Tony’s Latest Updates – February 26,2015

February 26, 2015 under Tony's Latest Updates
The Federal Reserve in the US met this week and has set the stage to begin increasing interest rates later this year. This does not mean that rates in Canada will follow the same course, however; it’s a warning shot that we should not be complacent and expect rates to remain low forever. This is especially important here in the BC given the cost of our local real estate which continues to defy gravity. RecentlyDo
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Realtors take long-term view, see real estate as ‘strong investment’

February 24, 2015 under Useful Articles
MARIO TONEGUZZI, CALGARY HERALD More from Mario Toneguzzi, Calgary Herald Published on: February 23, 2015Last Updated: February 24, 2015 10:49 AM MST
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Vaughn Palmer: Property transfer tax brings in close to $1 billion per year Despite Premier Christy Clark’s talk of phasing it out, this long-standing cash cow is unlikely to go

February 20, 2015 under Useful Articles
BY VAUGHN PALMER, VANCOUVER SUN FEBRUARY 19, 2015. Former premier Bill Vander Zalm, pictured here in 2011, introduced what we know now as the property transfer tax back in 1987 “in an effort to get a piece of the action from a soaring real estate market,” writes Vaughn Palmer. Photograph by: Jason Payne , PNG VICTORIA — Not often does a new cash cow get herded onto the floor of the legislature, but that wa
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Another negative aspect of collateral charge mortgages

February 18, 2015 under Useful Articles
by Justin da Rosa | 12 Feb 2015 As if collateral charge mortgages needed another knock against them, one broker is having trouble refinancing those clients who find themselves in an uninsured collateral charge product. “I’m seeing a lot of collateral charge uninsured mortgages that we can’t transfer or the new lenders are unwilling to transfer,” Marc Crossman of Dominion Lending Centres Mortgage Mentors tol
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How central banks have lost control of the world

February 18, 2015 under Useful Articles
By Mehreen Khan 9:00AM GMT 17 Feb 2015 The world’s oldest central bank has ventured into uncharted territory. Last week, Sweden’s Riksbank slashed its main policy rate into negative territory. In doing so, it became the 14th central bank to ease monetary policy so far this year, but the first to actually take its “repo rate” below zero to -0.1pc. This means Sweden is actually char
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Another negative aspect of collateral charge mortgages

February 13, 2015 under Useful Articles
by Justin da Rosa | 12 Feb 2015 As if collateral charge mortgages needed another knock against them, one broker is having trouble refinancing those clients who find themselves in an uninsured collateral charge product. “I’m seeing a lot of collateral charge uninsured mortgages that we can’t transfer or the new lenders are unwilling to transfer,” Marc Crossman of Dominion Lending Centres Mortgage Mentor
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Tony’s Latest Updates – February 13,2015

February 12, 2015 under Tony's Latest Updates
The year is off to an active start for our local real estate. Sales in greater Vancouver increased almost 9% from a year earlier while listings declined over 11%.  This of course will put added pressure on prices and affordability.  The trend is not expected to change given the direction of mortgage rates.  Fixed term bond yields have risen modestly from their record lows; however remain highly attractive.  The
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TransLink tax: North Shore’s mayors take sides Yes and No camps ramp up debate

February 9, 2015 under Useful Articles
Jane Seyd / North Shore News February 6, 2015 09:34 AM Forget the old $64,000 question. This spring, it’s the $2.5-billion question that will be occupying Lower Mainland voters. That’s the amount mayors across Metro Vancouver are hoping to raise over the next decade with a new tax to help fund what they describe as crucial expansions of the transportation system. But first, voters must decide if the new half a
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Western provinces have highest average mortgage debt

February 4, 2015 under Useful Articles
Homeowners in BC and Alberta have the highest average mortgage debt according to StatsCan data. The most recently available figures, from 2012, show that BC households had an average of $241,800 in mortgage debt while Albertans are second on $205,200. Ontario’s figure was $173,000 while the lowest was New Brunswick at $83,000. Read the full story.
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