Mortgage News

Vancouver Real Estate Statistics - April 2020

Posted on May 04, 2020 in Mortgage News

April 2020 - Vancouver Real Estate StatsHome sales and listings down amid COVID-19, new tools and practices emerge to help buyers and sellers adapt

While Metro Vancouver home sale and listing activity remains limited by the COVID-19 situation, REALTORS® across the region are fast adopting new tools and practices to help advise and serve their clients in a responsible way.

The Real Estate...

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Is It Different This Time? Recessions and the BC Housing Market

Posted on Apr 20, 2020 in Mortgage News

Is It Different This Time? Recessions and the BC Housing Market Summary Findings:

• The 2020 COVID-19 driven recession will be deep, though the duration may be shorter than past recessions
• We expect that home sales will post an initial sharp decline as households and the real estate sector adhere to social distancing
• As measures implemented to mitigate the spread of COVID-19 are gradually lifted, we expect tha...

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 Bank of Canada Interest Rate Announcement

Posted on Apr 15, 2020 in Mortgage News

Bank of Canada Interest Rates - April 2020The Bank of Canada maintained its overnight policy rate at 0.25 per cent this morning, a level it considers to be its effective lower bound. The Bank also announced additional new measures to support the Canadian financial system. In its statement, the bank noted that efforts necessary to contain the spread of COVID-19 have caused a sudden and deep...

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Canada’s Six Biggest Banks Take Decisive Action to Help Customers Impacted by COVID-19

Posted on Mar 18, 2020 in Mortgage News

Canada’s Six Biggest Banks Take Decisive Action to Help Customers Impacted by COVID-19Canada’s six largest banks today announced plans to provide financial relief to Canadians impacted by the economic consequences of COVID-19.

Effective immediately, Bank of Montreal, CIBC, National Bank of Canada, RBC Royal Bank, Scotiabank and TD Bank have made a commitment to work with personal and small business banking customers on a case-by-case...

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Interest Rates Nosedive as Bank of Canada Cuts Rates 50 bps

Posted on Mar 06, 2020 in Mortgage News

Mortgage Rate News & ForecastFollowing yesterday's surprise emergency 50 basis point (bp) rate cut by the Fed, the Bank of Canada followed suit today and signaled it is poised to do more if necessary. 

The BoC lowered its target for the overnight rate by 50 bps to 1.25%, suggesting that "the COVID-19 virus is a material negative shock to the Canadian and global outlooks." This i...

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Bank of Canada Interest Rate Announcement

Posted on Mar 04, 2020 in Mortgage News

Canadian Interest Rate AnnouncementThe Bank of Canada lowered its overnight rate by 50 basis points this morning to 1.25 per cent. This move is part of a coordinated action by global central banks to guard against the negative consequences of the Coronavirus outbreak. In its statement, the Bank noted that although the Canadian economy is operating near potential and inflation is at...

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