26 Mar

Lower mortgage rates as bond yield inverts

General

Posted by: Kimberly and Cindy Walker

The current decline in the bonds market is good news for Canadian fixed-rate mortgage borrowers with rates heading lower. As the bond market yields invert – as they did Monday in Canada – the cost to banks of borrowing in the market declines, meaning they are able to finance mortgages at a lower rate and […]

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21 Mar

Real estate bodies restate case for 30-year backed loans

General

Posted by: Kimberly and Cindy Walker

More industry bodies representing real estate agents have given their views on the federal government’s latest housing measures. Reaction to the government’s budget measures remain mixed but the Canadian Real Estate Association, the British Columbia Real Estate Association and the Toronto Real Estate Board have all welcomed the focus on affordability for first-time buyers. However, […]

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18 Mar

Housing market hit by the “bitter pill” of stress tests says CREA

General

Posted by: Kimberly and Cindy Walker

Canada’s housing market likely to remain subdued this year but should see an uptick in 2020 as the impact of policy changes begin to ease. Sales are expected to remain weak amid lower access to mortgages caused by rising interest rates and stress tests. However, prices will rise in 2019 following a stabilization in 2018. […]

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5 Mar

Vancouver’s homebuyers remain in the driving seat

General

Posted by: Kimberly and Cindy Walker

As the spring buying season approaches, Metro Vancouver’s housing market continues to exhibit weakness with buyers firmly in control. February’s data from the Real Estate Board of Greater Vancouver shows a 32.8% drop in sales year-over-year to 1,484, more than 42% below the 10-year average for the month. Sales were up 34.5% compared to January. […]

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26 Feb

BC becomes first in Canada with housing ‘integrity’ register

General

Posted by: Kimberly and Cindy Walker

The identity and citizenship of all parties in a condo or strata transaction in British Columbia will be listed in a new register. The BC finance minister confirmed Monday that the provincial government has launched the Condo and Strata Assignment Integrity Register (CSAIR) with the aim of fighting tax evasion and adding more transparency to […]

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25 Feb

B.C. real estate audits reveal widespread tax evasion

General

Posted by: Kimberly and Cindy Walker

After reporting a record number of B.C. real estate audit assessments in 2018 – amounting to about $170 million – the Canada Revenue Agency is expected to receive a treasure trove of data from the B.C. government tying home ownership to income declarations. The province is estimating it will collect $642 million over the next […]

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7 Feb

Mortgage Rates Effective Today

General

Posted by: Kimberly and Cindy Walker

Brought to You By Dominion Lending Centers, Subject to Change Without Notice, Qualifications Apply. 5 yr Fixed Insured Special 3.59% Variable Rate Mortgage Decreased: 3.35% 5 year VRM Insured P-0.60% 5 yr Fixed Insured Special 3.59% Purchase ( Conventional)     Refinance Rates             Rental 4 yr 3.79%                                            3.84%                    3.94% 5 yr 3.69%                                            3.74%                    3.84% 7 yr […]

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