The Bank of Canada announced this morning that it is maintaining its overnight rate at 0.5 per cent. In the press release accompanying the decision, the Bank cited that inflation and economic growth were evolving roughly in-line with expectations, though household vulnerability to economic shocks has moved higher due to high debt burdens. 

The Canadian economy got off to a very strong start and will likely end up recording real GDP growthabove 3 per cent for the first quarter of the year. However, much of that growth was front loaded and more recent data has been weaker. Growth is expected to slow sharply in the second quarter as a result of the wildfires in Alberta and their impact on oil production before rebounding in the third quarter and ramping up to end the year. Slower growth through the summer months will keep the Bank on the sidelines though a probable tightening of monetary policy by the US Federal Reserve as early as June may add some upward pressure to Canadian long-term interest rates.

“Copyright British Columbia Real Estate Association. Reprinted with permission.”

For more information contact The Dion-Ivans Real Estate Team today!!

Imagine if you dreamed of owning a special limited edition vehicle. What
would you do to ensure that your dream vehicle would someday be parked
in your driveway — with your name on the ownership papers? 

You would probably start by doing some research. You’d find out how much
that vehicle would cost, what features are available, and so forth. You would
likely visit a local dealership and take a test drive if a model is available on
site. You would keep an eye on the market for any that come up and let the
dealer know you’re looking for just that car. 

If you did, then, some day, you’d probably be the proud owner of the limited
edition car of your dreams. 

What does this have to do with real estate? 

Well, you can take the same approach when there’s a neighbourhood you’d
love to live in someday. You can target it, learn what homes typically cost in
that area, and keep your eye on that market in case a property becomes
available that meets your criteria.

By focusing on a specific neighbourhood, you increase your chances of
someday living there, simply because you’re focusing on it. 

Of course, neighbourhood targeting isn’t as simple as aiming to own a
specific car someday. That’s why you need a great REALTOR® who can
keep an eye on that neighbourhood on your behalf and alert you to
opportunities that become available. 

Then, when there is a listing that’s a good fit, you can decide whether or not
to make a move. 

Is there a dream neighbourhood you’d like to live in some day? 

Call The Dion-Ivans Real Estate Ream today to start making it happen!!