| | | | | | | | Welcome to our newsletter, The Friday Finale! A simple, quick snapshot of information for you! Below are recent highlights of news over the past two weeks. | | | | | | | Bank of Canada is Watching Housing as it Becomes an Inflation Risk: BMO | Canada’s central bank will be watching home prices carefully when setting interest rates. In a note to investors, BMO Capital Markets explained that falling new home prices reduced the consumer price index (CPI) readings. However, they’re starting to bottom and are likely to become an influence on higher inflation. The Bank of Canada (BoC) is expected to keep a close eye on home prices, as they turn into an inflationary risk. | | Zillow Offers 1% Down Payment to Attract more Homebuyers | Real estate marketplace Zillow has launched a new program to help people who want to buy homes but are being squeezed out of the market by a surge in interest rates. Zillow Home Loans is offering mortgages with a 1% down payment option for eligible homebuyers looking to own property in Arizona, and will contribute an additional 2% at closing, the company said Thursday. It also plans to expand the program to other markets. | | | | RBC has Cut Jobs and is Planning to Cut More, Bank Reveals in Quarterly Earnings Showing Profit Rise | Canada's biggest bank has cut about one per cent of its workforce since the start of May and is planning to cut up to two per cent more this quarter, RBC revealed in its quarterly earnings on Thursday. The Royal Bank of Canada, the most valuable company listed on the Toronto Stock Exchange, revealed quarterly results on Thursday that showed profits increased by $295 million to $3.9 billion, as just about all divisions of the bank's multifaceted business showed growth.
| | Canada Has Seen Subprime Become The Fastest Growing Borrower Segment: Transunion |
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 same time, lenders are embracing it—with new loans to risky borrowers significantly outpacing the growth rate of high quality originations. | | | | The Green Effect Podcast!
| Finance, life, business and everything in between! Brand new content with just myself gabbing away about the real estate world, personal stuff going on in my life, stories as an investor, and whatever else! Come with me on the journey inside my head. | | BLOG POST: Green Thoughts | Most Recent Blog:Understanding the Appraisal Process in Canada: What Appraisers Look For
In the realm of real estate, appraisers play a crucial role in determining the value of properties. Whether you're buying, selling, or refinancing a property in Canada, a professional appraisal is often a mandatory step in the process. Appraisers are skilled professionals who assess various factors to arrive at an accurate and fair market value for a property. Let's delve into what appraisers look for in Canada and how their assessments impact real estate transactions.
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