Stress Test? What you should know about new mortgage rules.
Written on November 2, 2016 at 11:06 am, by Ingrid Jarisz
On October 3rd, Finance Minister Bill Morneau announced that new mortgage rules will include more stringent “stress testing” for borrowers. The new rules are designed to lower debt levels, enforce some belt-tightening, and protect the housing market over the long term. Here’s how these new rules will affect Canadians. THE HIGH-RATIO RULE There has been Continue Reading »
An Early Spring for the Victoria Real Estate Market?
Written on February 1, 2016 at 11:53 am, by Ingrid Jarisz
The Victoria Real Estate Board today released its report on Multiple Listing Service® real estate activity in the Victoria area for the month of January 2016. 2016 started with the busiest month of sales in January since 2002. A total of 539 properties sold in the Victoria Real Estate Board region this January, an increase Continue Reading »
Should I Buy a House Now or Wait?
Written on January 15, 2015 at 2:03 pm, by Ingrid Jarisz
In the market for a new home this year? Then you must be quaking in your snow boots after the news agencies reported the recent catastrophic predictions of Duetsche Bank. According to the international Bank’s chief international economist, Torsten Slok, Canadian homes are 63% overvalued—the single largest prediction of doom for this country’s housing market. Continue Reading »
Will real estate sales in Victoria continue the upward trend into 2015?
Written on January 5, 2015 at 12:33 pm, by Ingrid Jarisz
The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for December 2014. 389 properties sold in the Victoria region this December, an increase of 9.6% when compared to the 355 properties sold in December last year. Overall, 2014 saw 11.67% more sales than in 2013. Continue Reading »
Bank of Canada Interest Rate Decision – October 22, 2014
Written on October 22, 2014 at 1:38 pm, by Ingrid Jarisz
The Bank of Canada once again chose to maintain it’s target for the overnight rate at 1 per cent this morning. In the statement accompanying the decision, the Bank noted that core inflation, which excludes volatile prices such as energy and food, has risen more rapidly than expected due to unexpected sector-specific factors while CPI Continue Reading »
CMHC to Increase Mortgage Insurance Premiums
Written on February 28, 2014 at 4:17 pm, by Ingrid Jarisz
OTTAWA, February 28, 2014 — Following the annual review of its insurance products and capital requirements, CMHC will increase its mortgage loan insurance premiums for homeowner and 1 – 4 unit rental properties effective May 1, 2014. The increase applies to mortgage loan insurance premiums for owner occupied, self-employed and 1-to-4 unit rental properties, including Continue Reading »
Canadian Third Quarter Real GDP Growth
Written on November 30, 2013 at 10:25 am, by Ingrid Jarisz
The Canadian economy grew 2.7 per cent at an annual rate in the third quarter, the fastest pace of growth in almost two years. The economy was given a boost by an uptick in business investment which helped to offset a slight deceleration in household spending and a dip in exports. Moreover, while third quarter Continue Reading »