by Steve Randall 07 Sep 2017 Banks quickly follow BoC with rate hikes Canada’s big banks were quick to announce increases to their prime lending rates to 3.2% Wednesday. The Bank of Canada increased its overnight target rate to 1% despite expecting growth to moderate...

by Steve Randall 16 Aug 2017 The latest forecast from CIBC Capital Markets is for Canadian interest rates to increase again in December this year. In its forecast summary released this week, CIBC calls for a hold steady until then with the 1% rate...

by Steve Randall 23 Feb 2017 A change to the property transfer tax threshold in British Columbia for first-time buyers has come into effect. The increased threshold means that first-time buyers are now exempt from the tax on homes up to $500,000 rather than $475,000...

The foreign home buyer tax that went into effect last August in Vancouver will no longer apply to residents of Metro Vancouver who have a valid work permit, according to Premier Christy Clark. While this appears to be a sudden move, the existing legislation doesn't...

by MBN | 17 Jan 2017 CMHC announced early Tuesday it is increasing its loan insurance premiums effective March 17. “We do not expect the higher premiums to have a significant impact on the ability of Canadians to buy a home,” said Steven Mennill,...

A new government program promises to match the down payment for eligible first-time homebuyers. The BC Government has announced today the BC Home Owner Mortgage and Equity Partnership Program. Under the program, the BC government will match down payment funds of eligible first-time homebuyers up to $37,500...

The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as economic conditions move along largely in line with its expectations. In making the scheduled announcement, the central bank says while the global economy has strengthened, international uncertainty has negatively affected...

The Government of Canada recognizes the importance of a healthy, competitive and stable housing market for all Canadians, including the many Canadian families who count their principal residence as both their home and single biggest asset. The actions described below are meant to respond to...

Protecting the long-term financial security of Canadians is a cornerstone of the Government of Canada’s efforts to help the middle class and those working hard to join it. Recognizing that for many families, their homes are their most important asset, the Government is taking preventative...

by Ephraim Vecina The current wave of mass hysteria in Canada’s hottest residential real estate markets is overpowering consumers’ ability to consider their options in a rational manner, leading to many would-be buyers overextending themselves financially. “Many people, especially first time home buyers...