The Bank of Canada is set to raise rates, yet again, next week further impacting the already heavily stressed mortgage market. Effective payments to pay for a typical home have doubled in the past 2 years and variable rate holders are feeling the pinch. We dive into what will happen next and when you can expect rates to start coming down.
November stats are in and we look at the National level and at the local level whereby we look at inventory levels, sales volumes and what is happening to prices in Vancouver. Despite all of the recent action from the BoC and consumer confidence below that of the global financial crisis – how is it that prices have remained very consistent for the last 5 consecutive months?
From there we take a broad look at national prices and inventory levels to see how they measure up to our local marketplace. Interestingly, we take a dive into the Bank of Canada’s first recorded loss in its 87 year history and how they’ve painted themselves into a corner that’s getting harder and harder to get out of. We review what was said and forecasted versus the actual outcome and what it means for markets going forward.
This week is a loaded episode with some great macro and micro level data that you surely don’t want to miss. With a rate hike coming next week here in Canada, we take a stab at what that rate hike looks like and how it will affect the market as we head into 2023.
_________________________________
Contact Us To Book Your Private Consultation:
📆 https://calendly.com/thevancouverlife
🏡 Visit our website to see active listings and valuable Real Estate information 🏡
→ The Vancouver Life: https://bit.ly/3yN25V7
💥 Follow us on Social Media 💥
→ Instagram: https://bit.ly/3jSkRo1
→ Facebook: https://bit.ly/3g05bxK
→ Twitter: https://bit.ly/3xMGFpZ
The Vancouver Life Real Estate Group are licensed Real Estate Agents at eXp Realty Vancouver / eXp Realty Canada:
🏆 Top 3% Agents 2019, 2020, 2021
🏆 Medallion Club Members 2019, 2020, 2021, 2022
🏆 Over $250,000,000 in sales
_________________________________
👩🏼💼 REALTORS! Unlock the secrets of Top Producing Agents, learn the power of passive income and get exclusive access to real estate projects – all for FREE 👨🏼💼
Level up your production and dominate ATTRACTION Marketing that creates INBOUND Leads – all taught by 3 Top Agents.
📆 Book a Private 1-on-1 to learn how we help agents DOUBLE their business → https://bit.ly/30MinsLevel10
This is a taste of what our Coaching Team can offer you, free of charge!
🆓 Level 10 Agent Coaching Systems & coaching calls every week
🆓 YouTube, social media & online lead generation coaching
🆓 Google Ads coaching
🆓 Online lead generation program
🆓 Online lead conversion program
🆓 90-day Coaching new agent training program
🆓 Your Assistants trained & hired
🆓 Your Inside Sales Agents trained & hired
🆓 Access to our private Facebook mastermind Group
🆓 Access to 1-on-1 support
🆓 Access to kvCORE, 40+ weekly training calls, stock, revenue share and more…
👉 Learn more at https://bit.ly/level10agent