The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week.
The 2021 Home Owner Grant threshold is set at $1.625 million, ensuring the same percentage of British Columbia homeowners continue to be eligible.
New in 2021, the Province is taking over full administration of the grant program to ease the burden on municipalities. The Province already administers the grant for rural homeowners. Homeowners in all municipalities will now submit their applications directly to the Province instead of through their municipal office. Similar to previous years, applications will open in May when a majority of property tax notices are received.