Economics A Brief Note on New Listings Activity in 2023

In this Market Intelligence, we show that the pattern of new listings we see is, in fact, a usual outcome of current market dynamics and underlying economic fundamentals.

News Releases Too Tight? The Impact of Bank of Canada Tightening on BC Housing Markets

The latest Market Intelligence report explores both the historical impacts of the Bank raising its policy rate and a number of scenarios likely to play out in BC’s housing market as a result.

Open House The Podcast PODCAST: What Does the Public Really Think About the Hot Market? (April 2021)

Featuring a conversation with Research Co. president Mario Canseco about his public opinion survey on BC’s hot housing market.

BCREA Interest Rates Main Cause for Hot Market According to Recent Survey of BC Public

From the causes of the historically busy market to Realtor practice, and potential measures to cool the market, the public weighed in on a range of topics in a recent survey conducted by Research Co.

Legally Speaking Criminal Rate of Interest #243

An interest rate in excess of 60% is illegal under Section 347 of the Criminal Code…

Legally Speaking Purchaser's Knowledge of When Approval of Financing Given; Criminal Rate of Interest; Is an Application to Discharge a Mortgage Sufficient Evidence of Clear Title? #194

What are the legal consequences for a purchaser whose Contract of Purchase and Sale was subject to raising a mortgage by October 19, 1990, when the purchasers were not made aware that the mortgage…

Legally Speaking Interest – The Criminal Illegal Rate #151

In times like these we might feel that high interest rates are a crime, but they don’t become a crime under the Criminal Code of Canada until the effective annual rate exceeds 60%…

Legally Speaking Interest, Prime + 2%; Vendor Take-Back Mortgage; Residential Mortgage or Residential Agreement for Sale #130

An offer to purchase a commercial building was subject to raising a first mortgage at a rate of interest no more than “C.I.B.C. prime plus 2%.” The Commitment letter from…

Legally Speaking Tenancies, Subject to Existing #101

Lower interest rates have helped fuel a sharp increase in demand for properties in Victoria and the Lower Mainland, and I trust, throughout the Province.

Legally Speaking Interest Clauses – Uncertain and Unenforceable #100

What do the following three clauses have in common…

Legally Speaking Mortgagee Entitled to Six Month’s Interest in Lieu of Notice #99

Mary borrowed $100,000.00 from Joe in August, 1983, which she agreed to pay with interest at 11% in monthly installments over a period of one year…

Legally Speaking Commissions, Garnishees and Interest #97

Before weave the memory of 1986 too far behind, some questions have been asked concerning several of the 1986 Legally Speaking columns…

Legally Speaking Interest Calculation #95

Have you ever had a vague suspicion that the interest quoted to you on the pay-out of a loan was higher than it should be…

Legally Speaking Foreclosure – Defence of Vendor/Mortgagor Against Deficiency Claim #72

The Real Estate Council has recently advised licensees of the desirability of advising a vendor of the vendor’s continuing liability to a mortgage lender under a mortgage granted by the vendor on property that is then so

Legally Speaking Royal Trust Company Mortgage Renewal Agreement #47

Another case has decided whether or not a mortgagor with a low interest five year mortgage which was renewed during the period of high interest rates had the right to prepay it in spite of the terms of the renewal…

Legally Speaking Prepayment of a Locked in Mortgage (#2 – A B.C. Decision) #39

Column No. 38 reviewed the impact of a 1980 Ontario decision interpreting the provisions of the Ontario Mortgage Act in a way which gave a mortgagor who appeared to be locked into a high interest renewed mortgage the…

Legally Speaking Prepayment of a Locked in Mortgage #38

The contrast between today’s relatively low rates of interest and the high rates found in mortgages which were renewed in 1982 has led the mortgagor with a closed renewal mortgage to try to find ways in which the…

Legally Speaking Concessionary Financing, Take-Back Mortgages and Buy-Downs Interest Rates #21

Column 20 discussed concessionary financing by vendors in the form of take-back mortgages and buy-downs of interest rates on high interest mortgages to be assumed or arranged by a prospective purchaser…

Legally Speaking Concessionary Financing, the Salvation of the Housing Markets #20

An article in the Financial Times of Canada of April 12, 1982 reviews the extent to which “concessionary financing” by vendors has been the salvation of the housing markets in the past few months…

Legally Speaking Damages Awarded When Prospective Buyers Failed to Complete the Sale of Their Home #18

Two commissions paid but only one completed sale, and damages awarded of $43,588.98, all arising from the failure of prospective purchasers to complete the sale of their own home…

Legally Speaking Increases in Annual Rentals and Interest Rates Under the Interest Act #15

Before we leave 1981, we should refer you to two columns in which the Court cases upon which the discussions in both columns were based, were either appealed or affected by a decision in a separate case…

Legally Speaking The Veterans Land Act Requires Special Consideration #13

A listing given by a veteran who occupies land and improvements under an unregistered Agreement for Sale from the Director, The Veterans Land Act, requires special consideration on the part of the licencee who takes…

Legally Speaking A Vendor May Stipulate a Higher Rate of Interest Apply if Default Occurs on the Part of the Purchaser #7

Occasionally, a vendor who has agreed to carry part of the sale price on a mortgage, agrees to take a lower rate of interest than the current rate, because the remaining terms of the sale justify that decision…