Sneg Mortgage Team
601 West Broadway Suite 400 V5Z 4C2 Vancouver, BC, Canada

Fixed rates are likely to go up as Canadian Government Bonds yields went up fast by 0.10%. This increase is likely to find its way to fixed-rate mortgages. Still, the best choice as we see it is the variable rate that is predicted to stay low for next years.

Bloomberg-Nanos poll found that 45% of Canadians are confident of an increase in the value of their homes over the next half-year despite the second wave of COVID-19. The report also said that Canada’s sales-to-new-listings ratio was at its highest reading in two decades.

Altus Group released its annual Canadian Property Tax Rate Benchmark Report. The report found that residential tax rates were unchanged, with the national average being $8.98 per $1,000 of assessment. Halifax has the highest residential property taxes $11.96 per $1,000 of assessment, Winnipeg ($11.94), and Ottawa ($10.85). The lowest are Vancouver ($2.92), Toronto ($5.99) and Calgary ($7.52).