Category: News

Pace of housing price increases continues to slow

Pace of housing price increases continues to slow

Housing prices rose for the 15th straight month in July, but by the smallest margin in four months, according to a national index released Wednesday.

And for the first time in four months, prices failed to rise above the previous month’s in all of the six metropolitan areas measured in the Teranet-National Bank house price index.

Vancouver Real Estate

Vancouver records sharp increase in housing starts

Vancouver is one of five metropolitan areas in Canada that recorded sharp year-over-year increases in housing starts in August, according to figures released Tuesday by the Conference Board of Canada.

Vancouver Real Estate

Banks hold most of the cards in mortgage game

To understand the housing market and where it’s headed, it’s a good idea to take a close look at the big banks.

As providers of more than 60% of home loans in Canada they are major players, determining everything from who gets to be a buyer to what people can afford to pay.

Regional construction job numbers slip in August

Regional construction job numbers slip in August

Construction employment in the Lower Mainland-Southwest region decreased in August, according to Vancouver Regional Construction Association’s (VRCA) analysis of today’s Labour Force Survey from Statistics Canada.

Why rising interest rates haven’t flattened the housing market

Why rising interest rates haven’t flattened the housing market

So much for the housing market being crushed by rising interest rates.

The Bank of Canada cranked up its trendsetting overnight rate for the third time in four months on Wednesday and the impact will be felt by a wide range of borrowers. But home buyers? Not so much.

Bank of Canada

Bank of Canada boosts overnight lending rate

Bank of Canada governor Mark Carney raised the overnight lending rate a quarter percentage point on Wednesday morning, in line with most analysts’ expectation.

Carney raised the trend-setting rate from 0.75 per cent to an even 1 per cent.

BMO

BMO cuts mortgage rate to spur home buying

The Bank of Montreal cut its special five-year fixed rate mortgage by 20 basis points Wednesday, bringing it down to 3.59% from 3.79%.

BMO said in a statement that the move was an effort to provide potential home buyers an incentive as the fall season rolls around.