When the COVID-19 pandemic rocked the world in 2020, the state of the Real Estate market became the talk of the town. The Coronavirus has had profound impacts on the housing market, to say the least. Since 2020 we have seen some ground-breaking records set, and also experienced the impacts of the fight against inflation. So, here’s the breakdown. 2021 – The Unicorn Year 2021 was the perfect...
Rental rates are on the rise. Interest rates are on the rise. And house prices are coming down. So what does this mean? Should you rent or is it the right time to buy? We need to look at historical averages over 25 year terms instead of just today’s market, as any savvy investor looks at investing in a long game format. There are a lot of factors which could make a mortgage or rental...
In Wednesday’s announcement, The Bank of Canada raised its benchmark interest rate by 1.00% which was a larger increase than had been anticipated. This is the largest single increase in the overnight rate that we have seen in more than 20 years. Why? During the pandemic the central bank cut the lending rate to stimulate the economy by encouraging people to borrow and invest at a low rate. It...
On Wednesday March 9th the Bank of Canada announced that it was raising its key overnight lending rate by a quarter of a percentage to 0.5%, as it attempts to fight inflation caused by the COVID-19 pandemic. Homeowners with a variable rate mortgage will immediately feel the effects of the higher rates on their monthly payments, but what does this means for the current detached real estate...
The pros and cons of the 4th wave Pros In the face of uncertainty, it’s challenging for policymakers to raise interest rates. Omicron may cause a push back on the plans to increase rates early in 2022 and money will remain cheaper for longer.With restrictions imposed on travelling and entertainment, people will have more available money sitting in the bank, hopefully increasing their saving...
2020 and 2021… unprecedented years with a unique set of circumstances that have drastically impacted almost every part our lives. The real estate market has been no exception and has seen some surprising developments for many professional forecasters. Are you wondering how this global pandemic continues to impact the housing market today? And how it will impact our future market? The housing market...