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Posted by: Adam Sale
How Vancouver’s Housing Market Defies Recessions You might think that a recession would automatically lead to a drop in housing prices, especially in a city like Vancouver where the cost of living is notoriously high. But you would be wrong. In fact, Vancouver’s housing market has shown remarkable resilience and even growth in the face […]
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Bank of Canada held rates at 5% – Prime Rate remains at 7.20%. Inflation continues to decrease, and we should be within the Bank’s 2% inflation target range in a couple months. The higher rates are having a negative impact on the economy and cracks are beginning to form: Third quarter GDP numbers show the economy […]
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This is HANDS-DOWN the best Market Report I’ve seen! Clearly explaining: The differences between a Buyers/Balanced/Sellers Market. Current Market Trend Current Pricing and Opportunities Key Take-aways: – The Vancouver market is in a similar position to where we were in November/December last year – this is earlier than I expected! – The Sales-to-Active listings ratio […]
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Interest Rates: Bank Of Canada Unchanged As I’m sure you’ve heard, the Bank of Canada recently held its latest interest rate meeting, and I’m pleased to inform you that they have decided to keep interest rates steady at 5%. The Bank is keeping a watchful eye on the following key pieces of data: Unemployment Report: […]
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Pre-approved Mortgage Before Interest Rates Increase Are you aware of the current trend in rising interest rates among lenders? It’s a direct response to the anticipated rate hike by the Bank of Canada scheduled for September 6th. As the real estate market transitions into the fall season, there’s an expectation of a slowdown. This slowdown […]
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It appears the Vancouver real-estate market is setting up for a slow-down this fall as interest rates continue climbing, causing people to qualify for less and scaring many buyers away from the market. A couple key reports to keep an eye on to confirm if we are heading for a slowdown are: Unemployment Report: August […]
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Great news!! The Consumer Price Index report (inflation report) was released today and shows inflation slowing to 2.8%. Over the last 6-months (January to June) the CPI index has only ticked upwards by 3.3 points as opposed to 2022 January to June’s CPI index increase of 7.6%. This is an excellent sign, but we’re not […]
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When do you need to purchase Mortgage Default Insurance? Mortgage Default Insurance is added to a mortgage when a borrower is purchasing a property with a down-payment less than 20% or when a property is higher risk to the lender, such as a micro-suite, rural location or mobile home. Mortgage default insurance is designed to […]
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Did you know that you may be able to add a Home Equity Line of Credit (HELOC) to your insured or insurable mortgage without having to refinance your entire mortgage? This is a unique and little-known product that could help you save thousands of dollars in interest payments over the life of your mortgage. Most […]
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Yesterday (March 27, 2023), the Government of Canada significantly changed the foreign buyer ban. It is now easier those working in Canada on work permits to purchase a home, and vacant land is now available for purchase by non-Canadian residents. Work Permit holders can now purchase property in Canada if they have not purchased more […]
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