Canadian National Real Estate News

Canada’s Ban on Foreign Home Buyers Coming in January 2023

Kirsten Mason — Sat, 31 Dec 2022 19:07:11 +0000

On January 1st, 2023 the Canadian Government is implementing a ban on foreign home buyers. Canadian citizens and permanent residents are exempt from the ban while other buyers have different rules based on their situation. International students and foreign workers are permitted to purchase a property in Canada but they have restrictions they have to satisfy before being able to [...]

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Commercial Leading Indicator December 2022CLI Falls in Third Quarter 2022

Kirsten Mason — Fri, 02 Dec 2022 17:24:20 +0000

The BCREA Commercial Leading Indicator (CLI) fell to 149 from 153 in the third quarter of 2022 while the six-month moving average retreated from a record high. Compared to the same time in 2021, the index was down by 0.8 per cent. It is important to note that while the Canadian economy has enjoyed a strong recovery, the environment for [...]

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CLI Falls in Third Quarter 2022 appeared first on Kamloops Real Estate Blog.

BCREA: Canadian Housing Starts September 2022

Kirsten Mason — Tue, 18 Oct 2022 16:04:40 +0000

Canadian Housing Starts (September 2022) – October 18, 2022Canadian housing starts rose by 29.2k (10.8 per cent) to 299.6k units in September at a seasonally-adjusted annual rate (SAAR). Comparing year-over-year, starts were up from September of 2021 (19.3 per cent). Single-detached housing starts fell 1 per cent to 76.5k, while multi-family and others rose 16 per cent to 223.1k (SAAR). [...]

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BCREA: Mortgage Rate Forecast June 2022

Kirsten Mason — Thu, 16 Jun 2022 20:52:43 +0000

BCREA has released it’s latest mortgage rate forecast. To summarize their report: Economic Outlook Bank of Canada Outlook Full Report is included below or download the PDF here. Click here to visit to BCREA’s website. To view other statistics for the Kamloops and BC real estate market click here. If you want to be kept informed on Kamloops Real Estate, News and [...]

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BCREA Mortgage Rate Outlook

Kirsten Mason — Sun, 04 Oct 2020 17:31:33 +0000

BCREA released it’s latest mortgage rate outlook. Read below and link to full report is included below. The average Canadian 5-year fixed rate has fallen to under 2 per cent, the result of a rapid and overwhelming policy response from the Bank of Canada to the COVID-19 pandemic. The Bank swiftly brought its overnight rate to its effective lower bound [...]

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BCREA Mortgage Rate Forecast for March 2020

Kirsten Mason — Sat, 28 Mar 2020 18:07:37 +0000

BCREA just released it’s Mortgage Rate Forecast for March and the year of 2020. With the COVID-19 mortgage rates have dropped. The Bank of Canada recently cut the rate again however says it is at a point where it can’t go lower. It is looking like a Canadian recession is unavoidable however it all depends on how long the pandemic [...]

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Mortgage Rate Forecast: Rates Set To Rise Again in 2018, BCREA

Kirsten Mason — Sat, 16 Dec 2017 17:56:52 +0000

• Rising rates and tighter mortgage regulations in 2018 • Canadian economy slowing • Bank of Canada waiting on higher inflation Mortgage Rate Outlook Canadian mortgage rates rose substantially in 2017 and are forecast to rise further in 2018. After beginning the year at or near historical lows for both the qualifying rate as well as 5-year contract rates, an [...]

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Mortgage Rates Expected to Remain Steady Despite Recent Spree of Hikes, CBC News

Kirsten Mason — Thu, 21 Jan 2016 00:18:30 +0000

This article appeared on the CBC News website on January 20th, 2016 and was written by Sheena Goodyear. Despite a topsy-turvy mortgage landscape that has seen rates go up unexpectedly, don’t expect your monthly payments to skyrocket any time soon, economists say. “I think that mortgage rates will remain relatively stable,” CIBC deputy chief economist Benamin Tal told CBC News. [...]

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Bank of Canada Interest Rate Cut Expectations Tick Higher, Business News Network

Kirsten Mason — Thu, 14 Jan 2016 21:22:27 +0000

This article appeared on the Business News Network on January 14th, 2016 and was written by Fergal Smith of Reuters. Bank of Canada interest rate cut speculation intensified on Tuesday as crude oil prices and the Canadian dollar both weakened to 12-year lows, with traders pricing in a full 25-basis-point easing by mid year. The Canadian central bank cut rates [...]

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CMHC Mortgage Holders Spend 26% of Income on Housing Loan Defaults at Low 0.34%, Showing Strong Ability to Manage Debts

Kirsten Mason — Sun, 31 May 2015 17:16:24 +0000

This article appeared on CBC.ca on the 29th of May 2015. Canadians are showing a strong ability to manage their debts even as housing prices rise, with arrears on CMHC mortgages at a low 0.34 per cent for the first quarter of this year, according to new figures from the federal housing agency. That means there were 9,572 Canada Mortgage [...]

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