Hafez Realty News

Mortgage Rate Outlook
The Canadian mortgage market is undergoing significant tightening with the availability of credit falling and interest rates rising. The mortgage stress test introduced in January negatively impacted home sales nationwide as prospective homebuyers with more than 20 per cent down payments were denied access to loans they would have qualified for under the old regulatory regime....

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The British Columbia Real Estate Association (BCREA) reports that a total of 6,743 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in August, a 26.4 per cent decrease from the same month last year.


The average MLS® residential price in BC was $669,776, down 1.2 per cent from August 2017.Total sales dollar volume was $4.5 billion, a 27.3 per...

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The trend in housing starts was 214,598 units in August 2018, compared to 219,656 units in July 2018, according to Canada Mortgage and Housing Corporaton (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.


"The natonal trend in housing starts contnued to decline in August from the historical peak that was recorded...

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The Bank of Canada's decision to leave its interest rate unchanged Wednesday could be just a brief pause that comes as it carefully follows the unpredictable twists in the country's trade talks with the United States.


The central bank kept its benchmark at 1.5 per cent, but many experts predict another increase could arrive as early as next month.


In a statement Wednesday, the Bank of Canada said more...

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The Metro Vancouver* housing market continues to experience reduced demand across all housing types.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,929 in August 2018, a 36.6 per cent decrease from the 3,043 sales recorded in August 2017, and a 6.8 per cent decline compared to July 2018 when 2,070 homes sold.


Last month’s sales were...

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Hafez Panju
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