604homesblog

Last time the Bank of Canada (BOC) was expected to drop the overnight interest rate they did not. This time they were expected to leave it where it was at, and they did. Siting Three major developments are affecting the Canadian economy: the protracted weakness in the U.S. economy; ongoing turbulence in global financial markets; and sharp ...

I was pretty busy last week and didn't get the posts out about the big news that the 40 year mortgages and 0% down option will be eliminated on October 15th, 2008. I don't have too much to add to the discou rse on this. I have not worked with many buyers using either of these options. I am sure it will keep some  buyers out of the ...

No time to write much about it (I'll update this later), but realtor.ca is now live. Go check it out!   Matthew Collinge: Vancouver REALTOR®

No time for any commentary on this today, but I thought you'd be interested. Everything below is from RBC Economics' monthly Economics Digest. You can comment below. ------ Housing market froth finally evaporating After yet another blockbuster year for Canada’s housing markets in 2007, the much-anticipated ...

Well, starting June 23rd, this form and ALL the info it asks for will be required by law in Canada for all real estate transactions. This is part of the Proceeds of Crime Money (Money Laundering) and Terrorist Financing Act which I am guessing was passed in reaction to 9-11. It sure asks for some detailed information. We will be asking for your ...

Straight from my Daily Economic Update from RBC (I wish they would quote the source of the stats. Maybe it is RBC itself.): The new housing price index was flat in April with the annual pace of increase slowing to 5.2% down from 6.1% in March. The house-only component fell 0.1% in April and the land component posted a 0.2% increase. On a ...

Many had been expecting another rate from the Bank of Canada today, but low and behold they have decided to stick with the status quo. Here is the announcment from the BoC.Bank of Canada – Prime Rate Unchanged - 4.75% Since the April Monetary Policy Report (MPR), economic developments have been broadly in line with expectations. However, the ...

As any REALTOR will tell you, this is no surprise. The real estate industry is famously old and grouchy about technology changes. The Real Estate Board of Greater Vancouver (REBGV) informed me this morning that: The public www.mls.ca  web site will officially change its name to www.REALTOR.ca  on Monday June 30th, 2008. The original ...

Quite the splashy title for the old RBC. As has been widely reported the Canadian market generally has cooled although it is cooler in some parts of the country (Calgary and Edmonton) than in others. The reports starts out talking about how the slow down of the real estate market was delayed by the  ... recent mortgage innovation that ...

In the "this is just a giant real estate ad" House Hunting section of the Vancovuer Sun today was an article (Title: Camp Report Released: Canadians have a balanced view of the real estate market) about a report that has been released by CAAMP, which is apparently the Canadian Association of Accredited Mortgage Professionals. The report, ...