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

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 […]

Renewing your mortgage? Ottawa has quietly made some regulatory changes that could save you big money

Some money-saving updates to Canada’s mortgage rules could save you some loot if you’re renewing a mortgage. Here’s what changed. In October of 2016, the government banned refinances from being default insured. But regulators allowed lenders to keep insuring transfers. A “transfer” is when you switch lenders to get a better deal, but don’t increase […]

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 […]