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Bank of Canada maintains overnight rate target at 1 ½ per cent

In Stories by Vancouver Mortgage Broker

The Bank of Canada today maintained its target for the overnight rate at 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent. CPI inflation moved up to 3 per cent in July. This was higher than expected, in large part because of a jump in the airfare …

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Part 2 of 3 – Three-part series on best Canadian cities to invest in | Among top 10 cities – Vancouver, BC & Barrie, ON

In Stories by Vancouver Mortgage Broker

In part one 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 part two, a partial list of the top 10 cities is outlined and in part three, the remaining portion of that top 10 list will be …

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Bank of Canada raises overnight rate target to 1 ½ per cent

In Stories by Vancouver Mortgage Broker

The Bank of Canada today increased its target for the overnight rate to 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent. The Bank expects the global economy to grow by about 3 ¾ per cent in 2018 and 3 ½ per cent in 2019, in line …

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Part 1 of 3 – Three-part series on best Canadian cities to invest in

In Stories by Vancouver Mortgage Broker

As property investment tends to represent the largest asset or largest source of debt for most Canadians, it stands to reason collecting as much information as possible prior to proceeding with the purchase is paramount. A number of considerations need to be factored in. Some of Canada’s top real estate experts analyze communities across the country every year and then …

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Government Policy is Hurting Affordability

In Stories by Vancouver Mortgage Broker

For years a headline story has been the increasing level of personal debt, which has now reached $1.70 for every dollar of disposable income.  The latest numbers show that Canadians have $1.53 trillion in mortgage debt. For many rising mortgage rates will be a problem. In April, a MNP survey found that 25% of Canadian mortgage holders were already feeling …

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Bank of Canada maintains overnight rate target at 1¼ per cent

In Stories by Vancouver Mortgage Broker

The Bank of Canada today maintained its target for the overnight rate at 1¼ per cent. The Bank Rate is correspondingly 1½ per cent and the deposit rate is 1 per cent. Global economic activity remains broadly on track with the Bank’s April Monetary Policy Report (MPR) forecast. Recent data point to some upside to the outlook for the US economy. …

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Canadian average home price drops 10.4 per cent from the same month a year ago

In Stories by Vancouver Mortgage Broker

May might mark the month when many Canadians are breathlessly waiting for income tax refunds, but it is also the time when prospective home buyers can enjoy a little good news about home prices dropping across the country. According to the Canadian Real Estate Association (CREA), the country’s average home price fell to $491,000, a 10.4 per cent drop from …

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Bank of Canada maintains overnight rate target at 1 ¼ per cent

In Stories by Vancouver Mortgage Broker

The Bank of Canada today maintained its target for the overnight rate at 1 ¼ per cent. The Bank Rate is correspondingly 1 ½ per cent and the deposit rate is 1 per cent. Inflation in Canada is close to 2 per cent as temporary factors that have been weighing on inflation have largely dissipated, as expected. Consistent with an …

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Stress Test Best Practices Tool Kit

In Stories by Vancouver Mortgage Broker

With the new Office of the Superintendent of Financial Institutions stress test rules firmly in place since January, Canadian homebuyers have learned they need to arm themselves with practical information on how they can ensure they are “stress-test ready”. Contact us. Seriously. We are your Took Kit. Every lender has taken these Stress Test Guidelines differently … and there are …

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Mission Accomplished: The Fall of Real Estate

In Stories by Vancouver Mortgage Broker

Governments at all levels have been relentless in their efforts to reign in real estate – the top industry in 7 out of 10 provinces. Just think of how hard they’ve worked. In February, 2016 the former Liberal government in BC increased the property purchase tax on homes over $2 million (impacting the vast majority of single detached homes in …