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Tag Archives: Bank of Canada

A Return to Balance for BC Housing Market

  Vancouver, BC – July 13, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 7,884 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in June, a 32.5 per cent decrease from the same month last year. The average MLS® residential price in BC was  Continue Reading »

Should You Stress About the Stress Test? What you should know about new mortgage rules.

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 »

Will there be a July 15 interest rate cut?

by Steve Randall | 07 Jul 2015 The recent events in Greece have created an unprecedented situation and one which is causing ripples throughout the world’s economies. It has meant a surge in speculation by analysts about whether the bank of Canada will take a pre-emptive strike against potential weakness emanating from the Eurozone. However  Continue Reading »

Should I Buy a House Now or Wait?

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 »

Bank of Canada Interest Rate Decision – October 22, 2014

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 »

RBC Forecasts a Moderate Slow Down for Canada’s Housing Economy in 2015 – Steady As She Goes for Victoria’s Market

Canada’s seemingly unstoppable surge in housing sales and price growth may slow down soon according to a new report from RBC Economics. “Strained affordability” and rising interest rates are expected to cool down sales in the market in 2015 while prices will decrease substantially. While resales will still see an increase of 2.1 per cent  Continue Reading »

Canadian Third Quarter Real GDP Growth

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 »

Where’s the fire? Here’s how Canada’s banks reacted to CREA’s October report

Canadian existing home sales fell 3.2 per cent month-over-month in October according to a report published on Friday by the Canadian Real Estate Association (CREA). While this marked the first drop in resales since February 2013 and the largest monthly decline since the slowdown in summer 2012, sales still stood 8.3 per cent above 2012  Continue Reading »

Greater Victoria Real Estate Market Rebounds in 2nd Quarter

VICTORIA BC – For the third consecutive month, the Victoria Real Estate Board reports sales through the MLS® System remained strong with 65% more activity in the current quarter than in the first quarter of 2013. “With 664 sales this month, and 1,938 sales this quarter, the market is definitely rebounding,” says President Shelley Mann. “We  Continue Reading »

Interest rates are going nowhere fast

By Gregory Klump – Chief Economist, CREA – March 26, 2013 Canadian interest rates will remain stuck at their current unusually low levels throughout 2013. I’ve been saying as much since early 2012 and feel more than a little vindicated by the Bank of Canada’s policy interest rate announcement on January 23rd, 2013, when it  Continue Reading »