A B.C. credit union suggests that relying solely on a down payment to qualify for homeownership is outdated. While important, a down payment is just one factor; a holistic view of finances and rent management is crucial. Many renters aim to own homes but have limited savings. Choosing a community that fits lifestyle and career goals is vital. Experts recommend open, honest financial discussions to plan for homeownership, even if current finances seem insufficient.
Federal legislation effective March 2026 allows GST relief for first-time home buyers on qualifying new homes priced up to $1.5 million, with full exemption up to $1 million. Eligibility depends on purchase date, home use, and documentation. Buyers must verify rules carefully, keep detailed records, and not assume all properties qualify. Taxpayers should confirm current rules before filing or financial decisions, as tax impacts vary by individual circumstances.
A housing agency said US tariffs could keep more Canadian lumber at home, potentially supporting ~4K extra homes each year through domestic homebuilding.
Its analysis estimated more consistent use of Canadian wood products could lift annual ground-oriented housing starts by ~4%, adding supply where wood-based building is common.
Building costs for those homes could fall by as much as ~17% in some Canadian markets, with savings varying by location and housing type.
Detached homes and townhouses stood to benefit most because they use more wood products than high-rise apartment buildings, improving project economics for builders.
The opportunity could help housing supply and forestry, but lumber prices address only part of builders' challenges, alongside elevated financing, labour, and other barriers.
Earlier this year, Canada’s ownership-cost burden reached ~53% of median household income by Late-Q2, improving by ~0.5 points from Late-Q1 nationwide, a slight easing.
Ownership costs stayed mostly stable through Late-Q2, showing affordability improved only modestly and suggesting the national shift came from steady pricing, not a rapid reset.
Within Canada, Vancouver and Toronto led housing-cost declines, while Regina, Saskatoon, and Winnipeg posted modest price gains, showing affordability shifts varied by market.
Calgary and Edmonton were largely flat quarterly, with slight cost easing, yet both stayed above long-term affordability norms, underscoring lingering pressure for local buyers.
Edmonton remained among Canada’s most affordable major markets, but even there buyers faced affordability hurdles that could keep some from entering the market.
Over half of prospective Canadian homebuyers would consider multi-generational living, with 74% of first-time buyers preferring homes they can stay in longer. Many current homeowners find moving up the property ladder difficult, with financial constraints limiting upgrades. Prospective buyers are split on the risk of buying now versus waiting. Homeowners face stress and financial pressure around mortgage renewals, with concerns about rising interest rates.
In Mid-Q3, Canada home sales slipped ~1% MoM and ~7% yearly, as economic uncertainty and higher mortgage costs weighed on market activity.
Canada’s price index was flat MoM in Mid-Q3 and ↓~3% yearly, while newly listed properties rebounded ~3% after three straight monthly declines.
The sales-to-new listings ratio eased to ~49% from ~51% in Early-Q3, moving further below its long-term avg. near 55% across Canada overall.
An economist said rising inflation risks and doubts about recent growth changed the broader backdrop, while higher bond yields pushed fixed mortgage rates upward.
At that time, markets priced in a ~60% chance of an Early-Q4 rate hike, with >1 percentage point of tightening by 2027.
Halloween falls on October 31 because the ancient Gaelic festival of Samhain, considered the earliest known root of Halloween, occurred on this day.
In the eighth century, Pope Gregory III designated November 1 as a time to praise all saints.
Soon, All Saints' Day incorporated some traditions of Samhain and the evening before was known as All Hallows Eve, and later Halloween.
Over time, Halloween evolved into a day of activities like trick-or-treating, carving jack-o-lanterns, festive gatherings, donning costumes and eating treats.
Today’s the day to eat candies and sweets to your heart’s content! Happy Halloween!
A $2-billion rebate program will offer up to $10,000 per household to encourage Canadians to switch to electric cold-climate air-source heat pumps. The program, spanning eight years, aims to support up to 820,000 homeowners, promising lower energy bills, year-round comfort, and reduced emissions. Income-based rebates range from $2,000 to $10,000, with no energy audits required. Applications will be online with quick approval and payment.
Canada's housing market softened recently, with activity ↓~7% yearly and national sales ↓<1% MoM as buyers weighed trade tensions, oil prices, and inflation worries.
Rising Canada bond yields added pressure to fixed mortgage rates, yet an industry expert still expected Late-Q3 and Q4 activity to stay busy.
Canada's central bank recently held its policy rate, while inflation stayed near ~3% for a second month and some economists saw room for 2027 easing.
For the rest of 2026, one expert expected either no change or one small hike, then possible cuts in 2027 as conditions improve.
The biggest rebound catalyst remained a US trade deal, while buyers were urged to watch the next 6 to 12 mo and stay ready.
Kamloops had 749 active listings on a listings platform, offering a broad view of current supply and setting context for standout properties.
One notable Kamloops listing was a $4.5M apartment building with 22 units, showing that multi-unit investment properties were part of the local mix.
The Kamloops snapshot emphasized outliers rather than typical single-family pricing, using unusual listings to illustrate the market's range beyond standard benchmark conversations.
Current inventory and a high-value apartment listing together highlighted how Kamloops buyers and investors could encounter both everyday options and exceptional opportunities.
For anyone tracking Kamloops, the latest figures showed a market where active supply and distinctive properties both mattered when understanding local Real Estate choices.
