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Avg asking price for a rental unit in Canada reached a record high of $2,042 in June. Yearly rent inflation for June was 7.5%, lower than the double-digit growth seen in 2022 and early 2023. Rents ↑ 1.4% MoM, the fastest monthly increase so far in 2023.

Mortgage delinquencies in B.C. remain low despite rising interest rates, high mortgage payments and financial pressure. The provincial mortgage delinquency rate of 0.11% for the first quarter of 2023 is the lowest ever recorded and foreclosure cases have decreased by 11.4%. Despite this, credit card and car payment data is signaling increasing financial pressure and…

Fort St. John offers favourable income-to-home price ratios, making it an attractive area for affordable homeownership. Create a budget to evaluate income and expenses, and use budgeting apps like Mint to track spending habits. Set a savings goal for a down payment and establish automatic transfers to a dedicated savings account.

In June, housing starts across Canada surged to their highest level in 10 years, according to Canada Mortgage and Housing Corp. (CMCH). The rate of multi-unit urban starts rose 59% to 219,914, while the rate of starts for single-detached urban homes increased by 3% to 42,901. Toronto and Vancouver led the way in construction, comprising…

BoC raised its interest rate by 25 bps to 4.75% in response to a strong Q1. Resultantly, mortgage lenders may increase 5-yr fixed mortgage rates above 5.5%. Housing markets have shown signs of recovery in recent months.