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Market Updates

During the process of buying or selling a home, countless questions are bound to surface regardless of how "seasoned" you are in Real Estate.  Some questions are easily answered, however others may require a bit of research and study.   I understand how difficult it can be to sift through the mountain of information out there in order to find answers that are relevant and meaningful to you.  

As a firm believer in "knowledge is power," I do my best to educate and inform my Buyers and Sellers about the current market conditions and the process involved once you have made the decision to move.     

If you would like to receive regular Market Updates or newsletters please contact me at dodi.t@shaw.ca or call me at 604-644-3634

Latest News

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In keeping with my commitment to keep you informed on news that influences decisions to buy or sell real estate, I'm sharing this article from the Canadian Real Estate Association on Interest rates.

Regards Dodi.

 

Thursday, April 17, 2014 - 14:50

The Bank of Canada announced on April 16th, 2014 that it was keeping its trend-setting overnight lending rate at 1 per cent, where it has been parked since September 2010. The Bank also published its latest quarterly Monetary Policy Report and updated its economic growth and inflation forecasts.

The Bank’s global economic growth outlook remains upbeat despite softer readings in recent months that it attributes to “unusual weather” in the United States earlier in 2014. The Bank still expects that investment and exports will outshine consumer spending as the main driver of Canadian economic growth as the United States economic recovery gains momentum.

While the Bank raised its inflation forecast, it expects the increase to be temporary and made it clear that it would not react by raising rates sooner than previously anticipated.

The Bank identified a weaker than expected upturn in exports as being the most significant domestic risk to its inflation outlook. It also repeated its concerns about Canadian household indebtedness while indicating that a soft landing in the Canadian housing market and a stabilization of debt-to-income ratios continue to unfold in line with its expectations.

On balance, the Bank is of the view that interest rates should remain where they are and it will continue to monitor economic and inflation data closely to determine the direction of future policies. Canadian private sector forecasters widely believe that the Bank of Canada will not begin raising the overnight lending rate until well into 2015.

As of April 16th, 2014, the advertised five-year lending rate stood at 4.99 per cent, down from 5.24 per cent at the previous Bank rate announcement on March 5th, 2014.

The next interest rate announcement will be on June 4th, 2014. The next update to the Monetary Policy Report will be on July 16th, 2014.

(CREA 4/16/2014)

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dodi.t@shaw.ca

RE/MAX Dodi Thorhaug Realty
#101-2609 Westview Drive North Vancouver, BC V7N 4M2 Canada

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