Bank of Canada Releases its Annual Report: 2021

Bank of Canada Releases its Annual Report: 2021 The agreement between Bank of Canada and the Government of Canada states a target of 2% inflation rate Bank of Canada-Annual Report 2021   The Governor reflects on the impact of Covid on country’s economy and the challenges it has brought making the economic recovery so complex.…

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Bank of Canada Increases Policy Rate

Bank of Canada increases policy interest rate… Bank of Canada hikes key interest rate to be 0.5% See full statement below: “The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %. The Bank is continuing its reinvestment phase, keeping…

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South Campbell Heights gets final approval from Metro Van

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SOUTH CAMPBELL HEIGHTS GETS FINAL APPROVAL Regional government finally approves Surrey’s plan to expand industrial lands Metro Vancouver’s regional government has narrowly approved the City of Surrey’s plan to turn rural lands into an industrial park. The decision comes despite objections from the Semiahmoo First Nation and environmentalists. After more than three hours of debate,…

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Surrey Langley SkyTrain Project Updates

Surrey Langley SkyTrain Project Updates Fall 2020 TransLink Enters Phase 3 of Public Engagement for Surrey Langley SkyTrain Project September 18, 2020 As TransLink enters its third phase of public engagement for the Surrey Langley SkyTrain project, updates have been released on overall project progress highlighting previous public engagement. The media presentation on updates posted…

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Mortgage Rate Cut By Bank of Canada

Mortgage Rate Cut By Bank of Canada  MORTGAGE RATES HAVE FALLEN FOR THE THIRD TIME THIS YEAR The mortgage rate has been cut by the Bank of Canada to 4.79 percent. A further decrease from where the rate fell in March of 2020 at 5.04 percent. These lower rates can be seen as a win…

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Redwood Heights Community Plan Approved

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REDWOOD HEIGHTS NEIGHBOURHOOD CONCEPT PLAN APPROVED REDWOOD HEIGHTS (Grandview Area 4) OWNERS CAN FINALLY PROCEED WITH DEVELOPMENT AFTER TEN YEARS OF PATIENCE On May 4th, 2020, during the City of Surrey’s Council Meeting, the Council officially approved the Redwood Heights Neighbourhood Concept Plan (NCP). Redwood Heights is the fourth neighbourhood planned within the Grandview Heights…

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Canada Emergency Commercial Rent Assistance

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CANADA EMERGENCY COMMERCIAL RENT ASSISTANCE THE FEDERAL GOVERNMENT OF CANADA HAS JUST ANNOUNCED A NEW RENTAL SUPPORT PROGRAM: the Canada Emergency Commercial Rent Assistant. The Canadian Government is offering a package that gives property owners a forgivable loan to cover 50% of the monthly rent. In a move to assist small businesses, non-profits, and charity…

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Real Estate Recap: April 16, 2020

Real Estate Recap APRIL 16, 2020 Here are the top stories we’re tracking that are affecting real estate values in British Columbia: THE GREAT LOCKDOWN The International Monetary Fund (IMF) has revised its predictions for this year and ongoing financial challenges, which has now been dubbed the “Great Lockdown” recession. IMF’s forecast predicts the steepest economic…

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Real Estate Recap: April 9, 2020

Real Estate Recap APRIL 9, 2020 Canada’s fight against the Coronavirus has received widespread praise among other countries, giving the country a positive outlook on the Canadian economy re-opening. It’s easy to get lost in negative news, job losses, and mortgage delinquencies, but there are definite glimmers of hope and opportunities in the chaos. Here…

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Real Estate Recap: March 2020

Real Estate Recap March 2020 If March could be summarized in one word it would definitely be turbulent. The month started off with a real estate market that was quickly heating up, tracking at 55% higher sales than the year prior. That all came to a near standstill with the spread of COVID-19. The Federal…

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