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Mortgage Rate Forecast (December 2019)
Highlights: Wild year for interest rates Canadian economy: slow and steady Why is the Bank of Canada holding back? Mortgage Rate Outlook As the year ends, it's worth reflecting on how significantly the Canadian interest rate environment has changed in just twelve months. One year ago, the Canadian yield curve was its ...
Continue ReadingFourth Quarter Housing Forecast
The British Columbia Real Estate Association (BCREA) released its 2019 Fourth Quarter Housing Forecast today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 1.8 percent to about 77,100 units this year, after recording 78,505 residential sales in 2018. MLS® residential sales are forecast to increase 10.9 percent to ...
Continue ReadingBank of Canada Interest Rate Announcement
The Bank of Canada held its overnight rate at 1.75 percent October 30, 2019. In the statement accompanying the decision, the Bank noted that ongoing trade conflicts have weakened the global economic outlook, which is expected to drag Canadian economic growth below its potential in the second half of this ...
Continue ReadingMarket Momentum Continues into the Fall
The British Columbia Real Estate Association (BCREA) reports that a total of 6,938 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in September, an increase of 24 percent from the same month last year. The average MLS® residential price in the province was $697,943, an increase of 2.1 percent ...
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