Bayside Mortgage Solutions- Southern Vancouver Island

09/25/2023

Housing Market update !

09/19/2023

The number of newly listed homes edged up 0.8% m/m in August, adding to the cumulative gain of more than 24% between March and July.

Home Sales Dipped Once Again Last Month In The Wake of Two Consecutive BoC Rate Hikes Not surprisingly, buyers moved to the sidelines last month as the central bank took the overnight policy rate up to 5.0%. Home sales posted a 4.1% decline between July and August, well below the 10-year moving aver...

09/06/2023

With last Friday’s publication of the anemic second-quarter GDP data, it was obvious that the Bank of Canada would refrain from raising rates at today’s meeting. Economic activity declined by 0.2% in Q2; the first quarter growth estimate decreased from 3.1% to 2.6%.

Bank of Canada Holds Rates Steady Acknowledging Economic Slowdown With last Friday’s publication of the anemic second-quarter GDP data, it was obvious that the Bank of Canada would refrain from raising rates at today’s meeting. Economic activity declined by 0.2% in Q2; the first quarter growth e...

09/01/2023

The Canadian economy weakened surprisingly more in the second quarter than the market and the Bank of Canada expected!

Rate Hikes Are Definitely Off The Table The Canadian economy weakened surprisingly more in the second quarter than the market and the Bank of Canada expected. Real GDP edged downward by a 0.2% annual rate in Q2. The consensus was looking for a 1.2% rise. The modest decline followed a downwardly revi...

08/18/2023

Have a wonderful adventures weekend Facebook Friends!

07/13/2023

The Bank of Canada increased the overnight policy rate by 25 basis points this morning to 5.0%, its highest level since March 2001. Never before has a policy action been so widely expected.

Interest Rates Will Stay Higher For Longer The Bank of Canada increased the overnight policy rate by 25 basis points this morning to 5.0%, its highest level since March 2001. Never before has a policy action been so widely expected. Still, the Bank’s detailed outlook in the July Monetary Policy Re...

06/19/2023

Sales were up in about 70% of all local markets, including Canada’s largest markets: the Greater Toronto Area (GTA), Montreal, Greater Vancouver, Calgary, Edmonton, and Ottawa.

Strong May Housing Triggered BoC Rate Hike The Canadian Real Estate Association says home sales in May rose 5.1% month-over-month (m/m), adding to the 11.1% gain in April. This brought the year-over-year sales gain to 1.4%, The first y/y sales increase in almost two years. While spring home sales st...

04/27/2023

Dear clients,

How would like to have the power of updating your current position, look at multiple offers from Canada's leading lenders and make informed decisions on your next property financing options?

We have improved our process to allow you real time access to your pre-approval where you can adjust your purchase price and expenses while you are out house shopping to ensure that you will qualify!

*Below is just an example using sample rates.

Call us now and get pre-approved!

04/25/2023

Weakening Housing Markets Pose A Risk For The Canadian Economy

Weakening Housing Markets Pose A Risk For The Canadian Economy On April 18, Canada’s national banking regulator, the Office of the Superintendent of Financial Institutions (OSFI), released its second Annual Risk Outlook (ARO), outlining what it believes are the most significant headwinds facing th...

04/13/2023

The Bank of Canada leaves rates unchanged!

04/06/2023

Have a wonderful Easter Weekend!
“Family and friendships are two of the greatest facilitators of happiness.”

03/22/2023

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