Posted on
July 17, 2015
by
Hafez Panju
The Bank of Canada announced on July 15th, 2015 that it was lowering its trend-setting target overnight lending rate from 0.75 per cent to 0.50 per cent. The move follows another cut of the same size in January.
The Bank indicated that it expects the Canadian economy shrank modestly in the first half of the year but has begun to rebound and will gain steam. While its decision to lower interest rates is aimed at supporting business investment and exports, revisions to the Bank’s economic forecast also indicate that lower interest rates will also boost consumer spending and housing activity....
Posted on
July 15, 2015
by
Hafez Panju
The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.
Total CPI inflation in Canada has been around 1 per cent in recent months, reflecting year-over-year price declines for consumer energy products. Core inflation has been close to 2 per cent, with disinflationary pressures from economic slack being offset by transitory effects of the past depreciation of the Canadian dollar and some sector-specific factors. Setting aside...
Posted on
July 14, 2015
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that a total of 11,294 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June, up 25.6 per cent from the same month last year. Total sales dollar volume was $7.1 billion, a 42.6 per cent increase in comparison to the previous year. The average MLS® residential price in the province rose to $631,962, a 13.5 per cent increase since last June.
“BC home sales posted the second strongest June on record,” said Brendon Ogmundson, BCREA Economist. “A growing...
Posted on
July 9, 2015
by
Hafez Panju
The trend measure of housing starts in Canada was 183,959 units in June compared to 179,908 in May, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
“The trend in housing starts increased this month as multiple starts trended upward, offsetting a downward trend in single-detached home starts,” said Bob Dugan, CMHC’s Chief Economist. “The rise in the trend of multiple starts reflects a 53% increase in seasonally&n...
Posted on
July 8, 2015
by
Hafez Panju
Huge 1 Bedroom Home in one of SFU's, UniverCity's "greenest" buildings. Excellent proximity to campus, shops and bus loop or great rental income property.
WOW, this is a must see 1bed/1bath home at a generous 633sqft. Located in Origin, by Porte Development, one of SFU's "greenest" buildings, offering sustainable features such as Energy Star appliances, in-floor hydronic heating, low VOCflooring & more. Quality finishing: quartz counters, ceiling height cabinets, laminate floors, plenty of closet space, office nook, built-in media center & large covered balcony. Pet friendly, rentals allowed...
Posted on
July 1, 2015
by
Hafez Panju
Last month was the highest selling June, and the second highest overall monthly total, on record for the Real Estate Board of Greater Vancouver (REBGV).
The REBGV reports that residential property sales in Metro Vancouver* reached 4,375 on the Multiple Listing Service® (MLS®) in June 2015. This represents a 28.4 per cent increase compared to the 3,406 sales recorded in June 2014, and an increase of 7.9 per cent compared to the 4,056 sales in May 2015.
Last month’s sales were 29.1 per cent above the 10-year sales average for the month. It’s the fourth...
