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Fixed mortgage rates have increased between .50% to .60% over the last couple of weeks. This is largely due to the Bank of Canada ending quantitative easing (QE). QE was a stimulus program that was introduced at the start of the pandemic to pump money into the economy. What it also did was artificially lower the bond prices and by extension the fixed mortgage rates. Taking away the stimulus raise…

Learn about real estate in B.C.: buying and selling property, real estate consultations, and regulations for real estate services, real estate development marketing and pre-sale strata.Buying & selling property Real estate consultations Condo and Strata Assignment Integrity Register Land Owner Transparency RegistryRead More…

FINTRAC guidance related to the Ministerial Directive on Financial Transactions Associated with the Islamic Republic of Iran issued on July 25, 2020September 2021This guidance is related to the Ministerial Directive (MD) issued by the Minister of Finance that was published in the Canada Gazette and came into force on July 25, 2020.This guidance will answer the following questions…

The Province of British Columbia, working with BC Housing, delivers a wide range of Indigenous housing, programs and services for Indigenous youth, singles, families, women and children fleeing violence, seniors, elders, and those experiencing homelessness.  The Province of British Columbia is committed to reconciliation with Indigenous Peoples. As part of this commitment, the Province w…

In British Columbia, about 70% of households own their own homes. For many British Columbians, owning a home is an important investment towards financial security, wealth generation and retirement savings.Annual property taxesHomeowners in B.C. pay annual property taxes. Learn more about the annual property tax.Speculation and Vacancy TaxAll residential property owners i…

Strata living is a popular choice in B.C. In fact more than 1.5 million people live in stratas in B.C. Living in strata housing has unique roles and responsibilities; it is not the same as renting an apartment or owning a home which is not part of a strata corporation.Strata legislation applies to all stratasStrata living requires owners and residents to follow the Strata Proper…

What sources can a transferee use to determine whether a house is “new” or not?Information sources that can be used to determine whether the property qualifies as “new” under the Newly Built Home Exemption include, but are not limited to:The vendor: the information is included as part of the contract of purchase and saleLTSA: a title search shows that the application with the land title o…

Updates to speculation and vacancy tax information are posted here.Read the most recent update below.Latest updatesApril 20, 2021The provincial government announced its 2021 Budget on April 20, 2021. As a result, amendments to the speculation and vacancy tax were made. Learn more at B.C. provincial budget tax changes.April 9, 2021The speculation and vacancy tax websit…

As part of its 30-Point Plan for Housing Affordability (PDF), the B.C. government is taking steps to end the hidden ownership of real estate to make sure people are paying their fair share of taxes.Currently in B.C., people can hide their ownership behind numbered companies, offshore and domestic trusts, and corporations. This makes enforcement difficult.To improve tax agencies’ abil…