11 Apr

Government to allow longer amortizations for certain first-time buyers

General

Posted by: Mike Hattim

First-time homebuyers purchasing newly built homes will be allowed 30-year amortization periods on insured mortgages, the federal government has announced. Finance minister Chrystia Freeland said in Toronto on Thursday that the move would take effect on August 1 – and also announced that the government would increase the amount first-time buyers can withdraw from RRSPs […]

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9 Apr

Spring housing market surge unlikely

General

Posted by: Mike Hattim

After five straight holds of the Bank of Canada’s key interest rate that followed its hiking cycle of more than a year, economists say a rebound awaits the national housing market — but don’t expect a big surge just yet. The central bank is expected to again hold its key rate steady when it announces […]

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5 Apr

March’s Weak Jobs Report Sets The Stage For A June Rate Cut

General

Posted by: Mike Hattim

Today’s StatsCanada Labour Force Survey for March is much weaker than expected. Employment fell by 2,200, and the employment rate declined for the sixth consecutive month to 61.4%. Total hours worked in March were virtually unchanged but up 0.7% compared with 12 months earlier. The details were similar to the headline: as full-time jobs dipped, total hours worked fell 0.3%, and only two […]

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4 Apr

Revealed – why Canada’s housing crisis will continue

General

Posted by: Mike Hattim

Canada doesn’t have enough skilled tradespeople to build its way out of its current housing shortage, threatening long-term damage to the country’s social fabric, according to a top executive at one of the world’s biggest real estate firms. Housing is becoming the central issue ahead of Canada’s next general election, currently expected in 2025, with a lack […]

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3 Apr

Inflation expectations cast shadow on BoC’s rate decision

General

Posted by: Mike Hattim

New data from the Bank of Canada has economists questioning their earlier predictions for a first interest rate cut. The central bank’s recent business and consumer outlook surveys reveal that while inflation expectations have improved slightly, they remain elevated. Stephen Brown, deputy chief economist at Capital Economics, said this could prompt policymakers to delay action. […]

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2 Apr

Economic Insights from Dr. Sherry Cooper

General

Posted by: Mike Hattim

The Bank of Canada’s Governing Council was split on the timing of rate cuts this year when they deliberated before the March press release. But the February inflation data signaled that rate cuts should be coming soon. After all, inflation has slowed markedly along with the economy. While the unprecedented influx of new immigrants has […]

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2 Apr

Small Home Improvements That Make a BIG Impact

General

Posted by: Mike Hattim

Whether you’re looking to sell your home this year, or just want to make some updates, I have put together six small home improvements that can make a BIG impact on your space! From improving saleability to refreshing your home, here are some simple and affordable ideas to help get you started: Painting: One of […]

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2 Apr

2024 Spring Market Expectations

General

Posted by: Mike Hattim

The spring housing market is just around the corner! Whether you’re looking to sell, buy, or want to ensure your mortgage is in order, knowing what to expect can help. Here is the low down on what we are anticipating for various factors affecting the housing market this season: Interest Rates: While the Bank of […]

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28 Mar

How far will interest rates fall in 2024?

General

Posted by: Mike Hattim

Commercial lenders view interest rate cuts in 2024 as a certainty – but are split on the question of when they’ll fall and by how far, according to a new survey. Crete Capital’s latest lender sentiment report, which polled British Columbia lenders on their performance last year and outlook for the year ahead, revealed that […]

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22 Mar

Here’s how young Canadians are leaping into homeownership

General

Posted by: Mike Hattim

In a landscape where every decision on the housing market hinges on balancing trade-offs, a recent survey by RBC subsidiary Houseful sheds light on how Canada’s younger first-time homebuyers are charting their paths to homeownership. Despite the challenging market, these homebuyers under 30 are not only entering the market sooner than anticipated but are doing […]

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