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Economic News

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Showing 1 to 10 of 19 total blog posts

New Canadians, not foreign buyers, the real market driver

Over the past year we have heard and seen a lot of political action and public angst about foreign-home buyers in Metro Vancouver. Since an unprecedented move last August, foreign buyers of homes in the region have been subject to a heavy-handed 15 per cent tax on their purchase. Yet Statistics Canada recently confirmed that […]

Bank of Canada Keeps Benchmark Interest Rate Steady at 1%

On behalf of Lorraine Gingras| Mortgage Specialist l RBC Royal Bank  The Bank of Canada has decided to keep its benchmark interest rate steady at 1 per cent. The bank’s rate, officially known as the target for the overnight rate, has a large impact on the rates that retail banks offer consumers on savings accounts and […]

RBC Mortgage Pre-Approval in 60 Seconds!

RBC and Lorraine Gingras our Mortgage Specialist are introducing a new tool that helps clients get a pre-approval in 60 seconds – completely online. Follow this link to get started!

Sticker Shock and Looking Forward to 2017

The BC Assessment notices that homeowners have seen likely came as shock to some. But what needs to be understood is that a large increase in your property assessment will not automatically translate into a big increase in your property taxes. Property taxes are actually affected by comparing the average change in your city to […]

Faith talks housing options for families with the Vancouver Sun

Faith shares her real estate insights and expertise with the Vancouver Sun. In their February 12 article Faith discusses housing options for families in Vancouver’s hot real estate market. Read the full article on the Vancouver Sun website here: Full Article

Market update from RBC

One US dollar can now buy 1.2087 Canadian Dollars on the spot market…unbelievable. Those who accepted my advice in Aug 2012 are sitting back and smiling I’m sure. China has reported a GDP of 7.4% for fiscal 2014. Although 3x greater than Canada’s GDP it is the lowest GDP China has reported in over 20 […]

The Problem Isn’t Vancouver’s Astronomical Housing Costs— It’s the People Who Buy

The cost of housing in Vancouver really isn’t the issue – it’s the buyers that need a little fixing. The real concern is the types of people who are buying housing specifically in Vancouver and how it will affect the city in the long haul. Those buying high-priced Vancouver homes are either well-off foreigners who […]

REAL ESTATE GOES GLOBAL

The most expensive housing market in North America is now Vancouver. Single-family houses sell for close to a million dollars and ordinary condos go for five or six hundred thousand dollars. The city has found itself submerged in the rise of a truly global market in real estate.   A recent report by Sotheby’s International […]

From Lorraine Gingras, Our RBC Mortgage Specialist…

This Week’s Best Rates TERM RATE 2 Year Fixed Closed 2.54% 3 Year Fixed Closed 2.79% 4 Year Fixed Closed 2.79% 5 Year Fixed Closed 2.99% 7 Year Fixed Closed 3.89% 5 Year Variable Closed Prime – .50% *all rates subject to change without notice. Lorraine Gingras I Mortgage Specialist I Vancouver B.C. RBC Royal […]

From Lorraine Gingras, Our RBC Mortgage Specialist…

This Week’s Best Rates effective April 14, 2014 TERM RATE 2 Year Fixed Closed 2.54% 3 Year Fixed Closed 2.79% 4 Year Fixed Closed 2.89% 5 Year Fixed Closed 3.09% 7 Year Fixed Closed 3.89% 5 Year Variable Closed Prime – .50% *all rates subject to change without notice. **for purchase/switch transactions only.  Some conditions […]

 

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