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On September 16 the U.S. Federal Reserve hiked rates for the first time in three years. Two days later, odds of a Bank of Canada hike in October have swung to a coin flip.
A new report making the rounds this week puts a number on something Metro Vancouver presale buyers have felt for a while: developers are sitting on a mountain of finished condos nobody has bought.
The Bank held at 2.25 per cent on September 2. But a rate hold lasts 120 days and your presale completes in 2028, so almost none of the standard advice actually reaches you.
The new first-time buyers GST rebate keys off the date the original contract was signed with the builder. Assignments inherit that date, and most are on the wrong side of it.