March Foreclosure List
  
Abbotsford attached
Abbottsford Detached
Burnaby Attached
Burnaby Detached
Langley Detached
Maple Ridge, Pitt Meadows Attached
Maple Ridge, Pitt Meadows Detached
Mission Attached
Mission Detached
North Vancouver West Vancouver Attached
North Vancouver West Vancouver Detached
Port Coquitlam, Coquitlam, Port Moody Attached
Port Coquitlam, Coquitlam, Port Moody Detached
Richmond Attached
Richmond Detached
Surrey Delta Cloverdale Detached
Surrey, North Delta, Cloverdale Attached
Tsawwassen, Ladner Attached
Tsawwassen, Ladner Detached
Vancouver East Attached
Vancouver East Detached
Vancouver West Detached
Vancouver West Attached
Bank of Canada holds key interest rate at 5% again, saying it's still too soon for rate cuts
Jenna Benchetrit · CBC News · Posted: Mar 06, 2024 6:51 AM PST
The Bank of Canada has held its key interest rate at five per cent again, saying that it's still too soon to consider rate cuts while underlying inflation persists.
Economists were widely expecting the central bank to hold the rate. The bank said in a note on its website that it was still concerned about underlying inflation, which strips out volatile items like food or fuel.
Bank of Canada governor Tiff Macklem elaborated on those concerns during a press conference following the announcement.
He said there are still global risks — like the attacks on Red Sea shipping routes, which have impacted global shipping costs — that could feed into higher inflation if they escalate.
Domestically, "we are seeing a gradual easing in underlying inflationary pressures. The risk is that stalls," he said. "We don't want inflation to get stuck, materially, about our [2 per cent inflation] target."
The central bank expects inflation to stay close to three per cent during the first half of this year before it slowly eases.
Continue reading here...
BC Government Budget Affecting Real Estate
BC Government Unveils New Housing Measures in 2024 Budget
The BC Government has recently introduced a range of new housing measures in its 2024 budget, aimed at addressing the ongoing housing crisis in British Columbia.
BC Home Flipping Tax: Starting January 1, 2025, a new tax will be implemented on the sale of residential properties within two years of purchase, targeting speculative real estate practices. This move is expected to contribute to stabilizing housing prices and increasing the availability of affordable homes. Exemptions to the home-flipping tax will be available to people who face unavoidable life changes, including death and divorce, job relocation or loss, and people who are adding to B.C.’s housing supply.
Enhanced Property Transfer Tax Exemptions: Significant improvements have been made to make home ownership more accessible. The First Time Homebuyers’ Program has been expanded, with increased thresholds allowing more buyers to benefit from tax exemptions. This includes full exemptions for homes valued up to $835,000 and partial exemptions for those up to $860,000, potentially saving buyers up to $8,000. Furthermore, buyers of newly built homes valued up to $1.1 million will enjoy reduced costs, encouraging the purchase of new properties.
|
