Metro Van Mortgages

Metro Van Mortgages Full service mortgage consultant with clients across Greater Vancouver and Canada.

Following nearly a year of mostly aggressive interest rate rises from near-zero that the Bank of Canada has only recentl...
03/20/2023

Following nearly a year of mostly aggressive interest rate rises from near-zero that the Bank of Canada has only recently set on pause at 4.50%, mortgage rates have soared over 170 basis points, restricting activity in the once red-hot market.

BENGALURU (Reuters) - The drop in home prices in Canada this year will be steeper than forecast three months ago but mild compared with an historic run-up during the COVID pandemic, leaving many first-time buyers still priced out of the market, a Reuters poll showed. Following nearly a year of mostl...

“The presale market saw a wave of activity over the first quarter of 2022 as developers responded to heightened demand f...
03/17/2023

“The presale market saw a wave of activity over the first quarter of 2022 as developers responded to heightened demand from buyers wishing to lock in home purchases before rates rose,” MLA Canada said. “Many purchasers were swept up in the feeling that ‘now’ was the time to buy and, in large part from low resale supply, turned to the presale market.”

After seeing 76 presale project launches in 2022, Metro Vancouver can expect to see 95 in 2023, according to a forecast by MLA Canada, a Vancouver-based real estate services and sales firm. According to its 2023 Intel Report, MLA Canada says most of the presale launches we saw in Metro Vancouver las...

In addition to building more homes, the province is making investments to support and protect renters, revitalize BC Hou...
03/15/2023

In addition to building more homes, the province is making investments to support and protect renters, revitalize BC Housing’s aging rental stock and prevent eviction or homelessness.

The government of B.C. is investing $4.2 billion in funding, the largest three-year housing investment in provincial history, to support affordable housing, build rental supply and tackle homelessness, according to Budget 2023, released today, Feb. 28. This funding is part of a refreshed housing pla...

That interest means commercial real estate investment in Canada could reach an all-time high of $59.3 billion this year,...
03/13/2023

That interest means commercial real estate investment in Canada could reach an all-time high of $59.3 billion this year, spurred by greater merger and acquisitions activity.

The outlook for commercial real estate looks "bumpy" in the near term, but CBRE's 2023 forecast predicts a soft landing could still be in the cards. The Canada Real Estate Market Outlook report, released Tuesday, predicts challenges such as tougher financing conditions and a potential economic slowd...

The report utilizes data collected from an online survey of over 2,000 Canadians across the country, issued in December ...
03/07/2023

The report utilizes data collected from an online survey of over 2,000 Canadians across the country, issued in December 2022 and tabulated by MPC partner firm, Bond Brand Loyalty.

Canadians anxious about homebuying, unpredictable market and affordability: mortgage survey Mortgage Professionals Canada is proud to release the Housing Market Report: 2022 Year-End Consumer Survey and Outlook. The Year-End Consumer Survey and Outlook report is commissioned by MPC from Oxford Econo...

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 7,868, a 16.7 per cent incr...
03/03/2023

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 7,868, a 16.7 per cent increase compared to February 2022 (6,742) and a 5.2 per cent increase compared to January 2023 (7,478).

February listing data show a continued reluctance among prospective home sellers to engage in Metro Vancouver’s housing market, leading to below-average sales activity. With sales remaining well-below historical norms, the number of available homes for sale in the region have continued inching upw...

The economy added 150,000 jobs in January — 10 times the median estimate in a Bloomberg survey — while the unemployment ...
03/02/2023

The economy added 150,000 jobs in January — 10 times the median estimate in a Bloomberg survey — while the unemployment rate held steady at 5 per cent, near a record low, Statistics Canada reported Friday in Ottawa.

Canadian employment grew much faster than expected, pointing to a labour market that’s showing few signs of cooling in the face of aggressive increases to borrowing costs. The economy added 150,000 jobs in January — 10 times the median estimate in a Bloomberg survey — while the unemployment ra...

The Bank of Canada signalled last month it would pause further changes to its policy rate while it lets its aggressive r...
03/01/2023

The Bank of Canada signalled last month it would pause further changes to its policy rate while it lets its aggressive rate hikes from the past year take effect.

Lower interest rates in 2023 could revitalize Canada’s housing market before the end of the year, according to some economists, even as the central bank warns the rate cut conversation is premature. A report from Desjardins Economics released Thursday expects home sales in Canada to “reach a low...

The Canadian Real Estate Association foresees home sales rising by 10.2 per cent in 2024 as markets continue to return t...
02/28/2023

The Canadian Real Estate Association foresees home sales rising by 10.2 per cent in 2024 as markets continue to return to normal, while it expects the national average home price to gain 3.5 per cent from 2023 to 2024 to around $685,056, below 2022 but back on par with 2021.

A new report says Canada's housing market will see new listings fall in the first quarter before rebounding later in the year and then, slowing to a more modest growth pace in 2024. The report from Rishi Sondhi, an economist with TD Economics says subdued sales and declining prices will result in li...

The results were then compared to median income data for people living alone, which was sourced from Statistics Canada’s...
02/27/2023

The results were then compared to median income data for people living alone, which was sourced from Statistics Canada’s 2021 census.

Home prices across Canada have fallen significantly since the spring of 2022, but amid strained inventory and high interest rates, purchasing property is still no easy feat. Homeownership is a process made endlessly easier by familial support or a dual income, but it’s not completely impossible to...

Yet long-run structural labour shortages could continue to push wages higher over time, potentially contributing to infl...
02/24/2023

Yet long-run structural labour shortages could continue to push wages higher over time, potentially contributing to inflation.

Protracted labour shortages in Canada could fuel more rapid wage growth and inflation over time, potentially prompting the need for higher interest rates long-term, a new RBC Economics report released Wednesday said. Wages are growing quickly in Canada, but so far not fast enough to match inflation,...

“With inflation above six per cent, we are still a long way from the two per cent target,” Macklem said Tuesday. “But in...
02/14/2023

“With inflation above six per cent, we are still a long way from the two per cent target,” Macklem said Tuesday. “But inflation is turning the corner. Monetary policy is working.”

The Bank of Canada’s monetary policy is working as intended to tackle inflation, says Governor Tiff Macklem, as the central bank prepares to pause its campaign of aggressive interest rate hikes. Economic signs are showing that the hikes are discouraging Canadians from spending, thereby lowering de...

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