News from Cartocci Real Estate Group

Bank of Canada maintains overnight rate target at 1 per cent...

Posted on Apr 20, 2011

As was widely expected, the Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The global economy continues to show signs of recovery with growth evident in the USA and Europe (even with the presence of some challenging banking issues in some Eurpoean countries and some challenging sovereign debts...

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Interest Rate Outlook

Posted on Mar 24, 2011

As expected, the Bank of Canada held its overnight rate at 1 per cent at its March 1st meeting. In the absence of nascent geo-political risk and the soaring loonie, the stronger than expected pace of economic growth may have alone been enough to push the Bank to raise rates at its next meeting in April. However, the risk posed to the global economy...

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Growth & Inflation Outlook

Posted on Mar 24, 2011

Sentiment about the US economic outlook has improved dramatically in the two months since our last forecast. This is very good news for the Canadian economy and also very good timing as the economy is likely to face some headwinds in 2011 from potential consumer restraint, exchange rate pressure on exports and slowing residential construction. Howe...

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Mortgage Rate Outlook

Posted on Mar 24, 2011

Mortgage rates have thus far evolved in-line with our December 2010 forecast, with the 5-year fixed rate reaching 5.44 per cent and the 1-year rate hitting 3.50 per cent in mid–February. Mortgage spreads (the difference between a fixed mortgage rate and the yield on Government of Canada bonds) have returned to historically normal levels and we expe...

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Canada's Hot Housing Market to Cool Down

Posted on Mar 07, 2011

Canada’s hot housing market should cool down somewhat this year, according to a new report from BMO Capital Markets, which says the kind of correction some observers have been warning about is unlikely — though not impossible, given the right circumstances.

The question of a correction comes down to whether increases in household incomes can keep up...

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Richmond & Van West Side - Big Seller's Markets

Posted on Mar 07, 2011

Richmond and Vancouver's west side housing markets are red hot, according to a monthly real estate report released Wednesday.

“It’s a huge sellers’ market, the strongest in those areas I’ve ever seen,” Real Estate Board of Greater Vancouver president Jake Moldowan said in an interview. “And there’s no question that it’s the offshore market that’s fo...

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