Zumper’s annual report ranked Kelowna as the fourth most expensive city in Canada JACQUELINE GELINEAU The price of rent in Kelowna has increased more than any other major city in Canada this year. “Kelowna remains a highly desirable place to live with a strong demand for housing, and...
ERICA ALINI Federal rules aimed at taming financial risk in the mortgage market are giving some home buyers an incentive to choose variable rates despite rapidly climbing interest rates, some brokers say. The bar to clearing Ottawa’s mortgage stress test is currently likely to be lower if...
By Doyle Potenteau Global News Housing starts in the Central Okanagan are down from one year ago, even though the region’s population grew slightly and local businesses are clambering more than ever to find employees. That’s according to data published this week by the Central Okanagan...
By Kathy Michaels Global News Okanagan realtors are seeing signs that the market is becoming “healthier” in the wake of the Bank of Canada’s interest rate hike. According to the Association of Interior Realtors, a total of 1,708 residential unit sales were recorded across the Shuswap...
Taxation on buyers now being trumped by emphasis on increasing supply of new homes By Peter Mitham | April 25, 2022 Developers should expect stronger moves by senior levels of government to set housing targets for municipalities, now that housing supply – not speculation – is seen...
April 24, 2022 Rob Munro After leading Canada’s largest cities with the highest growth rate at 14% during the last census period, Kelowna has continued to draw more people. In 2021, another 5,000 people moved to Kelowna, according to the city’s annual Housing Report going to city council...
By Ephraim Vecina 25 Feb 2022 Contrary to expectations, the upward path for interest rates will be slower and lower, not faster and higher, in Canada compared to the United States, according to CIBC’s Benjamin Tal. Prognosticators are also likely mistaken about how large the Bank of Canada’s...
By Fergal McAlinden The Bank of Canada has once again stayed the course on its benchmark policy rate, announcing no change to that key rate in its first announcement of the year – but acknowledging that interest rates “will need to increase.” The central bank said that...
Michelle Zadikian, BNN Bloomberg The Bank of Canada has some difficult realities to weigh ahead of its Jan. 26 interest rate decision. On one hand, the central bank’s latest Business Outlook Survey highlighted how concerns are continuing to mount in the business community about prolonged inflation. On...
By Josh RubinBusiness Reporter Mon., Jan. 17, 2022 Trying to read Bank of Canada press releases can be a little bit like taking a Rorschach test: They’re open to an awful lot of interpretation. But after interpreting the Bank’s words these days — and looking at rising inflation...