Mindblown: a blog about philosophy.
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Canada’s Record High Rents in Early-Summer
Avg asking price for a rental unit in Canada reached a record high of $2,042 in June. Yearly rent inflation for June was 7.5%, lower than the double-digit growth seen in 2022 and early 2023. Rents ↑ 1.4% MoM, the fastest monthly increase so far in 2023.
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Waiting for the Fed: A Look at Current Mortgage Rates in Canada
Currently, Canadian mortgage rates have remained stable, providing relief after a surge in the past two months. There is an increasing interest in five-year fixed rates, which is the most popular option with 71% of recent rate searches. The direction of rates will largely depend on the U.S. Federal Reserve's upcoming decision. If this rate…
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New Listing: 304 33956 ESSENDENE AVENUE
Attention first time buyers, investors and empty nesters!!! Don't miss out on this large sized 1 bedroom 1 bathroom top floor condo with recent upgrades including newer flooring, appliances and paint. The building has also had the roof redone in 2021, new windows recently as well as an updated lobby. This unit has a nice…
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Happy Long Weekend
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Imbalance between new homes and new residents escalating unaffordability in B.C.
The imbalance between the number of people moving to B.C. and the amount of new housing being built is fuelling B.C's housing affordability crisis. Permanent and non-permanent immigration has surged in the last few years, with 180,000 people moving from other jurisdictions and 40,000 new housing units completed. This is a stark contrast to the…
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Fraser Valley Market Update
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New Listing: 8550 NORMAN CRESCENT
Welcome to 8550 Norman CRES. This 6 bedroom 3 bathroom home has had many updates over the years including, vinyl windows, 3 year old roof, furnace, kitchen cabinets, paint, trim, appliances, central air conditioning and premium vinyl siding. Basement is fully finished and easily suitable. Let's not forget about the attached tandem garage and detached…
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Greater Vancouver Market Update
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Saving for Your Dream Home: Effective Strategies
Fort St. John offers favourable income-to-home price ratios, making it an attractive area for affordable homeownership. Create a budget to evaluate income and expenses, and use budgeting apps like Mint to track spending habits. Set a savings goal for a down payment and establish automatic transfers to a dedicated savings account.
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Canada’s Mortgage Rates Might Rise Soon
BoC raised its interest rate by 25 bps to 4.75% in response to a strong Q1. Resultantly, mortgage lenders may increase 5-yr fixed mortgage rates above 5.5%. Housing markets have shown signs of recovery in recent months.
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