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Improve Your Home in Just a Few Days with These 32 Weekend Projects
Spruce up your home in just a few days. Spruce up every room in your home with our collection of quick and easy do-it-yourself home improvement projects. Each one can be completed in just a weekend and increases the function—and style!—of your home. Make Your Entrance Inviting A cheery front-door color and a touch of landscaping can…
BC Speculation and Vacancy Tax 2024 FAQs, Rates, Declaring & More
What is the Speculation and Vacancy Tax? The Speculation and Vacancy Tax is an annual tax that affects owners of vacant homes or homes that are empty more than 6 months of the year. The government has stated that it is designed to ensure that foreign owners and satellite families are fairly contributing to B.C’s…
GST on New Homes in BC
British Columbia Goods and Services Tax (GST) is a 5% tax you pay on goods or services for personal use and enjoyment. Much like the GST you pay for the purchase of clothing, the same principle applies to the purchase of a new home in BC. GST is charged on top of the purchase price…
Property Transfer Tax in BC 2024
PROPERTY TRANSFER TAX One of the major expenses associated with the purchase of real estate in British Columbia is the property transfer tax (“PTT”). PTT becomes payable when a change in title is registered at the land title office. PTT is taxed on the fair market value of the land and improvements and is charged…
BC Home Flipping Tax
If you’re a buyer considering purchasing a property for the short-term or a seller looking to sell within the first 730 days of ownership, there’s an important new tax you need to know about. Starting January 1, 2025, the BC Home Flipping Tax will apply to certain property transactions, and it’s important to understand how it…
Amazon Prime cargo plane slides off YVR runway during landing
Posted November 19, 2024 7:03 am. Last Updated November 19, 2024 8:25 am. A runway at Vancouver International Airport (YVR) is closed Tuesday after an Amazon PrimeAir cargo airplane ran off the runway during landing overnight. In a statement to 1130 NewsRadio, YVR says the incident happened around 1:45 a.m. when the aircraft “overran the eastern boundary of YVR’s North Runway.” CLICK HERE TO LISTEN TO 1130 NEWSRADIO VANCOUVER LIVE! “Safety and security are our top priorities. YVR Fire and Rescue attended. There were no injuries reported and the CargoJet crew of three were safely deplaned,” said Chloe Reynaud, communications specialist. The North Runway is closed while airport crews assess the plane, which is sitting near a fence by Templeton Street, and runway. Pictures sent to 1130 NewsRadio show the aircraft sitting on its belly with the landing gear collapsed. “This event will have an impact on YVR operations while we work to bring the North Runway safely back into operation. We encourage passengers to check with their airlines for current flight schedules and status,” Reynaud added. A runway at Vancouver International Airport (YVR) is closed Tuesday after an Amazon PrimeAir cargo airplane ran off the runway during landing overnight. (Supplied) YVR says further updates about the situation will be shared when they become available. “We appreciate the work of those responding to the incident and everybody’s patience.” In a statement, the Transportation Safety Board of Canada says it’s sending a team of investigators to YVR “following a runway overrun of a Boeing 767 operated by CargoJet Airways.” “The TSB will gather information and assess the occurrence,” it said. You can watch CityNews 24/7 live or listen live to 1130 NewsRadio Vancouver to keep up to date with this story. You can also subscribe to breaking news alerts sent directly to your inbox.
Bank of Canada says Mortgage stress tests helped prevent spike in delinquencies
Stress test curbed credit growth while reducing risks for borrowers facing higher payments Mortgage stress tests have proven to be effective in preventing an uptick in delinquencies despite recent interest rate hikes, according to a new Bank of Canada (BoC) report. The federal government and the Office of the Superintendent of Financial Institutions (OSFI) first…
Bank of Canada warns of tinkering with mortgage rules
Second in command speaks out amid supply and demand imbalance The Bank of Canada’s second in command cautioned against “tinkering too much with the mortgage market” to fix housing affordability. Canada’s high home prices are primarily a function of a supply and demand imbalance, and the fix “will take time,” Senior Deputy Governor Carolyn Rogers…
Mortgage war. Canadians may emerge winners as banks fight for business
Canadians could see a “mortgage war” in the months and years ahead as interest rates fall and unprecedented conditions drive competition among the country’s banks, according to RBC Capital Markets. The growth restrictions recently imposed on TD Bank’s U.S. operations and the eventual arrival of open banking in Canada are among the factors at play,…
Pros and cons of a 10-year fixed mortgage: Is stability worth the cost?
While the vast majority of homeowners opt for the familiar 5-year fixed term, a tiny percentage of Canadians prefer the stability that comes with locking in a 10-year rate. In an unpredictable world where interest rates fluctuate, a 10-year fixed mortgage can offer peace of mind with long-term, stable payments. However, this product comes with…
Fixed mortgage rates may not follow Bank of Canada cuts
Variable-rate mortgages track the Bank of Canada’s overnight rate, which is now down 125 basis pointssince May. Fixed-rate mortgages, however, are influenced by bond yields—and Canadians shouldn’t count on those yields dropping much further, Drummond noted. “Odds are, they will be above the bank rate, and we will have a positive yield curve. Why? Because time…
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