{"id":11283,"date":"2019-01-05T10:10:36","date_gmt":"2019-01-05T18:10:36","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11283"},"modified":"2019-01-03T16:36:34","modified_gmt":"2019-01-04T00:36:34","slug":"the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/","title":{"rendered":"The Policy Move with Rising Interest Rates are Limiting Many Homebuyers Purchasing Power"},"content":{"rendered":"<p style=\"text-align: justify;\">The Canadian Real Estate Association predicts home sales in Canada in 2019 are going to sink to a nine-year low in a forecast released this week.<\/p>\n<p style=\"text-align: justify;\">\u201cWhile economic and demographic fundamentals remain supportive for housing demand in many parts of the country, policy headwinds together with rising interest rates are limiting access to mortgage financing and negatively impacting homebuyer sentiment,\u201d says CREA in a statement.<\/p>\n<p style=\"text-align: justify;\">In January this year, the federal government changed mortgage rules to expand stress testing, the process of requiring a mortgage applicant to qualify at a higher interest rate than they are signing on for.<\/p>\n<p style=\"text-align: justify;\">As a result, even buyers who put down a 20-percent downpayment for an uninsured mortgage with a big bank would be required to qualify at a higher rate than before. While this led to a late-year increase in home sales in 2017, it meant many buyers this year had less purchasing power. The policy move came at a time when interest rates were already on the rise after a prolonged period of historically low ones.<br \/>\n<a href=\"https:\/\/www.roryc.ca\/blog\/?attachment_id=11284\" rel=\"attachment wp-att-11284\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-11284\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/12\/livabl-for-RC-blog-288x206.jpg\" alt=\"\" width=\"555\" height=\"397\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/12\/livabl-for-RC-blog-288x206.jpg 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/12\/livabl-for-RC-blog-768x550.jpg 768w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/12\/livabl-for-RC-blog.jpg 896w\" sizes=\"auto, (max-width: 555px) 100vw, 555px\" \/><\/a><br \/>\nAs a result, CREA anticipates 456,000 homes will change hands in 2019, inching down 0.5 percent from this year\u2019s anticipated total (458,200). Ontario home sales are expected to pick up slightly while Quebec displays continued strength, but more declines in BC and Alberta will counter these improvements, CREA says.<\/p>\n<p style=\"text-align: justify;\">The association is calling for the average price of a Canadian home in 2019 to be $496,800, up 1.7 percent compared to 2018, a year in which CREA estimates prices will drop 4.2 percent on a year-over-year basis.<\/p>\n<p style=\"text-align: justify;\">\u201cThe decline in the national average home price in 2018 has been mostly compositional, reflecting fewer sales in British Columbia and Ontario, Canada\u2019s two most expensive provinces by a substantial margin,\u201d CREA explains. Slumping prices in Alberta, Newfoundland, and Saskatchewan will weigh on the national average next year, while pricing in BC is projected to remain roughly flat.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2018\/12\/2019-worst-year-canadian-home-sales-decade.html\">2019 Expected to Be Worst Year for Canadian Home Sales in Nearly a Decade<\/a> by Josh Sherman | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Canadian Real Estate Association predicts home sales in Canada in 2019 are going to sink to a nine-year low in a forecast released this week. \u201cWhile economic and demographic &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-11283","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Policy Move with Rising Interest Rates are Limiting Many Homebuyers Purchasing Power &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Policy Move with Rising Interest Rates are Limiting Many Homebuyers Purchasing Power &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The Canadian Real Estate Association predicts home sales in Canada in 2019 are going to sink to a nine-year low in a forecast released this week. \u201cWhile economic and demographic &hellip; [read more]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/12\/livabl-for-RC-blog.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\\\/#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"The Policy Move with Rising Interest Rates are Limiting Many Homebuyers Purchasing Power\",\"datePublished\":\"2019-01-05T18:10:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\\\/\"},\"wordCount\":339,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"image\":{\"@id\":\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2018\\\/12\\\/livabl-for-RC-blog-288x206.jpg\",\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\\\/\",\"url\":\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\\\/\",\"name\":\"The Policy Move with Rising Interest Rates are Limiting Many Homebuyers Purchasing Power &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\\\/#primaryimage\"},\"image\":{\"@id\":\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2018\\\/12\\\/livabl-for-RC-blog-288x206.jpg\",\"datePublished\":\"2019-01-05T18:10:36+00:00\",\"breadcrumb\":{\"@id\":\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2018\\\/12\\\/livabl-for-RC-blog.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2018\\\/12\\\/livabl-for-RC-blog.jpg\",\"width\":896,\"height\":642},{\"@type\":\"BreadcrumbList\",\"@id\":\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Policy Move with Rising Interest Rates are Limiting Many Homebuyers Purchasing Power\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Policy Move with Rising Interest Rates are Limiting Many Homebuyers Purchasing Power &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"http:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/","twitter_card":"summary_large_image","twitter_title":"The Policy Move with Rising Interest Rates are Limiting Many Homebuyers Purchasing Power &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"The Canadian Real Estate Association predicts home sales in Canada in 2019 are going to sink to a nine-year low in a forecast released this week. \u201cWhile economic and demographic &hellip; [read more]","twitter_image":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/12\/livabl-for-RC-blog.jpg","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"http:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/#article","isPartOf":{"@id":"http:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"The Policy Move with Rising Interest Rates are Limiting Many Homebuyers Purchasing Power","datePublished":"2019-01-05T18:10:36+00:00","mainEntityOfPage":{"@id":"http:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/"},"wordCount":339,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"image":{"@id":"http:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/#primaryimage"},"thumbnailUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/12\/livabl-for-RC-blog-288x206.jpg","articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["http:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/#respond"]}]},{"@type":"WebPage","@id":"http:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/","url":"http:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/","name":"The Policy Move with Rising Interest Rates are Limiting Many Homebuyers Purchasing Power &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"primaryImageOfPage":{"@id":"http:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/#primaryimage"},"image":{"@id":"http:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/#primaryimage"},"thumbnailUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/12\/livabl-for-RC-blog-288x206.jpg","datePublished":"2019-01-05T18:10:36+00:00","breadcrumb":{"@id":"http:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["http:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/"]}]},{"@type":"ImageObject","inLanguage":"en-CA","@id":"http:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/#primaryimage","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/12\/livabl-for-RC-blog.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/12\/livabl-for-RC-blog.jpg","width":896,"height":642},{"@type":"BreadcrumbList","@id":"http:\/\/www.roryc.ca\/blog\/2019\/01\/the-policy-move-with-rising-interest-rates-are-limiting-many-homebuyers-purchasing-power\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"The Policy Move with Rising Interest Rates are Limiting Many Homebuyers Purchasing Power"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/11283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=11283"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/11283\/revisions"}],"predecessor-version":[{"id":11285,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/11283\/revisions\/11285"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=11283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=11283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=11283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}