Tony’s Latest Update – May 29, 2014

May 29, 2014 under Tony's Latest Updates
Time To Consider A Changed to Fixed Mortgage rates are closing in on record lows and it may be a good time for a Fixed Term rate.  Mortgage rates have been easing since the beginning of the year and fixed rates are down 20% from a year ago.  Although inflation is muted in most major economies, there are new signs that may indicate a new trend of higher interest rates. It is now time to be very cautious.  Home pr
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Highrises proposed for Lower Capilano

May 29, 2014 under Useful Articles
Jeremy Shepherd / North Shore News May 28, 2014 12:00 AM An artist’s rendering of towers proposed for Capilano Road and Marine Drive. The District of North Vancouver is considering a gateway development in Lower Capilano after an application for two highrise residential towers past first reading Monday. Pacific Gate Investments has applied to build a 23-and a 19-storey tower, housing between 262 and 280 unit
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Monthly cost of Metro Vancouver home eats up 82 per cent of typical income RBC report says single-family houses are increasingly unaffordable

May 28, 2014 under Useful Articles
                                The value of Metro Vancouver two-storey house rose five per cent to $869,300 in the first quarter, pushing its index score up 1.6 percentage points to 86.5 per cent. Photograph by: Gerry Kahrmann , Vancouver Sun BY DERRICK PENNER, VANCOUVER SUN A rebound in Metro Vancouver prices in the first quarte
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Home affordability expected to get even tougher, Royal Bank report says

May 27, 2014 under Useful Articles
              An RBC report says house prices in Canada will continue to rise, particularly in hot markets such as Vancouver, Calgary and Toronto. Photograph by: (GREGORY BULL.The Associated Press) Bull , Postmedia News. BY JULIAN BELTRAME, THE CANADIAN PRESS OTTAWA — It’s becoming increasingly difficult for families to own a home in Canada and affordability is expected to g
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Don Cayo: B.C.’s Property Transfer Tax could be made less harmful Burden can be a budget-buster for home buyers

May 25, 2014 under Useful Articles
                                  B.C.’s Property Transfer Tax hammers buyers at the very time they can least afford it, when they are scraping together money to buy a home. Photograph by: Gerry Kahrmann , Vancouver Sun BY DON CAYO, VANCOUVER SUN | May 23,2014   The best way to deal with B.C.’s socially and economically
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Housing Trends

May 15, 2014 under Tony's Latest Updates
It may not be a ‘sellers’ market quite yet, however; recently it’s been getting close. The benchmark home price across the Vancouver region is up nearly 4% from April 2013. Even stronger was sales volumes which were 16% greater than last year. These numbers are expected to strengthen over the next few months as mortgage rates continue to move into record low territory. To get your copy of the most recent ‘H
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Private insurers won’t follow CMHC’s lead

May 7, 2014 under Useful Articles
by Justin da Rosa | 05 May 2014 Phew! Genworth Canada and Canada Guaranty have decided not to follow in CMHC’s footsteps and change their programs for self-employed buyers. But is this only a temporary move? “Upon review of the current Business for Self Program we will not be making any amendments to current product guidelines,” a Genworth letter to lenders sent Friday reads. “There will be no amendment
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Vancouver home sales approach sellers’ market

May 7, 2014 under Useful Articles
By Glen Korstrom | Fri May 2, 2014 12:11pm PST Strong home sales in April across Metro Vancouver have kept prices relatively flat but pushed the region closer to being in a sellers’ market than at any time since mid-2011. That is because the number of new listings could not keep up with the strong sales, according to data that the Real Estate Board of Greater Vancouver (REBGV) released May 2. The benchm
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