Please click here to read BCREA’s latest Mortgage Forecast.  

Highlights:

• Canadian fixed mortgage rates face upward pressure as geopolitical instability sends oil soaring.

• Tariffs and the Iran conflict are driving growth and inflation concerns.

• The Bank of Canada is walking a tight rope of double-sided risks.

Come take a look at 4999 Cedar Springs Drive!

3 bedroom, 2.5 bathroom rancher at Tsawwassen Springs featuring a layout designed for comfort, functionality and modern living!  Come check it out today!

Welcome to resort-style living at its finest. This beautifully designed 1,500 sq. ft. home offers the perfect blend of comfort, functionality, and lifestyle, featuring 3 spacious bedrooms and 2.5 bathrooms in a highly sought-after community.

Step inside to an open-concept main floor filled with natural light, where the modern kitchen flows seamlessly into the dining and living areas—ideal for both everyday living and entertaining. Thoughtfully designed with quality finishes, ample storage, and a welcoming atmosphere, this home is move-in ready.

You’ll find three well-appointed bedrooms, including a generous primary suite complete with a private ensuite and plenty of closet space. Two additional bedrooms and a full bathroom provide flexibility for family, guests, or a home office.

Outside, enjoy your own private outdoor space—perfect for morning coffee or evening relaxation—while being surrounded by the beauty and amenities of a vibrant resort community. Whether it’s golf, walking trails, recreation, or nearby dining, everything you need is just moments from your door.

This is an incredible opportunity to own a stylish, low-maintenance home in a lifestyle-driven community—perfect for families, downsizers, or anyone looking to enjoy a relaxed, resort-inspired way of living.

Bill C-4, the Making Life More Affordable for Canadians Act, today received Royal Assent. This legislation brings key affordability measures into law, which will save Canadians hundreds of dollars each year. These measures include:

• A middle-class tax cut: By lowering the first marginal personal income tax rate from 15 per cent to 14 per cent since July 1, 2025, nearly 22 million Canadians will benefit from tax relief of up to $420 per person, saving two-income families up to $840 this year. The bulk of tax relief will go to those with incomes in the two lowest tax brackets (i.e., those with taxable income under $117,045 in 2026), including nearly half to those in the first bracket ($58,523 and below in 2026). Canadians whose 2025 income was not subject to payroll deductions will realize this tax relief this spring, when they file their 2025 income tax return.

• The first-time home buyers’ rebate: Canada’s new government is eliminating the Goods and Services Tax (GST) for first-time home buyers on new homes up to $1 million and reducing the GST for first-time home buyers on new homes between $1 million and $1.5 million. This tax cut will save Canadians up to $50,000—allowing more young people and families to enter the housing market and make the goal of home ownership a reality for more Canadians. The rebate will generally apply to agreements of purchase and sale entered into on or after March 20, 2025, and before 2031. With Royal Assent of the bill, the Canada Revenue Agency (CRA) will now be able to start processing rebate claims.

• Permanently removing the federal consumer fuel charge from legislation: Canada’s new government cancelled the consumer fuel charge—directly allowing Canadians to save money from the price they pay at the pump. The government also removed the requirement for provinces and territories to have a consumer-facing carbon price as of April 1, 2025. These actions have reduced gasoline prices in most provinces and territories by up to 18¢/L in comparison to 2024-2025, lowering inflation. Bill C-4 will give Canadian consumers and businesses certainty that the consumer carbon price is being permanently removed by eliminating it from federal legislation.

Read more about the Making Life More Affordable for Canadians Act here:  https://www.canada.ca/en/department-finance/news/2026/03/legislation-to-make-life-more-affordable-receives-royal-assent.html

The Bank of Canada maintained its overnight policy rate at 2.25% this morning.  In the statement accompanying the decision, the Bank noted that the war in the Middle East has increased volatility and heightened risks in the global economy but the Bank still expects the Canadian economy to grow modestly in 2026 though the labour market remains soft and growth looks to be weaker than expected in Q1. On inflation, the Bank expects the sharp increase in energy prices to push CPI inflation higher in coming months.

Absent a U.S. war with Iran and its knock‑on effects on oil prices and other downstream costs, there is a strong case for the Bank of Canada to be lowering its policy rate. Core inflation continues to decelerate, with three‑month measures falling again in February and now averaging just over 1%. Economic growth is likely to come in below the Bank’s somewhat optimistic Q1 forecast, and Canada just recorded its weakest month for employment growth since 2022. Instead, the Bank will need to assess the inflationary impulse from a potential supply shock and the risk of pass‑through to inflation expectations, which argues for some degree of caution. Most estimates suggest that an extended period of high oil prices could add 1% to inflation, potentially pushing growth in consumer prices back to over 3%. While it is possible that the Bank would look through a temporary shock to prices and react instead to a weakening economy, the situation is currently too uncertain for there to be any strong conviction in a policy direction.

Copyright British Columbia Real Estate Association. Reprinted with permission.