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Posted by: Dean Kimoto
The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. While some elements of US trade policy have started to become more concrete in recent weeks, trade negotiations are fluid, threats of new sectoral tariffs continue, and US trade […]
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The Canadian Federation of Independent Business is forecasting a recession in Canada this year. A new report from CFIB shows it’s forecasting that growth declined 0.8% in the second quarter and will contract by a further 0.8% in the third quarter. The group says an analysis of the impact of tariffs on supply chains highlights […]
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Canada’s pace of new home construction edged up in June, rising 0.4% from May to a seasonally adjusted annualized rate of 283,734 units, according to the Canada Mortgage and Housing Corporation. The seasonally adjusted annual rate (SAAR) of total housing starts reached 283,734 units, up slightly from 282,705 the month before. Urban centres accounted […]
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Lenders have started raising fixed mortgage rates again, with signs pointing to a short-term upward trend. Fixed mortgage rates have been creeping upward over the past week, fuelled by a modest rebound in bond yields following stronger-than-expected economic data. The increases were partly driven by rising U.S. Treasury yields, with the 5-year rising above 4% […]
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Canada’s housing agency says advertised rents in some major cities are easing due to factors such as increased supply and slower immigration, but renters are still not feeling relief. In its mid-year rental market update released Tuesday, Canada Mortgage and Housing Corp. said average asking rents for a two-bedroom purpose-built apartment were down year-over-year in […]
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Canada’s big banks are divided on how much further the Bank of Canada will cut, with RBC now saying the rate has likely bottomed, while others still expect more easing ahead. The outlook for interest rates is becoming less clear-cut as Canada’s major banks rethink how far the Bank of Canada will go in its […]
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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 […]
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Short-term vacation rental platform Airbnb said Friday that “thousands” of reservations in British Columbia are at risk of cancellation, accusing the province of rushing out regulations as it cracked down on the industry. Alex Howell, Airbnb’s Canadian policy lead, said in an interview that the rules requiring short-term rental hosts to confirm their listings are […]
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It’s been more than a year since the BC Financial Services Authority (BCFSA) introduced the optional wildfire clause for real estate transactions. With wildfire season upon us, now is the perfect time to refresh your understanding of how this clause helps manage risk in transactions. How it works The wildfire clause allows for a single extension of up to 30 days for completion, […]
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The Liberal plan to give first-time homebuyers a tax break on a newly built home could have substantial impacts on housing affordability — with a few caveats — a new analysis finds. The Liberal government introduced legislation on June 5 to eliminate the GST portion from new home sales of up to $1 million for […]
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