News – McMillan Dubo Law Group
The initial forecast had predicted economic growth of about two per cent for the year, but with the rapid spread of COVID-19 the Council is now forecasting growth of around 1.4% - 1.5% under an optimistic scenario, and growth of under one per cent or even the possibility of a recession should the spread of the virus accelerate.
January 2021 Real Estate Update – McMillan Dubo Law Group
Apr 21, 2021 · SUMMARY Job losses in January far exceeded the predictions, with Canada’s economy shedding 213,000 jobs. Most of the jobs lost, however, were part time positions in sectors hardest hit by pandemic-related restrictions, indicating that they may be relatively quick to return when restrictions are lifted. Despite job losses, Canada’s real estate market remains …
June 2018 Real Estate Update – McMillan Dubo Law Group
Jul 11, 2018 · Declining sales was the trend across all major markets in the BC real estate sector to start the summer. The Fraser Valley was impacted the most in June as the region saw a decrease of 43.5% in sales when compared to June of 2017. Kamloops felt the smallest impact with sales declining 11.4% over the same period.
August 2018 Real Estate Update – McMillan Dubo Law Group
Sep 10, 2018 · The other major markets in the province had similar trends with the Fraser Valley being hit the hardest with a 38.5% decrease in sales compared to August 2017. Vancouver, the Fraser Valley and the Central Okanagan all saw significant increases in active listings compared to August 2017.
March 2019 Real Estate Update – McMillan Dubo Law Group
Apr 16, 2019 · According to the economics division of the BC Real Estate Association, due to low government bond yields, the five-year qualifying fixed mortgage rate is expected to fall from 5.34% in the first quarter of 2019, to 4.99% in the second quarter, and further drop to 4.484% in the third quarter.
October 2018 Real Estate Update – McMillan Dubo Law Group
According to the regulator, the amount of uninsured mortgage originations with loan amounts greater than 4.5 times the borrower’s income has dropped from 20 per cent from April to July of 2017 to 14 per cent for the same period of 2018.
February 2018 Real Estate Update – McMillan Dubo Law Group
Mar 10, 2018 · Almost all major markets in British Columbia saw sales fall in February as compared to February 2017. The Victoria market was the hardest hit, seeing sales fall year-over-year by almost 20% for the month. Rising interest rates and government policy decisions are the likely culprits for the cooling of the market, though the Bank of
January 2019 Real Estate Update – McMillan Dubo Law Group
Feb 12, 2019 · The Greater Vancouver housing market continues to see 10 year lows in sales due to increased municipal and provincial regulation, as well as more stringent mortgage stress tests and rising interest rates. This downturn is contributing to the Bank of Canada prediction for negative growth for residential real estate investment in Canada in 2019. On
January 2018 Real Estate Update – McMillan Dubo Law Group
Feb 13, 2018 · Speculation continues that the increases to interest rates and changes to the mortgage rules will result in relief from the booming real estate market. However, for another month, prices rose, and sales increased across almost all major markets in the province. The changes to the mortgage rules have resulted in almost 20% more mortgages being
December 2018 Real Estate Update – McMillan Dubo Law Group
Earlier in the week, the latest federal figures showed consumer insolvencies filed under the Bankruptcy and Insolvency Act rose 5.1 per cent in November compared to 12 months earlier. Insolvency numbers are made up of both bankruptcies and proposals.