You’ve probably seen the headlines: the Bank of Canada has raised their key interest rate. Yet again. And this hike isn’t any less forgiving than the last one. In another unprecedented move (anyone sick of that word yet?) the rate increased by 0.50%, double the normal increase of 0.25%. Yes, it’s a big jump that’s […]Read more "Rates Are On the Up and Up… But For How Much Longer?"
From all accounts, floating-rate mortgages continue to outsell 5-year fixed terms. It doesn’t hurt that variables are priced at an average of 184 basis points below 5-year fixed rates. Come June 22, however, more people will be questioning their faith in variables. That’s when we’ll receive May inflation data, and it should be enough to […]Read more "Fixed rate vs. Variable: Stop guessing at the mortgage game"
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."
The Big 6 banks have raised their expectations for Bank of Canada rate hikes, with most expecting another 125 to 150 basis points in tightening by the end of the year. RBC was the latest to revise its expectations, matching Scotiabank’s call that the Bank of Canada’s key lending rate will reach 2.50% this year. […]Read more "BoC rate hike expectations grow"
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"
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"
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 […]Read more "8 Around-the-House Projects to Tackle"
Click the links below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single family homes for cities across B.C. Abbotsford Bowen Island Burnaby East Burnaby North Burnaby South Cloverdale Coquitlam Kelowna Ladner Langley Maple Ridge Mission Nanaimo New […]Read more "Monthly Market Update"
Tidy Up First and foremost, you should make sure your bedroom is clean. It’s not just better hygienically and aesthetically speaking, but it can also be less stressful. “None of us want be in this situation, but we’re in it, so we can at least keep our spaces clean, which can it can make you […]Read more "You Can Make Your Bedroom More Relaxing Right Now"
For when perfected your outdoor garden and are ready to enjoy. Summer is on its way and warmer temperatures have us running outside to enjoy any space we have. Whether you’re working with a fire escape patio or a wide open backyard, we’ve rounded up plenty of ways to work with what you have. Read on—the […]Read more "Backyard Activities to Enjoy Right Now"