Bank of Canada Holds Interest Rate Steady at 5%

Posted on Nov 07, 2023

The Bank of Canada has decided to keep its benchmark interest rate steady at 5%

The move was widely expected by economists and investors who follow the central bank, after a slew of data points in recent months — from GDP, to jobs to inflation itself — painted a picture of an economy that was slowing down. 

Eight times a year, the central bank meets...

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New Airbnb Regulations Coming to BC

Posted on Oct 23, 2023

Sweeping changes are coming to the short-term rental market across British Columbia, and it is all driven by new regulations pushed forward by the provincial government.

Premier David Eby announced a multi-faceted, phased approach to cracking down on short-term rentals to help tame the housing affordability and supply crisis.

More specifically, the n...

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Vancouver City Council Approves up to eight Homes on single-family lots

Posted on Sep 18, 2023

Gentle densification through the expanded development of multiplex residential structures will now be permitted across much of Vancouver’s single-family neighbourhoods city-wide.

During Thursday’s public hearing, Vancouver City Council unanimously approved City of Vancouver staff’s multiplex framework of “Adding Missing Middle Housing and Simplifyin...

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Bank of Canada Holds Interest Rate Steady at 5%

Posted on Sep 18, 2023

The Bank of Canada opted to hold its benchmark interest rate steady at five per cent as the economy is showing more and more signs of cooling.

The move was widely expected by economists and other financial observers, as the central bank's unprecedentedly swift campaign of rate hikes since early 2022 have made major headway on bringing down runaway i...

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Bank of Canada increases interest rate to 4.5%

Posted on Jan 25, 2023 in Real Estate News

After seven rate hikes last year, the Bank of Canada’s first interest rate update for 2023 is out. 

The Bank of Canada raised its key overnight lending rate for the eighth straight time Wednesday morning, but signalled its rate-hiking campaign could finally be over.

The central bank bumped the overnight rate up by 25 basis points — a quarter of a per...

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Canada's Foreign Buyer Ban Begins in January 2023

Posted on Dec 21, 2022

The federal government’s ban on new foreign ownership of residential property becomes law on January 1, 2023, disallowing anyone who isn’t a Canadian citizen or permanent resident from buying residential real estate for two years.

The Act restricts non-Canadians from avoiding the ban by using corporations or other entities to purchase residential pr...

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