By Nicole Gibillini Global News Starting June 1, Canadian homebuyers will face tougher mortgage stress test rules that will decrease the buying power of most borrowers. The move, announced by the country’s banking regulator in May, was in response to an overheated market that has already...
by Neil Sharma Rental demand, as a consequence of Canadians priced out of the ownership market, has put immense pressure on supply, but the wrong policies are being touted as solutions. “Supply is not keeping up with demand and there is considerable demand for rental as it...
By Klaudia Van Emmerik Global News The hot real estate market in the Okanagan is having quite a spin-off effect on certain industries. “It’s all hands on deck and then some,” said Nicole Doiron with Bekins Moving and Storage. The moving company is extremely busy, saying as...
by Neil Sharma Much has been made about low interest rates being solely responsible for rapidly rising home prices, but that’s not quite the case, says Scotiabank. “The current situation in Canadian housing markets primarily reflects a chronic insufficiency of home supply that is temporarily exacerbated...
By Doyle Potenteau Global News The Central Okanagan is expected to grow by leaps and bounds during the next two decades, according to a recent webinar. Hosted in late January by the Okanagan chapter of the Urban Development Institute (UDI), the webinar’s keynote speaker discussed Kelowna’s...
The Kelowna CMA is also the fourth fastest growing in Canada JEN ZIELINSKI The Central Okanagan is the fastest-growing metro area in B.C. at 1.9 per cent and the fourth fastest in Canada, according to the latest Statistics Canada data. In 2020, the estimated population for the Kelowna...
By Leo Almazora Feb 02, 2021 The trend of growing use of reverse mortgages across Canada accelerated even further last year as hot housing markets and record-low interest rates made the products even more enticing for homeowners. During the last quarter of 2020, HomeEquity Bank...
by Steve Randall 18 Mar 2020 Canada’s largest banks are coordinating their approach to the COVID-19 coronavirus outbreak to protect their employees and customers. Measures to support both health and finances will have some common elements across the ‘Big Six’ banks - RBC, CIBC, TD, Scotiabank,...
Steve Huebl Bank of Canada March 5, 2020 Canada’s prime rate fell to 3.45% today for the first time since July 2018. This is good news for floating-rate mortgage holders and those with Home Equity Lines of Credit or regular lines of credit. And it’s all thanks...
March 4, 2020 The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 ¼ percent. The Bank Rate is correspondingly 1 ½ percent and the deposit rate is 1 percent. While Canada’s economy has been operating close to potential...