October 2022

The Bank of Canada Slowed the Pace of Monetary Tightening

Posted on Oct 28, 2022 in Mortgage News

Rising Mortgage Rates - Vancouver Real Estate MLS ListingsThe Governing Council of the Bank of Canada raised its target for the overnight policy rate by 50 basis points today to 3.75% and signalled that the policy rate would rise further. The Bank is also continuing its policy of quantitative tightening (QT), reducing its holdings of Government of Canada bonds, which puts additional upward pressure on lon...

Read More

Bank of Canada Interest Rate Announcement -October 26, 2022

Posted on Oct 26, 2022 in Mortgage News

Fastest Mortgage Rate Change - 30 YearsThe Bank of Canada raised its overnight policy rate by 50 basis points, bringing it to 3.75 per cent, its highest level since 2008. In the statement accompanying the decision, the Bank noted that the Canadian economy continues to operate in excess demand and tight labour markets and as a result inflation remains elevated. Sharply higher interest ra...

Read More

Canadian Inflation (September 2022)

Posted on Oct 22, 2022 in Economics

Change in Real Estate CPI ComponantsCanadian prices, as measured by the Consumer Price Index (CPI), rose 6.9 per cent on a year-over-year basis in September, down from 7 per cent last month. This was the third consecutive month of decelerating price growth driven primarily by declining gasoline prices. Excluding energy, the CPI rose 6.3 per cent year over year in September, up from 6...

Read More

Vancouver Real Estate Statistics - September 2022

Posted on Oct 04, 2022 in Economics

September Vancouver Real Estate Statistics - Yaletown Best RealtorMetro Vancouver saw more home sellers and fewer buyers in September

Home sellers were more active in Metro Vancouver’s housing market in September while home buyer demand remained below the region’s long-term averages.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,687 in September 2022...

Read More