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FREE HOME BUYERS SEMINAR- NOV 19th
OWN IT- Home Buyers 2hr Seminar OWN IT is a seminar conducted by a team of experienced Realtors with Living Real Estate and Diane Macpherson an Accredited Mortgage Professional with OneLink Mortgage. The secrets shared at this seminar will help you make the right real estate investment decisions for the rest of your life -It will be the best 2 hours you spend this year! Whether its yourFIRSThome, yourNEXThome or yourLASThome you have questions and you deserve real answers. -How much can I afford? -What are my options for a down payment? -What is the difference between Pre-Approved and Pre-Qualified? -What is a better investment a condo or a house? -How can I build equity quickly? At the exclusiveOWN ITseminar you will learn the secrets of local industry experts. When: Thursday November 19, 2015 5:30pm - 7:30pm Where: 478 River Ave 3rd Floor - Living Real Estate Cost: FREE Seating is limited so register today athttp://livingrealestate.ca/own-it-home-buyers-seminar.html
Vancouver the main driver of the Composite in December
Vancouver the main driver of the Composite in December says Teranet and National Bank of Canada Without Vancouver, the Composite index would have declined for a fourth month in a row. The strength of Vancouver’s index is consistent with continued tight home resale market conditions. Toronto’s index declined for a fifth consecutive month, but the unsmoothed index (see note on methodology on next page) rose for a second month in a row (middle chart). Unless the unsmoothed index relapses in January, the sequence of declines in the smoothed index should then be interrupted. However this improvement is likely to prove temporary, as it might have resulted from buyers rushing to avoid the new bylaws on qualification for an uninsured mortgage (implemented in January 2018). This view is supported by the increase in Toronto home sales in November and December compared to previous months (bottom chart). Therefore, a resumption of the downward price trend early this year cannot be excluded. Please click on the link below to access the full report: 201712 TNB monthly commentary
Bank of Canada increases overnight rate target to 1 1/4 per cent
The Bank of Canada today increased its target for the overnight rate to 1 1/4 per cent. The Bank Rate is correspondingly 1 1/2 per cent and the deposit rate is 1 per cent. Recent data have been strong, inflation is close to target, and the economy is operating roughly at capacity. However, uncertainty surrounding the future of the North American Free Trade Agreement (NAFTA) is clouding the economic outlook. The global economy continues to strengthen, with growth expected to average 3 1/2 per cent over the projection horizon. Growth in advanced economies is projected to be stronger than in the Banks October Monetary Policy Report(MPR). In particular, there are signs of increasing momentum in the US economy, which will be boosted further by recent tax changes. Global commodity prices are higher, although the benefits to Canada are being diluted by wider spreads between benchmark world and Canadian oil prices. In Canada, real GDP growth is expected to slow to 2.2 per cent in 2018 and 1.6 per cent in 2019, following an estimated 3.0 per cent in 2017. Growth is expected to remain above potential through the first quarter of 2018 and then slow to a rate close to potential for the rest of the projection horizon.