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BoC holds interest rate to 2.75% amid trade war's grip on economy

1 week ago

BoC holds interest rate to 2.75% amid trade war

For the third time in a row, the Bank of Canada (BoC) held the overnight interest rate at 2.75 per cent, a sign of economic stability for prospective homebuyers that may also disappoint developers and the construction sector.

'Akin to Lego’: Homes built in a factory may be ‘next frontier’

The latest apartment building to hit Calgary’s skyline was not built from the ground up — but on an assembly line. Built by ATCO Ltd. through a partnership with a Calgary affordable housing subsidiary, the six-storey building will have 84 units.

Builder facing receivership: ‘I haven’t given up this vision’

Hamilton-area modular home builder Ali Kerem Ozden, owner and president of BECC Construction Inc., faces a court-ordered receivership process with creditors seeking repayment of more than $17 million, but still believes the future is bright for prefabricated homes.

Vancouver real estate prices decline, still highest in country

The latest report on real estate around the country has come up with a familiar result — it’s expensive to buy in Vancouver. Century 21 looked at 50 communities around Canada which found, on a dollar-per-square-foot basis, Vancouver was number one.

Testy sellers, cautious buyers as real estate market adjusts

Patrick Perrier, director of forecasting at Bank of Nova Scotia, wonders if fatigue around all of the U.S.-Canada trade war uncertainty is setting in as he points to three straight months of improvement in housing sales across Canada.

Ont. to increase cost of 'affordable' homes in these 2 cities

In Newmarket, a home priced at $476,700 or less will now be considered affordable — an increase of $9,600 from last year. Aurora’s threshold for an affordable home will be increasing even more, from $506,000 to $517,000.

What to know about Toronto's 'renoviction' bylaw

Toronto's incoming bylaw is not meant to stop evictions for renovations altogether, but to discourage landlords from misrepresenting the need to evict tenants over extensive renovations in order to get higher-paying tenants to move in — often referred to as “renoviction.”

Young Canadians’ mortgage balances are shrinking, but why?

For many, homeownership in Canada remains unattainable due to high prices and elevated mortgage rates, so how is it possible that the average mortgage balance is on a downward trajectory for young families?

Does the return on cottage memories outweigh the ROI?

In today’s economic climate, cottages, once considered a sound investment, now raise a question: Will purchasing a cottage leave a positive financial impact or is it just an expensive luxury?

Upfront costs can be a barrier for green home features

Long-term savings are top of mind for homebuyers who are considering green features, but higher upfront costs can be a turn-off for some. Toronto Realtor Jamie Dempster says heat pumps are the green feature that offers the best value.

More and more desperate Toronto landlords offering free rent

According to Urbanation, some 65 per cent of apartment buildings in the Greater Toronto and Hamilton Area are now offering perks ranging from months of free rent to free cable packages and other gifts to sign a lease.

Zillow sued by CoStar for 'massive' copyright violations

Zillow (ZG-Q) was sued on Wednesday by Homes.com owner CoStar Group (CSGP-Q), which accused the largest U.S. online real estate portal of publishing at least 46,979 copyrighted photos without permission.

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