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Convicted B.C. double murderer given full parole
A man convicted in the notorious double murder of two women in Tsawwassen in 1990 when he was a teenager has been granted full parole.
Despite expectations of lower interest rates prompting homebuyers to leave the sidelines, a new report says the Bank of Canada's quarter-point cut to its key interest rate last month did not lead to a rush in demand.
The latest Royal LePage house price survey released Thursday, detailing market trends across Canada during the second quarter, said demand continues to outpace supply in the Prairies and Quebec, but Toronto and Vancouver saw slower-than-usual activity this spring.
Phil Soper, president and CEO of Royal LePage, said prices have remained sticky in Canada's largest markets.
“This spring, with bank rate cuts highly anticipated, we saw some buyers race to get a deal done ahead of an expected spike in demand,” said Soper in a press release.
"Yet, when that first cut finally occurred in early June, market response was tepid."
A Royal LePage survey conducted by Leger earlier this year suggested 51 per cent of would-be homebuyers would resume their search if interest rates decreased, but just 10 per cent said a 25-basis-point cut would prompt them to jump back into the market.
Around 18 per cent said they were waiting for a cut of 50 to 100 basis points, and 23 per cent said they need to see a drop of more than 100 basis points.
“Not surprisingly, the quarter-point cut to the bank rate didn't substantially improve the affordability picture," said Soper.
"The tale the market tells as rate cuts get to the point of a material reduction in the cost of borrowing should be a very different one.”
The national aggregate home price rose 1.9 per cent year-over-year to $824,300 in the second quarter of 2024, which was also a 1.5 per cent increase from the first quarter, according to the report.
The figure is compiled from the company's property data nationally and regionally in 64 of Canada's largest real estate markets.
When broken out by housing type, the national median price of a single-family detached home increased 2.2 per cent year-over-year to $860,600, while the median price of a condominium increased 1.6 per cent to $596,500.
Royal LePage is also forecasting the aggregate price of a home in Canada will increase nine per cent to $860,555 in the fourth quarter of 2024 compared to the same quarter last year.
This report by The Canadian Press was first published July 11, 2024.
A man convicted in the notorious double murder of two women in Tsawwassen in 1990 when he was a teenager has been granted full parole.
The risk to communities along the Fraser and Chilcotin rivers if a dam created by a massive landslide is breached is uncertain but has the potential to be 'significant,' according to officials.
Canadians looking to stock up on food for an emergency can order ready-made tubs from Costco online.
One person was killed and others were hurt when an event tent collapsed on hundreds of people north Edmonton on Wednesday.
A few days after moving into his North Vancouver neighborhood Paul Wiens was enjoying one of the perks – cutting through the scenic BCMC trail on his way to grab a coffee at Starbucks – when he had an unexpected but "magical" encounter.
Liberal MP Anita Vandenbeld fell short of an apology after instigating a fracas on Wednesday that led two witnesses testifying about violence against women to storm out of a parliamentary committee hearing.
Canadian-born Paul Whelan and an honorary Canadian citizen were set free Thursday as the United States and Russia completed their largest prisoner swap in post-Soviet history.
Canadian swimmer Summer McIntosh won her second Olympic gold medal in Paris with a victory in the women's 200-metre butterfly.
The red, white and green of Italy’s Air Force graced the skies above Toronto for the first time in nearly 40 years during a flyover Thursday.
A few days after moving into his North Vancouver neighborhood Paul Wiens was enjoying one of the perks – cutting through the scenic BCMC trail on his way to grab a coffee at Starbucks – when he had an unexpected but "magical" encounter.
It was a memorable day for many near the Bay of Fundy Monday when a Mola mola found its way to the Parrsboro Harbour in Nova Scotia.
A cat that went missing in Toronto back in 2011 has finally been reunited with its owner.
One golf course, two men, 12 hours and 333 holes of golf played. That's how the 13th annual Marathon Monday shaped up for Patrick Law and Dylan Thornborough, which ended up being an unofficial world record.
A woman who lives east of Montreal in Repentigny came home to a pool party on Sunday after a family of five had rented it on the Swimply app without the consent of the homeowner.
A CFL fan has unofficially broken the world record for watching CFL home games at all nine of Canada’s stadiums in the shortest amount of time.
The Anne Murray Centre in Springhill, N.S., marked its 35th anniversary over the weekend drawing dozens to the event from around the globe.
Imani Nadir says she looked high and low for a hairdresser when she moved to Montreal in 2022. Finally, after six months of making calls and sending emails, the 20-year-old came across Two Horses, a Montreal hair salon offering specialized services to women who wear face or head coverings.
As fire threatened people in Jasper National Park, Colleen Knull sprung into action.