Daniels mpv condos for sale.What is the impact of another interest rate hike in Canada on the housing market? Statistics Canada reported that Canada’s inflation rate was 7% in August, down from 7.6% in July.Please Visit: daniels mpv condos for sale to Get Your VVIP Registration Today!
Statistics Canada said this was affected by the fall in oil prices and the fall in housing prices. Earlier this month, the Bank of Canada raised key interest rates for the fifth time this year, continuing to fight runaway inflation with high interest rates. The Bank of Canada is expected to adjust interest rates again on October 26th and is expected to raise rates further to bring inflation back to the target of 2%.
Since the Bank of Canada raised interest rates in March, the Canadian housing market has slowed all the way. According to the composite house price index released by the National Bank of Canada, house prices in Canada fell sharply in August, from July to August. The composite index fell 2.4%, the biggest drop on record! According to the report, RBC Bank updated its forecast for the decline of the Canadian property market again a few days ago. It is expected that by the end of this year, the Canadian central bank will raise interest rates twice more, saying that “this downward adjustment trend in house prices is far from over.” RBC Bank raised its forecast for a fall in house prices from 12% to 14% on Sept. 15, after the central bank raised interest rates again on September 7th. This “historic house price correction” is largely due to the sharp rise in interest rates caused by central government actions to curb inflation.
RBC’s latest report points out that house prices will continue to fall as interest rates rise again in the near future. In addition, the report also raised its forecast for the central bank’s policy interest rate. It points out that RBC has raised its forecast for policy interest rates to 4 per cent from its original forecast of around 3.5 per cent in December. Philip Cross, a former chief economic analyst at Statistics Canada, said that while RBC’s latest forecast better reflects the market outlook, he expects house prices to fall by at least 20 per cent. He mentioned that if there is a firm commitment to curb inflation, this means that the policy of raising interest rates will last longer than people think and will hit the housing market harder. He expects the house price correction to continue until the end of 2023, rather than next spring.
As we all know, among a large number of traditional immigration countries, Canada’s immigration policy is the most active and open. Not only the immigration quota is increasing year by year, but also keeping pace with the times and constantly introducing favorable policies. Now the good news is again! According to the official website of Immigration Canada, on September 20, local time, Canadian Immigration Minister Fraser proposed an immigration plan aimed at helping more temporary residents become permanent residents. and said the Canadian government will take five measures to achieve this goal.
These five measures are briefly summarized as follows:
1. Using the immigration target in the immigration level plan for 2022-2024, Canada is expected to welcome 431645 new immigrants in 2022.
two。. The fast-track (Express Entry) system will be reformed to allow IRCC to select candidates according to current market needs.
3. Improve the permanent economic migration plan, including the introduction of the latest version of the 2021 National Occupational Classification (NOC), and improved access to information for new immigrants.
4. In order to support communities to attract and retain new immigrants, the federal government will also work with provinces and territories as well as employers to explore innovative ways to obtain permanent residency, such as provincial nomination schemes.
5. Speed up the approval of immigration applications through technological improvements to improve processing capacity, improve customer experience and modernize the immigration system.