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Bank of Canada Maintains Overnight Rate

In Bank of Canada, Interest Rate Trends by Vancouver Mortgage Broker

The Bank of Canada maintained it’s target for the overnight rate this morning meaning no changes to variable mortgage rates.  The announcement states… “the Bank was projecting a temporary slowdown in late 2018 and early 2019, mainly because of last year’s drop in oil prices. The Bank had forecast weak exports and investment in the energy sector and a decline …

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Greater Vancouver Real Estate & Mortgage Market Going into 2019

In Stories by Vancouver Mortgage Broker

If you have a mortgage or are getting a mortgage … here’s what you need to know going into 2019. First, a quick look back at 2018… The Bank of Canada raised rates 3 times in 2018.  January 0.25%, July 0.25% and October 0.25% … increasing variable rate mortgage & credit lines by 0.75% After consecutive years of real estate …

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[In The Media] Toronto better poised than Vancouver to weather real estate storm

In Stories by Vancouver Mortgage Broker

January 18, 2019 | Ada Slivinski Toronto better poised to weather real estate storm Vancouver’s housing market has slightly cooled – but only slightly Over the past several months, we’ve seen what some predicted would never happen: a dip in the hot housing markets in both Vancouver and Toronto. New mortgage rules, foreign buyers’ tax and rising interest rates have …

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The Bank of Canada Holds Rates

In Stories by Vancouver Mortgage Broker

The Bank of Canada (BOC) held it’s overnight rate January 9th 2019. What does this mean? This means no changes to your variable rate mortgage and lines of credit rates or payments.  Prime rate remains at 3.95% with most lenders (not all lenders have the same prime rate). Are there rate increases coming? Some economists are forecasting rates will rise …

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Top 4 Reasons Canadians Refinance

In Stories by Vancouver Mortgage Broker

The 2018 Mortgage Consumer Survey by CMHC unveils the top 4 reasons Canadians refinance (increase or change) their mortgage. Consolidate debt (credit cards, lines of credits, car loans, etc) Fund home improvements/renovations Fund financial investments (eg stocks, securities) Purchase of investment rental property(ies) The majority of those that refinance are between the ages of 35 and 55+ and have a household …

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Bank of Canada Maintains Overnight Rate

In Stories by Vancouver Mortgage Broker

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. The global economic expansion is moderating largely as expected, but signs are emerging that trade conflicts are weighing more heavily on global demand. Recent encouraging developments at the …

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What did we get for the government’s efforts to slow the market?

In Stories by Vancouver Mortgage Broker

So what does a new trade agreement between Canada, the US and Mexico mean for Canadians? In a nutshell, higher interest rates. When the Bank of Canada met on October 24th, there was a rate hike to 1.75%. And the consensus is that there are at least two – probably three more hikes coming in 2019, which would put rates …

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Bank of Canada increases overnight rate target to 1 ¾ per cent

In Stories by Vancouver Mortgage Broker

The Bank of Canada today increased its target for the overnight rate to 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. The global economic outlook remains solid. The US economy is especially robust and is expected to moderate over the projection horizon, as forecast in the Bank’s …

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Student Challenge Winners Bring Innovative Ideas to Creating Affordable Rental Housing in Canada

In Stories by Vancouver Mortgage Broker

With innovative and fresh approaches to create more affordable rental housing in the country, the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation, announced the winners of the Innovation Fund Student Challenge. Three teams have been selected as winners earning the full award of $10,000: The Beaver – York …

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Part 3 of 3 – Three-part series on best Canadian cities to invest in | Among top 10 cities – Guelph, ON & Brantford, ON

In Stories by Vancouver Mortgage Broker

In part one and two of this special three-part series, readers learned about the criteria some of Canada’s top real estate experts consider when determining which cities are the best to invest in and why. In this final part of the series, the remaining portion of Canada’s top 10 cities to invest in this year is revealed. In fifth spot …