News: Vancouver Real Estate Market

The Bank of Canada announced on October 25th it would be holding its key lending rate at 5.0%, the second consecutive hold since two quarter-point increases were made over the summer. Since March of last year, the central bank has imposed an unprecedented number of rate hikes in an effort to reduce pandemic-fueled inflation, taking interest rates from historic lows to a more than two-decade high. While approximately three quarters (74%) of Canadian mortgage holders currently have a fixed-rate agreement...

Read

The Bank of Canada economic update reveals one million job losses in the month of March, which exceeded anything we've experienced. Furthermore, the losses in April are said to be far higher compared to last month. All provinces are said to slip into severe recession this year. Here are some of the important statistics you need to know:

RBC Covid-19 Economic Update

  • 20% to 25% of provincial GDP are highly impacted industries like retail trade, transportation services (including airlines), education, arts and recreation, and food...
Read