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Big news š”: BC is replacing the old Mortgage Brokers Act with the new MSA.
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MSA = stronger consumer protections, clearer broker rules, and tougher enforcement ā
.
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It officially kicks in October 13, 2026, after a 15-month transition period ā³.
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Expect higher standards, better disclosure, and advice designed for YOUR best interests š¬.
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During transition, always check your broker is registered using BCFSAās āFind a Brokerā tool š.
Surrey exceeded its 2025 housing target by 53%, delivering 6,488 net new units.
The provincial five-year target is 27,256 units; Surrey is ahead after year one.
Over 13,100 units have permits issued and are progressing through construction stages.
More than 45,100 rezoned units await construction, showing strong future development potential.
Surrey implemented 30+ process improvements to fast-track approvals and support housing delivery.
First-time buyers face affordability challenges, especially in London and the South East, but various schemes can help. Options include low deposits from Ā£5,000, Lifetime Isa bonuses, high loan-to-income mortgages, First Homes discounts, rent history-based loans, Rate Reducer deals on new builds, and shared ownership. 0% deposit mortgages exist but carry higher costs. Waiting for potential base rate cuts may improve affordability.
Nearly **4,400** homes listed in July
Listings ā **7.8%** year-over-year
Home sales dipped ~0.5% MoM
Buyers gain more market power
Avg. price: ~$460K, ā5% YoY
Happy Labour Day!
Labour Day is a chance to honor and appreciate the hard work and contributions of workers in various industries.
It's a chance to look back at workers' rights achievements and labor rights progress over time.
Sending warm wishes on Labour Day to honor the dedication and contributions of workers everywhere.
May your Labour Day be filled with rest, rejuvenation, and the satisfaction of a job well done.
Central bank held rates for the third straight time, keeping the overnight rate at 2.75%.
Decision follows rising inflation (1.9%) and a strong job report (+83,800 jobs), reducing the likelihood of a cut.
Ongoing U.S.āCanada trade tensions under Trumpās tariffs are creating uncertainty and upward inflation risks.
Scotiabank and RBC predict no more cuts in 2025, while others still expect easing later this year.
Next policy meeting is Sept 17 ā eyes now on whether the economy slows or trade chaos worsens.
Bond yields guide mortgage ratesāunderstanding them helps borrowers make smarter decisions.
A bond yield shows how much return investors earnālike interestāfor holding a bond.
BoCās neutral rate is 2.75%, aiming to balance growth without overheating or stalling.
Scotiabank sees rates holding at 2.75% through 2025, then easing to 2.0% in 2026.
Home sales expected to rise 6.3% in 2026, reaching nearly 500,000 across Canada.
Average home prices likely to climb to $697,929 in 2026āup 3% from this year.
CREA says pent-up demand is fueling sales, but uncertainty still holds things back.
Surrey has made significant progress in its Housing Action Plan, issuing permits for over 9,500 new housing units and implementing 30+ process improvements to reduce timelines and streamline approvals. Upcoming initiatives include updating policies, creating new zoning for mid-rise and mixed-use buildings, and enhancing the Official Community Plan. The city received $101.6 million in federal funding to support affordable housing projects.
Buying a first home involves deciding the type of property, assessing affordability, and understanding the local market. Consider your readiness to settle, budget for down payment and monthly costs, and factor in credit score and closing costs. Evaluate whether to rent or buy based on your situation. If your ideal home exceeds your budget, a starter home can help build equity until you're ready to upgrade.