October 2024 Market Update
Posted on Oct 08, 2024
Rate cuts to smooth over the 'mortgage renewal cliff' awaiting pandemic homebuyers
Many homeowners who will be renewing their five-year mortgages for the first time next year may be worried about a steep increase in their monthly payments. But faster and larger than expected interest-rate declines promise to reduce what analysts had dubbed the "mort...September 2024 Market Update
Posted on Sep 09, 2024
B.C. unveils standardized home designs with focus on faster approval, lower building costs
The provincial government has unveiled a catalogue of 10 standardized home designs to help lower the cost of building small-scale, multi-unit housing.Developers and home builders can take the designs, which are available for free online, and use them like buil...
August 2024 Market Update
Posted on Aug 12, 2024
Data Points: B.C. home sales improve as the average Vancouver price hits peak
Housing market activity in B.C. picked up pace in June, following months of low sales volume. Seasonally adjusted MLS home sales in B.C. came in at 6,166 units, increasing by 2.8 per cent month to month, following a 2.3-per-cent increase from April to May.Year over year, s...
July 2024 Market Update
Posted on Jul 09, 2024
Housing Affordability Will Improve, But Won't Soon Reach Pre-Pandemic Levels: Desjardins
With the Bank of Canada finally making a rate cut last month - the first one in over four years - Canada's realtors say that the country's buyers are slowly (key word) coming off the sidelines. With further rate cuts projected for 2024, the big question remains...
June 2024 Market Update
Posted on Jun 09, 2024
What the Bank of Canada rate cut means for mortgages, consumer loans and investments
The Bank of Canada has lowered its key interest rate by a quarter of a percentage point to 4.75 per cent. Here's what it could mean for your finances.What does it mean for consumers and prime rates?The Bank of Canada's benchmark rate affects borrowing costs for bank...