Read BCREA’s latest BCREA Market Intelligence Report: The Impact of the B20 Stress Test on BC Home Sales in 2018 (July 2019). Summary findings include: the decline in home sales in 2018 was largely due to market factors like interest rates and affordability; without the stress test, home sales in BC would have ...
Continue ReadingHighlights: Mortgage Rates return to 2017 Levels Canadian economy falters in first quarter Time for the Bank of Canada to cut rates? The big news in the Canadian mortgage market is the return of sub 3 percent five-year mortgage rates. The last year of mortgage rate increases has essentially been ...
Continue ReadingThe British Columbia Real Estate Association (BCREA) reports that a total of 5,707 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in March, a decline of 23 percent from the same month last year. The average MLS® residential price in the province was $687,720, a decline of ...
Continue ReadingThe British Columbia Real Estate Association (BCREA) is calling on the federal government to revisit the B-20 stress test so that more BC families can achieve their dream of home-ownership. Mortgage lending rules, known as the B-20 stress test, have eroded housing affordability by reducing the purchasing power of families ...
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