Rates Held! No rate increase Dec. 6 Category: Education and Learning, Home Purchase, Good Morning Amazing Partners, Great news! No rate increase. Although, this was suspected and expected. Bottom line: Overall inflationary risks have continued to recede in Canada after dominating the economic landscape for the past two years, and the risks are gradually becoming more equally weighted with downside growth risks (we’re expecting the economy to shrink). Currently softer trends in consumer spending and labour market data are still consistent with a “mild” economic downturn, and are expected to be extended into early 2024 alongside more easing in inflation pressures. Still, the BoC will be cautioning against rate cuts too quickly. Most economists think that rates will hold until the 2nd half of next year. However, the “market” is assuming rate cuts in the FIRST HALF of next year, making our bond market and fixed rates to decrease. This has inflationary pressure (lower rates) so the “market” may cause a longer term higher-than-expected variable rate. DLC’s Chief Economist, Dr. Sherry Cooper, will be presenting on the rate (non)change today at 11:30AM. You can watch it live here or click the image below. Continue Reading: Read Article All About Mortgage Porting Category: Education and Learning,First Time Buyer,Home Purchase, Porting a mortgage means bringing the mortgage from one property to another.This is usually done to keep a specific mortgage interest rate when the current rates are higher. Porting can only be done when a sale and a purchase (or a purchase and a sale) are completed within 30-120 days of each other (depending on lender). […] Read Article Read Article Has Zoning Been Eliminated? Category: Education and Learning,Home Purchase, Article Summary: The BC Government is going it alone and has introduced legislation to force municipalities to allow for higher density. The cost of housing isn’t *strictly* a supply and demand issue but it is heavily heavily negatively impacted by the number of units available for sale/rent (IE, yes, supply is the number one major […] Read Article