Mortgage News

Canadian Inflation (September 2020)

Posted on Oct 21, 2020 in Mortgage News

Canadian Inflation - September 2020Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 0.5% in September year-over-year, up from the previous month's increase of 0.1%. Excluding gasoline, the CPI rose by 1.0%. Prices rose in six of eight components year-over-year with notable increases in shelter (1.7%), food (1.6%), and health/personal care (1.6%), while price...

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Commercial Real Estate Sales Update - Q2 2020

Posted on Sep 28, 2020 in Mortgage News

Q2 2020 - Commercial Real Estate UpdateCommercial real estate sales decline in the second quarter

As the COVID 19 pandemic intensified in the second quarter of 2020 (Q2), the Lower Mainland’s commercial real estate market experienced fewer sales while dollar values fluctuated depending on property type.

Commercial real estate sales totalled 324 in the Lower Mainland in Q2 2020, a 26.5 per...

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Bank of Canada Interest Rate Announcement

Posted on Sep 09, 2020 in Mortgage News

Bank of Canada Interest Rates - September 2020The Bank of Canada held its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank is also continuing its quantitative easing (QE) program, with large scale asset purchases of at least $5 billion per week in Government of Canada bonds. In the statement accompanying the decision, the Bank noted that th...

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Commercial Activity Impacted by Pandemic in 2020 Q2

Posted on Sep 01, 2020 in Mortgage News

Commercial Real Estate Lending - Vancouver BCThe BCREA Commercial Leading Indicator (CLI) continued to fall in the second quarter of 2020 from 127.6 to 121.9, representing the fourth consecutive quarterly decline. It was the second largest drop in the indicator in over two decades, reflecting the hardest hit months of the pandemic in April and May. Compared to the same time last year, the ind...

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Bank of Canada Interest Rate Announcement

Posted on Jul 15, 2020 in Mortgage News

Bank of Canada Interest Rates - July 2020The Bank of Canada held its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. In addition, the Bank is continuing its quantitative easing program, committing to large-scale asset purchases of at least $5 billion per week of Government of Canada bonds along with continued purchases of provincial and corpor...

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CMHC Makes It More Difficult To Get An Insured Mortgage

Posted on Jun 05, 2020 in Mortgage News

CMHC Makes It More Difficult To Get An Insured MortgageOnce again, the Canadian Mortgage and Housing Corporation (CMHC) is tightening the criteria to get a mortgage with less than a 20% down payment. Any potential home buyer with less than a 20% down payment must purchase default insurance on their loan and have a minimum down payment of 5%. CMHC is a federal Crown Corporation that provides such defaul...

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