Each Office Independently Owned & Operated
Posted by: Dean Kimoto
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. The global economy is slowing and growth is forecast to moderate further as past increases in policy rates and the […]
Read MorePosted by: Dean Kimoto
Canada’s banking regulator confirmed today that it will no longer pursue at least several of the proposed mortgage regulations it had introduced earlier this year after they were met with widespread concern and criticism during its public consultation period. Nine months after the Office of the Superintendent of Financial Institutions (OSFI) unveiled its proposed measure related to […]
Read MorePosted by: Dean Kimoto
While Canada’s main political Parties have been doing a lot of talking about getting people into homes, actual construction continues to lag. The latest figures from Canada Mortgage and Housing Corporation show housing construction, in the country’s six biggest metropolitan areas, increased by a mere 1.0% in the first half of 2023, compared to a […]
Read MorePosted by: Dean Kimoto
Real estate listings in the country’s largest metro areas continued to grow in September while buyer demand is trending downward. The shifting market dynamic was so pronounced in the greater Vancouver and Toronto areas that they are now officially in a buyer’s market. New listings in the GTA were up 44% in September to a […]
Read MorePosted by: Dean Kimoto
An interesting new survey suggests a growing number of Canadians may be getting ready to move back into the housing market. The newly launched survey by Dye and Durham indicates one in ten are looking to sell their primary residence and move into a new one within the next 12 months; double the number who made the […]
Read MorePosted by: Dean Kimoto
The Bank of Canada says larger and more frequent price increases by businesses have contributed to keeping inflation higher than the Bank would like. The comments were made by BoC Deputy Governor Nicolas Vincent during a speech on Tuesday on the topic of pricing practices and monetary policy. Vincent said the way in which businesses […]
Read MorePosted by: Dean Kimoto
“It ain’t good.” That’s the assessment from Ron Butler of Butler Mortgage following the latest surge in bond yields this week, and as mortgage providers continue to raise mortgage rates. On Tuesday, the Government of Canada 5-year bond yield jumped to an intraday high of 4.46%, but have since retreated to around 4.32% as of […]
Read MorePosted by: Dean Kimoto
Mortgage providers across the country have been busy raising rates over the past week, and it could continue next week as bond yields continue to rise. On Thursday, the Government of Canada 5-year bond yield briefly surged to an intra-day high above 4.41%. It pulled back slightly, but remains at a 16-year high. As a […]
Read MorePosted by: Dean Kimoto
Even though prospective homeowners usually pay for their home appraisal, many remain unaware that they typically won’t receive a copy of it. That’s because the professional appraiser sent to calculate the value of a home—which can cost anywhere from a few hundred to several thousand dollars—doesn’t actually work for the prospective homeowner. “Most brokers know […]
Read MorePosted by: Dean Kimoto
Fixed mortgage rates could surge higher in the coming week after Government of Canada bond yields—which lead fixed mortgage rates—shot up to a 16-year-high. Rate-watchers say mortgage providers could hike rates by anywhere from 20 to 30 basis points (0.20% to 0.30%). “Fixed rates should be up 20 bps on this news, however if the […]
Read More