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Posted by: Adriaan Driessen
Industry & Market Highlights The Benchmark Qualifying Rate Dropped from 5.04% to 4.94% Announcement on Monday, May 25th from the Bank of Canada that the Benchmark rate dropped from 5.04% to 4.94%. This means that the average household income purchasing power has increased slightly and that you may qualify for on average $3k to $7k more […]
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Industry & Market Highlights How you are doing after 7 weeks or social distancing and quarantine restrictions due to the COVID-19 pandemic health crisis and the economic crisis? We will continue to stay positive and take this one day at a time though we are all experiencing some devastating lows. There are signs of […]
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Industry & Market Highlights Home prices have some support despite sales slowdown – RBC Economics The national market can still provide some impetus for home price growth despite declining sales, according to Royal Bank of Canada Senior Economist Robert Hogue. “Prices are determined by both demand and supply. What we saw in March is that […]
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Industry & Market Highlights Residential Market Commentary – What we know, What we can hope for We have been receiving a lot of unsettling economic data lately. Coming out of February, unemployment stood at 5.6% and nearly 250,000 jobs had been created in the previous 12 months. By the end of March, nearly a million […]
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Industry & Market Highlights Update on Ontario Essential Businesses The Government of Ontario announced it is reducing the list of businesses classified as essential and ordering more workplaces to close, to prevent the spread of COVID-19. The updated list of essential businesses does include real estate agent services, which the Government has grouped under Financial […]
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That is the question. With so many people being temporarily laid off due to the COVID-19 Pandemic that also triggered an economic crisis, many Canadians are finding themselves in a financial pinch to keep up with expenses and fixed liabilities like mortgage payments, loan payments and credit payments.The Majority of lenders and banks are offering […]
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Industry & Market Highlights Bank of Canada enacts another overnight rate cut For the third time this month, the Bank of Canada cut to the overnight rate, this time slashing off 50 basis points to a new level of .025%. The Bank Rate is correspondingly 0.50% and the deposit rate is .025% percent. In a […]
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Industry & Market Highlights Trudeau announces new emergency programme for workers who lost work from COVID-19 Prime Minister Justin Trudeau has announced the federal government is launching the Canada Emergency Response Benefit, a new programme that will provide $2,000 a month for four months to individuals who lost their work as a result of the […]
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Many current and future homeowners, are feeling concerned about the real estate market due to the health crisis and financial crisis that is slowly developing. Real estate is impacted by market volatility and financial liquidity/solvency concerns. Real estate is a commodity, and property values fluctuate as the market changes due to many influences that […]
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Many people, including myself, are feeling concerned about the health crisis and financial crisis that is slowly developing in front of our own eyes. We are experiencing a time of uncertainty, unknown territory, economic & market volatility and financial liquidity/solvency concerns. This is why I decided to put together a Canadian HomeOwners Guide to […]
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