Financial Post – Bank of Canada hikes interest rate to 4.75%
Canadian banks raise prime rate to 6.95% after Bank of Canada hike (Financial Post)
Risk of “sticky” inflation and high household spending led to rate-hike decision: BoC (Canadian Mortgage Trends) “More pain” for variable-rate mortgage holders as the BoC hikes rates (Canadian Mortgage Trends) BMO & CIBC hike fixed rates, and more lenders could join them as bond yields rise (Canadian Mortgage Trends) Are more interest rate hikes on the way? Here's what experts say (BNN Bloomberg) Rental market will suffer most amid Bank of Canada interest rate hike: Experts (BNN Bloomberg) May’s “Influx” Of Home Sellers Not Enough To Quell Demand, Bring Down Prices (Storeys) Total Value Of Building Permits Falls To Lowest Level Since December 2020 (Storeys) Financial Post - Most Canadians waiting for mortgage rates to drop to re-enter housing market: poll The housing market may be hearing up again, but most Canadians are still waiting on the sidelines for mortgage rates to drop, with some giving up on the idea of buying a home entirely, a recent poll by BMO suggests. Concerns about interest rates, inflation and a possible economic recession have affected Canadians’ approaches to home buying, according to the report. Realtor.ca - Canadian Housing Market Trends in the First Quarter of 2023 Financial Post - Why thousands upon thousands of Canadian businesses may be about to close for good Storeys - 45% of mortgage holders, 54% of renters struggling with monthly housing payments Financial Post – 'A ticking time-bomb': The rise of the variable-rate, fixed-payment mortgage Real Estate Magazine – Majority of Canadians inclined to extend stay in current homes: CIBC poll Interest hikes making home ownership more difficult for 1st-time buyers (CBC News British Columbia) Should you take advantage of the First Home Savings Account? (CTV News) Canadian housing affordability ‘likely past the point of no return’: RBC analyst (Globe and Mail) Globe and Mail – Modular housing gains traction as Canada’s immigration numbers soar This is what $1 million can buy you in Canada's housing market (BNN Bloomberg) Canada's housing market not showing impact of higher interest rates: Report (BNN Bloomberg) Half of big companies plan to cut office space in next 3 years (Financial Post) Prices and low inventory holding back sellers (Globe and Mail) How to prepare for buying a home other than qualifying for a mortgage (Globe and Mail) Financial Post - Most Canadians waiting for mortgage rates to drop to re-enter housing market: poll CBC News – As climate changes, insurance is becoming more complex — and pricey Financial Post – More borrowers struggle as IMF warns Canada at highest risk of mortgage defaults National Post – WILKES: Preparation, communication are keys to living with a renovation Globe and Mail – Don’t let closing fees catch you off guard when buying a home Housing Supply Act Regulations Reveal BC Gov’s Metrics, Full 47-City List (Storeys) Canada's housing market sees largest improvement in affordability in four years: National Bank (CTV News) Here's where you can still find homes for under $200,000 in Canada (Yahoo Finance Canada) Real Estate Magazine – Why it’s important to have a home inspected before starting renovations Financial Post - The Bank of Canada just 'stomped' on the housing market rebound Real Estate Magazine – Sellers emerge, but demand-supply imbalance persists across Canada Globe and Mail – Prices and low inventory holding back sellers Fast Company – How backyard ‘granny flats’ could help solve the housing crisis Fast Company – The world’s first zero-emission cruise ship will have sails covered in solar panels With mortgage rates back on the rise, two-thirds of Canadians plan to delay their home purchase (Canadian Mortgage Trends) Unemployment rate ticks up to 5.2%: StatCan (BNN Bloomberg) Interest rates are likely to stay higher for longer, says Bank of Canada deputy Paul Beaudry (Financial Post) Victoria Times Colonist – Langford councillors want city to look at options for public access to Bear Mountain trails CTV Vancouver – How could a Bank of Canada rate hike impact B.C.’s housing market? Times Colonist - Victoria bylaw, police clear Topaz Park encampment Times Colonist - The 31st Annual Georgie Awards Gala recently fêted B.C. builders, renovators and interior designers Prices for Okanagan real estate continue to fall while supply increases (Global News) Times Colonist - Eby praises Victoria, Langford housing efforts, 'models for other cities' Times Colonist - Saanich council breaks with staff, sends Gordon Head housing project to hearing Victoria Times Colonist – Missing affordability? The promise and pitfalls of densifying single-family lots Victoria Times Colonist – Saanich council resurrects Cadboro Bay subdivision on Queenswood Drive CBC B.C. – B.C. wildfire season already setting records as more hot weather on horizon Victoria Times Colonist – View Royal mayor calls for six-month pause on new development Business in Vancouver – Victoria deemed most walkable city outside U.S. Vancouver Sun – B.C. buyer fails to win damages after apartment sold with silverfish Vancouver Sun – Big hike in your property tax bill? Here are eight things to know about deferring payment Victoria Times Colonist – Saanich greenlights townhouses to replace two single-family homes near Shelbourne Times Colonist - Nanaimo foot passenger ferries to begin service in August Times Colonist - A bookshelf hides this secret cocktail bar in downtown Victoria | 
