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Posted by: Adam Sale
Is it better to go with a Fixed Rate Mortgage or a Variable Rate Mortgage? The Bank of Canada’s decreased the Prime Rate for the 3rd time last week, which is re-igniting the question above. Over the past 24-months, the 3-yr fixed-rate has risen in popularity over the 5-yr Variable rate and the 5-yr fixed […]
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Did you know housing PULLS an Economy out of a recession? First, lets quickly recap what a recession is. A recession is defined as declining GDP, and high unemployment. A simplistic way of thinking about GDP is to think of it as a collection of all the small businesses like a grocery store, a furniture […]
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Bank of Canada Decrease’s Policy Rate to 4.75% Bank of Canada’s announcement today reduces the policy rate to 4.75%, down from 5% it has held since July 2023. This change aims to address economic pressures Canadians have been facing due to rising costs and high mortgage payments. This reduction comes at a critical time. Many […]
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Where are BC’s Housing prices going? Up or Down? I believe this graph holds the answers… *Disclaimer* – I am from Vancouver, British Columbia and my bold prediction of double digit price increases is meant for Metro Vancouver Condo’s, NOT Canada as a whole. THIS GRAPH TELLS US.. For every 1-housing unit being created, there are 5 […]
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BC Housing: Secondary Suite Incentive Program I wish I noticed this program sooner, but somehow it slipped through the cracks! Anyways, this seems like a great program for anyone interested in adding a rental suite to their home. BC Housing is running a pilot program encouraging homeowners to build secondary suites/laneway homes by offering a FORGIVABLE loan of […]
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(Proposed) New Changes to Lending Regulations OSFI (the banks’ regulator) proposed a new maximum borrowing limit of 4.5x borrowers’ annual income. This proposed change will LIKELY come into effect in the first quarter of 2025. We do not have an official launch date, or confirmation of whether or not this will become the new rule. […]
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Will there EVER be a First-Time Home Buyer Program that WORKS?! Because this last program (CMHC’s) “The First-Time Home Buyer Incentive Program” is/was horrendous! Why is/was it so bad? Too restrictive, didn’t help homebuyers with qualifying, and little benefit. This program is/was designed for First time home buyers who ALREADY qualified for the mortgage. Only […]
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Forecasting the Inflation Rate for 2024 Here is a simple way to forecast the inflation rate for 2024 – conservatively, of course. First, grab the CPI data from Rateinflation.com and paste it into an excel sheet. Then, look for some patterns in these numbers. Notice how the CPI numbers change from one month to the […]
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Inflation is down to 2.85%, but CPI remains 158.3 Last month I sent an email showing why inflation had increased even though CPI number had decreased. And now today’s inflation report shows inflation decreasing, but the CPI number remains the same as last month, why is this happening? To explain this better, let’s do a quick recap on how to […]
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📣HUgE NeWS! Foreign buyer Ban extended until 2027!! 📣 I 💯 support this move and think this should be the law moving forward. Canadian real estate should be reserved for people who live, work and pay taxes in Canada. 💸 Will the extension to the foreign buyer-ban make much of a difference⁉️ Probably not. CMHC […]
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