B.C. real estate market tips to balance amid new mortgage rules: association

B.C. real estate market tips to balance amid new mortgage rules: association

The British Columbia Real Estate Association says tighter mortgage rules and lower demand are bringing the provincial housing market into balance. The association says 7,884 units were sold within the Multiple Listing Service across the province in June, a 32.5 per cent decrease from the same month last year. Advertisement The average residential price was […]

BC real estate sales less than last year

BC real estate sales less than last year

The British Columbia Real Estate Association says there’s been a substantial decrease in the total number of residential unit sales in the province compared to last year. The newest numbers from the association show there were 8,837 sales this month — a 28.7 per cent decrease from the same month last year. The average sale […]

TD, RBC second-quarter profit bumped by rise rate

TD, RBC second-quarter profit bumped by rise rate

Two of Canada’s biggest banks reported second-quarter earnings Thursday that benefited from bigger profit margins on the back of rising interest rates, though the bump could be less pronounced in coming quarters as pressure mounts for banks to raise the interest rates they pay on deposits. Toronto-Dominion Bank and Royal Bank of Canada handily beat […]

TD discounts five-year variable mortgage rate as competition heats up

TD discounts five-year variable mortgage rate as competition heats up

TD Bank is joining a rival bank in offering a highly discounted variable mortgage rate as competition among Canada’s biggest lenders heats up. The Toronto-based bank said on Tuesday it’s lowering its five-year variable closed rate to 2.45 per cent, or 1.15 per cent lower than its TD Mortgage Prime rate, until May 31. TD’s […]

The housing market is tearing us apart, new poll suggests

The housing market is tearing us apart, new poll suggests

The lack of affordable housing in B.C. is creating divisions between economic classes and age groups, according to participants in a new poll commissioned by CBC. The Mustel Group survey shows that 86 per cent of respondents believe the province is now divided along economic lines, while 64 per cent think affordability issues have created […]