[Invis - January 5, 2022] Canadians keep talking about the housing market! Are we in a housing bubble, will rates rise in 2022 and by how much, is this the right time to buy or refinance, is a lender's renewal offer the best available, and on and on! For many, it feels like some uncertain times ahead. Often, it's just a few sensible strategies that can help you thrive in the current climate. Here are my top tips for the [...]
[Globe and Mail - December 17, 2021] Canada’s bank regulator said it is not changing the mortgage stress test, calling the borrowing rules “adequate,” even as home prices continue to accelerate and household debt rapidly increases. The Office of the Superintendent of Financial Institutions, or OSFI, said the mortgage stress test for uninsured mortgages will continue to require borrowers to qualify at a rate of 5.25 per cent. The Finance Department also said the rate would remain the same for borrowers [...]
[Globe and Mail - December 10, 2021] An infill project on a quiet Vancouver street illustrates the potential for densifying the city’s single-family lots. Instead of building yet another monster house on the 21,000-square-foot lot at 1312 W. 57th Ave., the developers saved a handsome heritage house and turned it into eight strata homes with potential for two rental suites. Sales for the project, called Hudson 8, just launched, and marketer Jacky Chan, president of BakerWest Real Estate Inc., says there’s [...]
Invis - December 8, 2021 Given inflationary pressures, the Bank of Canada indicated in their last rate announcement that rate hikes could take place earlier than previously indicated, in mid-2022, which means variable rates that rise and fall in tandem with the key rate will start climbing. Views among economists vary as to how many hikes we'll see in 2022 and 2023 because no one really knows whether inflation is truly transitory given supply chain issues, or even if it [...]
[Vancouver Sun - January 2, 2022] Since the pandemic began in March 2020, house prices across Canada have jumped 34 per cent The B.C. Assessment Authority has updated its website allowing home owners to see what the value of their home was as of July 1, 2021. The Crown corporation will be releasing full details of property value increases across the province on Jan. 4. To check your home’s value go to their bcassessment.ca and search under the address. To see how much [...]
[Crea - September 15, 2021] Ottawa, ON September 15, 2021 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate boards and associations. Over the past several years, record levels of international immigration (not including 2020), low interest rates, and an increasingly middle-aged Millennial cohort have come together to fuel very strong household formation and housing demand in Canada. Recall that prior to COVID-19, the [...]
[Fool.com - October 13, 2021] Here's how to get a home improvement project off the ground. In the course of the pandemic, many people have taken to spending more time at home -- especially those whose offices have been shuttered over the past 18 months. It's not surprising, then, that many homeowners have been renovating their properties, whether by adding square footage or reconfiguring their existing setups. If you've been thinking of renovating your home, you may have encountered some barriers along [...]
[News 1130 - October 6, 2021] NANAIMO (NEWS 1130) — While temperatures are expected to cool in the coming months, home prices in B.C. will not, according to the new Fall Housing Market outlook report by RE/MAX. RE/MAX projects housing prices will rise by two to five per cent through the end of 2021 in Vancouver. However, it is not the most expensive area. The largest jump is expected to be for homes sold in two cities on Vancouver Island: Nanaimo (nine [...]
[Financial Post - September 23, 2021] Homeowners who need funds should weigh their options before tapping a home for income Just because you’re house-rich doesn’t mean you can’t go broke. Many homeowners who lack sufficient retirement income can find themselves faced with a difficult choice: sell a beloved home or turn it into an emergency income source. One option is to take out a reverse mortgage, which can let them maintain their lifestyles while staying put. But it’s a big decision. While a conventional [...]
[The Motley Fool - October 6, 2021] The forecasts for the interest rate hike are varied, but the consensus is Q4 2022. Investors looking for buying opportunities before it happens should consider National Bank of Canada stock or Real Matters stock for income or growth. Most economists and market analysts predict that the Bank of Canada will increase its interest rate by Q4 2022. Well Fargo’s outlook is more hawkish than the consensus forecast. The American bank says the initial rate [...]
