While it may have been the sixth consecutive month-over-month decline for Canadian housing activity, August’s home sales only dipped 1% from July—the smallest decrease seen during this slowdown period. “Along with a stabilization of demand/supply conditions in many markets, [it] could be an early sign that this year’s sharp adjustment in housing markets across Canada […]
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Deciding on the qualifying interest rate In the past, I argued that the qualifying rate should be the higher of 3.75% or the actual contract rate. Given what’s happening now, was I wrong? Actually, I think what’s happening now vindicates my position. The argument for the 3.75% test rate had two major parts: The policy […]
Read more "A deep-dive into mortgage stress tests"As of June 2022, we are currently seeing unnatural discrepancies in the size of mortgage loans borrowers will qualify for, and it’s all because of a rift in the stress test continuim. You see, most 5-year fixed mortgage rates are already over 5%, making their stress test a full 2% higher at 7% or more. Concurrently, […]
Read more "How the mortgage stress test is impacting qualification amounts."A new Canadian startup is looking to shake up the homebuying process by allowing homeowners to make their next purchase before the sale of their current home. Fundible, which officially launched today in Alberta and Ontario, boasts 100% assured financing so that a homebuyer can make a financing-free purchase offer without having to worry about […]
Read more "Newly Launched Fundible Allows Canadians to Buy Before Selling"Madeleine Nicholls, Colliers VancouverDec 28, 2021 8:52 AM If you walk around downtown Vancouver it feels like things are back to normal. But inside many office towers, it’s different, with floor upon empty floor… Vancouver’s commercial real estate sector has seen record volumes and revenues in the past year, with vacancy rates continuing to fall […]
Read more "CRE OUTLOOK 2022: A banner year coming, despite some bruises"The latest data from BC Assessment shows significant increases in property values across the Lower Mainland. It’s another blow for young people hoping to buy, experts say. The numbers, which are based on market values as of July 1, 2021, were released Sunday, showing increases hovering around 20 per cent and higher across the region […]
Read more "Latest data from BC Assessment paints a grim picture for young, hopeful buyers, experts say"The trajectory for Metro Vancouver’s housing market continues to be upwards, with heightened demand expected to propel prices even further next year. According to Royal LePage’s new market forecast, by the fourth quarter of 2022, the median price of a single-family detached property in the region is expected to increase 12% year-over-year to $1.893 million. […]
Read more "Vancouver house prices expected to soar 12% to $1.9 million in 2022"Valley home sales are up 80 per cent and prices 25 per cent higher this year compared to 2020 – but active listings have plunged to 30-year lows. The Fraser Valley is posting the highest home sales and price increases in urban British Columbia this year, but Valley real estate agents warn that a shortage […]
Read more "Fraser Valley posts highest home sale, price increases"MORE than 70 farmers from throughout British Columbia have found new opportunities in farming communities through the B.C. Land Matching Program (BCLMP). Delivered by Young Agrarians, the BCLMP connects new, young and established farmers with landholders seeking to lease their properties to ensure their land stays in production or starts producing food. Since the pilot launch, […]
Read more "More farmers get access to affordable, available farmland in B.C."Tidy up the garage, clean the patio furniture or finally get around to that DIY project…we all have a list of projects around the house that seems to grow faster than you can finish it. Now that you might be spending more time around the house, why not use this as an opportunity to start a […]
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