Marion Lahey - Realtor: Coldwell Banker Horizon Realty

Come see this beautifully redone lakefront condo for yourself!

Open house:
Sunday April 28 12-2pm

1 bedroom, one bathroom
Private beach and an outdoor pool
$535,000

4058 Lakeshore Road
Kelowna
MLS # 10301989

www.realtor.ca

New Canadian Mortgage Rules To Have Little Impact On Housing: BMO - Better Dwelling Canada dropped some new real estate demand stimulus, in the name of improved affordability. Last week, the Government of Canada (GoC) announced they’ll be extending amortizations for first-time buyers in certain circumstances. There are concerns this will pour gas on the speculative fire that was ...

Home prices expected to climb 4.9% in 2024 as sales rise last month: CREA - BNN Bloomberg The Canadian Real Estate Association says it's now expecting the national average home price to climb 4.9 per cent on an annual basis to $710,468, more than double the hike it had predicted at the start of 2024.

March home sales, average price rise from year ago: CREA - Business News The Canadian Real Estate Association says the number of home sales in March rose 1.7 per cent compared with a year ago.

Bank of Canada holds key interest rate at 5%, says things moving in right direction | CBC News The Bank of Canada has held its key interest rate at five per cent for the sixth consecutive time since July, saying it will be looking for signs that slowing inflation is sustained before moving on rate cuts.

Canadian mortgage rates to begin drops starting this spring: forecast | Urbanized Canada's mortgage rates will begin a sharp drop starting in 2024, but it will depend on Bank of Canada pulling the trigger on interest rates.

Okanagan winery and villa on sale for just under $10M A winery ranked as the number one tourist destination in Kelowna by Trip Advisor is up for sale for just under $10 million.

CMHC ends first-time homebuyer incentive | CBC News The first-time homebuyer incentive has been discontinued by the Canada Mortgage and Housing Corporation, the federal agency announced on Thursday.

Selling your home in a 'buyers’ market' - Housewise Last week, there were 374 new (property) listings in the Kelowna area. There were 130 sales, 85 were canceled and 42 expired. There were also 104 price reductions and three price increases.

Fixed mortgage rates in Canada resume decline amid economic volatility - Mortgage Rates & Mortgage Broker News in Canada After a short-lived upswing in bond yields last month that nudged some fixed mortgage rates higher, lenders are once again bringing them back down.

A ‘window of opportunity’ may be opening for 1st-time homebuyers - National | Globalnews.ca Canada's housing market could see affordability conditions improve alongside interest rate cuts in the second half of 2024, an RBC report projects.

BC real estate expected to rebound | CityNews Vancouver B.C. real estate is expected to rebound because of falling rates for fixed mortgages and the potential for interest rate cuts: BCREA

Canadian Mortgage Rates Peaked, Won’t Go Back To 2019 Levels: BMO - Better Dwelling North American interest rate hikes are now largely out of the picture, and rate cuts are the new story. That was the take from BMO after the Bank of Canada (BoC) announced a hold on the 6th, with the US Federal Reserve expected to do the same on the 13th. Now the question on everyone’s […]

Okanagan home sells for record price The five-bedroom, 12-bathroom house at 6950 Lakeshore Rd. in Kelowna sold for a whopping $13.25 million to a local business person.

Canadian Mortgage Rates May Fall As Soft Inflation Lowers Yields - Better Dwelling Canadians looking for some mortgage relief might get some in the coming months. At least those looking for a fixed rate term. This morning, Government of Canada (GoC) 5 year bond yields fell sharply in response to soft American inflation data. Falling yields are part of a broad trend currently drivi...

September Start Highlights: (from CREA)

National home sales declined 1.9% month-over-month in September.

Actual (not seasonally adjusted) monthly activity came in 1.9% above September 2022.

The number of newly listed properties jumped 6.3% month-over-month.

The MLS® Home Price Index (HPI) edged down 0.3% month-over-month but was up 1.1% year-over-year.

The actual (not seasonally adjusted) national average sale price posted a 2.5% year-over-year increase in September.

stats.crea.ca

Kelowna’s property market surge highlights its allure, spotlighting intensifying housing demand - Think Local Amid its burgeoning reputation as a city with an incredible quality of life—backed by an astounding 90% of residents endorsing their satisfaction—Kelowna is on the cusp of a significant real estate explosion, thanks to the impending expansion of UBC’s campus in downtown Okanagan.

Home prices levelling off as sales slow, listings rebound: CREA Average home prices in Canada rose slightly in August as sales slowed and new listings returned to more normal levels, CREA said. Read on.

Mortgage interest costs now up over 80% since the start of the BoC's rate hikes - Mortgage Rates & Mortgage Broker News in Canada Canadian mortgage borrowers continued to see their interest costs climb in the second quarter, which have now soared over 80% since the Bank of Canada started raising interest rates.

Canada real estate: Average home price to stay flat through rest of 2023, says Re/Max “If the fall market is an early indicator for 2024 activity, we may see a very active first quarter as buyers and sellers take advantage of easing prices into the earlier part of next year."

Canada Has Seen Subprime Become The Fastest Growing Borrower Segment: Transunion - Better Dwelling To the surprise of many, Canadians have balanced high debt loads and credit quality for over a decade. That era might be over. Transunion Canada data reveals an explosion of subprime borrowers in Q2 2023. Higher living costs and rising rates have combined to produce higher risk borrowers. At the sam...

BC home sales slowing as interest rates rise | CityNews Vancouver Rising interest rates are beginning to moderate home sales across the province, according to the latest BCREA data.

Canadian Mortgages To Surge Higher As Bond Yield Hits 16 Year High - Better Dwelling Buckle up, Canadian mortgage rates are about to climb even further in the coming weeks. The Government of Canada (GoC) 5-year bond yield closed Thursday at a 16-year high. The yield directly influences a key mortgage rate, meaning interest costs are about to head in this direction as well. At least....

Canadian Housing Starts Surge 41%, But Government Targets Are Still Unrealistic: BMO - Better Dwelling Canada’s real estate developers are pushing forward despite less-than-ideal conditions. CMHC data reveals June housing starts made the biggest jump in a decade. Even with the jump, the general trend has been fewer housing starts, despite the booming population growth. At least one of Canada’s la...

Lower property tax rates are softening the blow of exorbitant B.C. home prices Cities of Vancouver, Abbotsford, Kelowna and Victoria have property tax rates below 0.5%, lower than other major Canadian cities. Read on.