The roller coaster ride that is now the Canadian 5 year bond jumped another 50 bps in just the last 2 weeks with bond yields above 3.6% for the first time since early November! Why does this matter? It’s the best indicator we have for what’s going to happen with fixed mortgage rates which had briefly come down to into the mid to high 4% range but now back into the mid 5% range and higher.

This jump in the 5 year bond was kicked off by the January jobs report which added 10 times the expected amount with the government expecting 15,000 new jobs but instead reported adding 150,000 jobs. Furthermore, this is the second month in a row where economists were off by a factor of 10!  

In this weeks episode of The Vancouver Life Real Estate Podcast, we go through what this likely means for the rate hike in March, how this will affect our already very low inventory and what it could spell for inflation. Furthermore, we take a dive into Canadian Real Estate broadly speaking as national home prices continued to soften down 1.9% in January. 

However, are we seeing the same thing here in Vancouver? What about the stories of multiple offers? With sales just scraping by, are activity levels artificially low? Tune in and check out where we think the Vancouver Real Estate market is headed next!

If you’re wondering whether it makes sense to Buy or Sell in this environment, each case is different - so just reach out below and let’s chat about it.

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Contact Us To Book Your Private Consultation:

📆 https://calendly.com/thevancouverlife

Dan Wurtele, PREC, REIA

604.809.0834

[email protected]

Ryan Dash PREC

778.898.0089
[email protected]

www.thevancouverlife.com