VRD Thursday, January 26, 2023

The summary

In the news, what goes up must come down. The Bank of Canada predicts some house prices will continue to drop - especially in areas like Chilliwack where they jumped by almost 50 per cent in the first couple years of the pandemic. The cost of a mortgage is going up yet again after the central bank raised its rate for the eight consecutive time. The Bank of Canada rate, which is always a gap lower than most lending rates, now stands at 4.5 per cent…up 25 basis points.