Home buyers and sellers now know that the key interest rate will be remaining steady for the time being, or at least until the Bank of Canada's next meeting September 4th. This is the 6th time in a row that the Bank has decided to maintain the overnight rate citing a sluggish economy and global trade tensions. The Bank positively noted that "Recent data show the Canadian economy is returning to potential growth ... however, the outlook is clouded by persistent trade tensions.
JANUARY REAL ESTATE STATISTICS Below is a summary for Metro Vancouver. You can find the statistics for specific property types in specific areas by going here (neighbourhoods in West Vancouver, North Vancouver, East Vancouver and Vancouver West are covered. Alternatively, feel free to get in touch with me and I'll be happy to provide the statistics for the area you are interested in. February has started off busy and January saw the number of listings increase across all hous
As was widely anticipated, the Bank of Canada raised the overnight target rate yesterday by a quarter percent, increasing it from 1.5% to 1.75%. Most major backs quickly followed suit, hiking their prime rates to 3.85% up from 3.7%. It appears that most increases are to follow.Avery Shenfeld, chief economist at CIBC Capital Markets explained in a message to clients shortly after the announcement that he felt the next increase could happen as early as the Bank of Canada's next
The latest real estate statistics are out for September. As most buyers and sellers are aware, housing demand is decreasing and overall prices are softening with this. At the same time, The Bank of Canada is expected to raise the key interest rate at it's next meeting on October 24th, with analysts predicting a total increase of 0.5% by early 2019 and more hikes likely to follow throughout the year. This means that many buyers will likely want to get in the market before the