One of the main factors that Canadian Mortgages take their cues from is the U.S. monetary policy. This in one of the reasons why the Fed rate cut would not be helpful to borrowers. Fed decisions usually move the rates in some respect; however, few questions remain.
Read MoreOn Wednesday, The Bank of Canada kept its key interest rate unchanged as it downgraded it 2019 growth forecast based on its prediction the economy nearly ground to a halt at the start of the year. The central bank also appeared to be in no hurry to move the interest rate any time soon because, unlike its recent statements, the latest announcement made no mention of a need for future increases.
Read MoreThe federal government’s new mortgage stress test was responsible for a drop of approximately $15-billion in residential mortgage borrowing last year according to a report released recently. The rule change in 2018 was the biggest factor in the 8% drop in new mortgage originations in Canada.
Read MoreWhether you are a first time home buyer looking for a mortgage or are looking to refinance/renew your current mortgages, here are some tips which can help you better understand the mortgage process and perhaps help you save money!
Read MoreRead more about the housing market on Vancouver Island and the effect the new mortgage stress tests have had on property prices. sales and inventory.
Read MoreRead about the latest news, predictions and stats regarding the BC Housing Market. Learn more about trends in the Resale Market, employment and interest rates!
Read MoreThe ever-changing landscape of the real estate industry makes it difficult to predict the future trend of the market. With fall 2018 coming in fast, we at Oceanvale would like to give you a brief idea on how the real estate market in Nanaimo looks like. Here’s what the market looks like so far..
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