Bank of Canada Interest Rate Announcement -March 8, 2023
Posted on Mar 08, 2023 in Economics
Bank of Canada Interest Rate Announcement
As signalled in its previous interest rate announcement, The Bank of Canada maintained its overnight rate at 4.5 per cent this morning. In the statement accompanying the decision, the Bank noted that restrictive monetary policy is weighing on demand and it expects weak economic growth for the next couple of...
Getting ready for the Spring Market
Posted on Mar 08, 2023 in Market Update
Preparing for the Spring Market
According to the Canadian Real Estate Association, the Spring market is anticipating a drop in home prices edging down approximately 6% from 2022, putting the average home price at $662,103 in 2023. The downward trend stems from rising interest rates and continued uncertainty in the marketplace.
In some cases, sellers...
Bank of Canada Pauses Hikes as US Fed Signals More Tightening
Posted on Mar 08, 2023 in Community
The Bank of Canada Holds Rates Steady Even As the Fed Promises to Push Higher
As expected, the central bank held the overnight rate at 4.5%, ending, for now, the eight consecutive rate increases over the past year. The Bank is also continuing its policy of quantitative tightening. This is the first pause among major central banks.
Economic growth gro...
Fraud Awareness Month in the Mortgage Industry
Posted on Mar 07, 2023 in Mortgage News
Fraud Awareness Month
Did you know? March is fraud awareness month in the mortgage industry, which makes this is a great time to talk about title insurance!
As our insurance experts, FCT is a leading provider of title insurance and has some helpful information for you:
For those who don’t know, title fraud can impact both homebuyers and homeowners. S...
As our insurance experts, FCT is a leading provider of title insurance and has some helpful information for you:
For those who don’t know, title fraud can impact both homebuyers and homeowners. S...
BCREA Commercial Leading Indicator (CLI) Declined
Posted on Mar 02, 2023 in Market Update
CLI Falls in Fourth Quarter 2022In the fourth quarter of 2022, the BCREA Commercial Leading Indicator (CLI) dropped to 148 from 149, and the six-month moving average continued its downward trajectory. Compared to the same quarter in 2021, the index was down by 2 percent.
It is important to note that the environment for commercial real estate remains...
Vancouver Real Estate Market Update - March 2023
Posted on Mar 02, 2023 in Market Update
Below-average home sales allow inventory to inch upwards
February listing data show a continued reluctance among prospective home sellers to engage in Metro Vancouver’s housing market, leading to below-average sales activity. With sales remaining well-below historical norms, the number of available homes for sale in the region has continued inching...
