The BoC slashed the overnight rate by 50 bps this morning, bringing the policy rate down to 3.25%. The market had priced in nearly 90% odds of a 50 bp move, where consensus coalesced. The combined slower-than-expected GDP growth and a sharp rise in the Canadian unemployment rate to 6.8% triggered the Bank's second consecutive jumbo rate cut. Today's move will take the prime rate down 50 bps to 5.45% effective tomorrow, reducing floating rate mortgage loan rates by a half point, easing the cost of borrowing and reducing the monthly payment increase for renewals. This should spark housing activity, which accelerated in October and November.  

The policy rate is now at the top of the estimated neutral rate range, 2.25% to 3.25%, with more moderate rate cuts…

241 Views, 0 Comments

Read Full Post

West Vancouver is renowned for its breathtaking landscapes, luxurious homes, and serene living environment. Whether you are a first-time buyer, seasoned investor, or looking for your dream family home, West Vancouver offers an unparalleled real estate market. At Vancouver Home Search, we pride ourselves on matching you with the perfect property that fits your lifestyle and budget. Let’s explore what makes West Vancouver a prime location and how you can seize the best deals on houses for sale in this stunning community.

Why Choose West Vancouver for Your Next Home?


West Vancouver isn’t just a place to live; it’s a lifestyle. This beautiful coastal city is nestled between the Pacific Ocean and the North Shore Mountains, offering scenic views, fresh…

2956 Views, 0 Comments

Read Full Post

West Vancouver is a dream location for many homebuyers, boasting stunning landscapes, top-tier schools, and a vibrant community. However, navigating the home-buying process in this highly desirable area requires careful planning and informed decisions. If you’re looking to buy a house in West Vancouver, avoiding these common mistakes can save you time, money, and unnecessary stress.

1. Overlooking Financial Preparation

Buying a house is one of the most significant investments you'll ever make. Without proper financial preparation, you may face unexpected challenges, especially in a competitive market like West Vancouver.

Skipping Pre-Approval for a Mortgage

One of the most common mistakes is shopping for a house without knowing how much…

3687 Views, 0 Comments

Read Full Post

Public Sector Leads Job Growth in November, Adding 45,000 New Positions

Before the release of today's Canadian Labour Force Data, the odds favoured a 25 basis point drop in the overnight policy rate when the Bank of Canada meets again on December 11th. The data showed more substantial than expected job creation, as the country added 51,000 net new positions in November compared to the expected rise of 25,000. However, nearly 90% of the job growth was in the public sector, dampening enthusiasm.

Public sector employment rose by 45,000 (+1.0%) in November and accounted for the majority of the overall employment gain in the month. The number of private sector employees and the number of self-employed people were both little changed in November.

The…

236 Views, 0 Comments

Read Full Post

There is an unprecedented disparity between the economic and financial situation in the US and Canada. The Canadian economy is far more interest-sensitive than the US and, therefore, slowed more dramatically in response to the Bank of Canada’s restrictive policy to bring inflation back to its 2% target level.

Job Market and Wage Inflation

The jobless rate in Canada has reached 6.5%, well above the level in the US, and job vacancy rates have plummeted. Wage inflation has been sticky at 4.9% but will likely edge downward in response to excess supply in the labour market.

Inflation Trends and Monetary Policy

Inflation accelerated to 2% y/y in October, compared to the cycle-low 1.6% in September, mainly because gasoline price deflation…

303 Views, 0 Comments

Read Full Post

As the new year approaches, it's a natural time to reflect on our personal goals and set resolutions for the months ahead. Your home and finances are key areas where small, intentional changes can lead to big improvements in security, stability, and quality of life.

Create a Realistic Home Budget

A well-planned budget is essential for financial peace of mind. Whether you're new to budgeting or want to refine your approach, creating a realistic budget helps prioritize spending, track bills, and put money toward meaningful goals.

  • Identify Fixed and Variable Expenses: List out fixed costs, like mortgage payments, utilities, and insurance, as well as variable ones, such as groceries and entertainment.
  • Set Savings Goals: Include savings as a…

179 Views, 0 Comments

Read Full Post

Fraser Valley Home Sales Returning to Seasonal Norms in November After October Surge

SURREY, BC – Following a healthy boost in sales in October, Fraser Valley home sales dropped in November as slower seasonal buying trends set in amid balanced market conditions.

The Fraser Valley Real Estate Board recorded 1,136 sales in November, down 15 per cent from October, but 28 per cent above November 2023 sales.

“Buying and selling activity is typically quiet at this time of year,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “But it’s worth noting that November 2024 sales are higher than they’ve been compared to the past two November — a sign that overall activity is picking up in the Fraser Valley and with it, growing buyer…

517 Views, 0 Comments

Read Full Post

Home Buyer Demand Continues to Strengthen in November

VANCOUVER, BC – December 3, 2024

Home sales registered in the MLS® in the Metro Vancouver market rose 28 percent year-over-year in November, building on the momentum of the 30 percent year-over-year increase seen in October.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totaled 2,181 in November 2024, a 28.1 per cent increase from the 1,702 sales recorded in November 2023. This was 12.8 per cent below the 10-year seasonal average (2,500).

“When we saw demand pick up in October, there was still a question over whether it was a blip in the data or the start of an emerging trend,” said Andrew Lis, GVR’s director of economics and data analytics. “While…

534 Views, 0 Comments

Read Full Post

Vancouver is often celebrated for its stunning landscapes, vibrant communities, and outdoor lifestyle. But is it equally friendly to our furry friends? If you’re a pet owner or thinking about getting a pet, this guide explores why Vancouver is a haven for pets and their humans.

Why Vancouver Is a Haven for Pet Owners

Vancouver’s pet-friendly vibe is reflected in its abundance of green spaces, welcoming policies, and community-minded culture. Let’s dive into the various ways this city makes life enjoyable for pets and their owners.

Parks and Green Spaces

Off-Leash Dog Parks

Vancouver is packed with off-leash dog parks where your pets can roam free. Top spots include Charleson Park and Fraser River Park, offering ample space and even…

337 Views, 0 Comments

Read Full Post

In the heart of Vancouver lies the iconic West End, a vibrant community celebrated for its eclectic charm, lush greenery, and proximity to both the bustling city center and serene waterfronts. If you’re considering a move or investment here, you’ve probably stumbled across MLS West End Vancouver listings. These properties range from cozy apartments to luxurious condominiums, showcasing the neighborhood’s diversity and appeal. But as 2024 unfolds, many prospective residents face a common dilemma: should they rent or buy in this coveted locale?

This guide delves into the pros and cons of both renting and buying, providing insights tailored to Vancouver’s unique real estate landscape.

The Case for Renting in the West End

Renting in the West End…

1760 Views, 0 Comments

Read Full Post