In Canada, there are many benefits available to the first time home buyers. From tax credits to tax rebates, grants and special concessions for down payment criteria.
Vancouver, BC has been in news recently for not only for its red hot real estate market, but also for malpractices like shadow-flipping and foreign investment with reports of Chinese buyers accounting for 33 percent of total real estate sale last year. What is being done to address this problem?
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.