Nate McAvoy - Mortgage Broker, Xeva Mortgages

06/01/2022

The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at 1¾% and the deposit rate at 1½%.

05/25/2021

Starting June 1, both insured and uninsured mortgage borrowers will be subject to a stricter stress test when qualifying for their mortgage.

03/31/2021

Fixed interest rates may be going up, but variable rates are a different story

03/12/2021

Almost 11,000 homes changed hands last month, up 89 per cent from the same time last year and over 1,000 sales higher than the previous February record set in 2016.

The average MLS residential price in B.C. was just under $890,000, the association said, 17 per cent higher than February of last year.

03/11/2021

The Bank of Canada delivered welcome news for variable-rate mortgage holders today when it stood by its expectation of no rate hikes until early 2023. “We remain committed to holding the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2 percent inflat...

03/09/2021

Benjamin Tal, deputy chief economist at CIBC, joins BNN Bloomberg to discuss the mispricing in markets at the moment. He argues the fed will move earlier than 2023 and that the market thinking the Bank of Canada acting before the fed does not make sense. He also says inflation will become true if th...

03/03/2021

Canadian mortgage rates are beginning to inch higher for the first time since before the COVID-19 crisis, but with home loans still languishing around historically low levels the modest hike is unlikely to slow the red-hot housing market.

02/26/2021

“As mortgage rates fell to historically low levels and the competition for entry-level housing lessened, young people saw a window of opportunity and went for it"

As mortgage rates "fell to historically low levels", Canadian millennials saw "a window of opportunity and went for it", expert says.

02/23/2021

Fixed Rates start to move upwards on increased optimism of economic recovery.

Canadian bond yields hit their highest level since April in recent days, and a number of lenders have responded by starting to raise some of their mortgage rates. CMLS, MCAP and First National were among the non-bank lenders to increase at least some of their rates, with their broker rates rising 10...

02/18/2021

"StatsCan said the surge in borrowing was powered by a combination of historically low borrowing costs and resilient demand for housing."

StatsCan says low borrowing costs helped drive last year's increase

02/12/2021

January sales increased 63.3% over January 2020 and over 1,000 sales higher than the previous record for the month of January. On top of that the average price in B.C. was $845,169, a 16.1% increase from $728,269 recorded in January 2020.

Demand is outstripping supply, however, with the BCREA reporting listings down 21.5 per cent in January, the lowest on record.

01/25/2021

Canadians Love home ownership! "...we pay more for housing because we’re willing to ― because it’s worth it for us."

The Canadian economy’s addiction to real estate has hit a new high.