Real estate is an essential service and it is one of the most important economic drivers in BC’s economy. Physical distancing, virtual tools and strict personal safety protocols, yet we’re seeing more and more transactions happening daily. It’s important for buyers to note that prices overall remain stable. We are not seeing a lot of downward pressure,  because for many areas there is a shortage of inventory. We are even seeing multiple offer situations where buyers are paying asking price. When supply and […]

Longer term outlooks for the housing market are mixed, depending on which indicators are being considered. The gloomiest projections are coming from Canada Mortgage and Housing Corporation.  The agency expects it will be, at least, the end 2022 – nearly three years from now – before housing prices recover to pre-recession levels.  CMHC head Evan […]

The Bank of Canada has a new Governor.  And it could be said that everything old is new again. Current Governor Stephen Poloz will step down, as scheduled, at the start of next month.  He will be replaced by Tiff Macklem, an old hand at the central bank. Macklem is currently the dean of the […]

Mortgage Rate Update *2 year fixed @ 2.99% *3 year fixed @ 2.94% *4 year fixed @ 2.94% *5 year fixed @ 2.59% Receive cash bonus up to $2500 with your mortgage. *Variable Rate Mortgage @ prime – .20% prime rate is 2.45% *OAC, subject to certain conditions, rates may change without notice, call for a quote […]

1. Deferred mortgage payments are discretionary. Lenders maintain the legal right to timely repayment of their mortgages and mortgage payment deferral programs are offered at their sole discretion and each lender has different policies on how they handle these requests. Note: These programs are generally restricted to ‘Institutional” lenders only. Private mortgages do not qualify. […]

Currently home buyers must qualify at the 5 -Year Fixed bank benchmark rate at roughly: 5.19% Proposed rate would lower to roughly 4.80% Along with proposed lower interest rates, this will provide more opportunity for buyers to qualify for higher mortgages   Brought to you by:   Dave, Cindy, Amanda and Kimberly Walker 23 Year […]

Coldest Night of Year – Sat., Feb. 22, 2020 – Registration 3:00 PM   Ray Shepherd Elementary is participating in this family friendly event, to raise money for SOURCES’ Homeless Prevention Services which includes the “Rent Bank” program.   Sources Community Resources Society provides Advocacy, Housing, Homeless Prevention and Rent Bank Services which helps individuals […]

Mixed singles as usual, difficult for the consumer to make decisions. RBC, today will  increase its 3-year fixed closed rate by 0.10 percentage points; and its 4-year, and 5-year fixed closed rates by 0.20 percentage points; taking all three special offer rates to 3.24%. Brought to you by:   Dave, Cindy, Amanda and Kimberly Walker […]

Increased consumer confidence with more Canadians adapting to the mortgage stress tests and millennials reaching peak homebuying age. We are told to look for a 3.7% increase in the national average home price, plus continued low interest rates. Great time to review your financing and purchasing power. Give us a call today, to get ready […]