A key segment of Canada’s first-time homebuyer market appears to be delaying its purchasing plans.  A new survey by real estate giant Royal LePage suggests renters are holding back, waiting for further price declines. The survey finds that 40% of renters, who considered buying before signing or renewing their current lease, are waiting for property […]

The Bank of Canada has stayed on the sidelines for its second rate setting in a row, so Canadians hoping for some interest rate relief are going to have to wait a little longer. The central bank’s trendsetting Policy Rate remains at 2.75%. In the comments that came with the rate hold Bank Governor Tiff […]

Canada’s gross domestic product posted better than expected growth in the first three months of this year.  GDP, which is the total value of all goods and services produced by the economy, increased by an annualized rate of 2.2% in the first quarter, up from 1.7% for the same period a year ago.  Analysts had […]

The federal election is done and we now know what the government will look like for the foreseeable future. Among the key promises made during the election campaign were pledges to fix the country’s housing problems. Housing was the number-three domestic issue in the campaign according to a survey conducted for Royal LePage. (The economy/cost […]

Canada’s Gross Domestic Product started the year with good growth and looks poised to meet or exceed expectations for the first quarter even though it slowed in February. Statistics Canada reports January GDP rose by 0.4%, up one-tenth of a percentage point from December.  Early estimates for February suggest growth will be flat.  Still, forecasters […]

Canada once prided itself on its stability.  Post-GFC, the Canadian financial institutions were strong, and the economy remained resilient as the US struggled to recover from the Global Financial Crisis. In 2000, the median household income in Canada was $47,301, which compares to $84,000 in 2024.   This represents a modest annualized increase of 2.4%. […]

With the arrival of the new year comes a new round of predictions about what is ahead for interest rates, mortgages and real estate. Generally, the mood among realtors is up-beat.  The Canadian Real Estate Association has tempered its forecasts but continues to forecast increases for sales and home prices through 2025.  CREA expects an […]

VANCOUVER (December 11, 2024) – The Canadian Mortgage Brokers Association – British Columbia (CMBA-BC) is welcoming today’s announcement by Bank of Canada Governor Tiff Macklem to cut the key overnight rate by 50 basis points —from 3.75 per cent to 3.25 per cent. The central bank is also signalling that further rate reductions may be […]

With inflation deemed to be under control the Bank of Canada is focusing on other factors as it determines its interest rate policy. A major one of those is economic growth, or Gross Domestic Product.  GDP is the value of all goods and services produced by the economy. The latest numbers from Statistics Canada show […]

The October inflation report caused a minor commotion but it does not appear to have upset things enough to see the Bank of Canada change course. Statistics Canada reports headline inflation, also known as the Consumer Price Index, rose to 2.0%, on a year-over-year basis, up from 1.6% in September.  An increase was expected, but […]