With the “busy real estate market”, The Real Estate Board of Greater Vancouer, was recently recorded a membership of 12,200 realtors. Last recorded in South Surrey/White Rock, we found approximetly 1,700 realtors working our market each year, with approximetly 450, licensed local realtors.  “Not all Realtors are full time”. Some are in the business, along […]

South Surrey/White Rock Real Estate During current market conditions, with many multiple offer situations on homes, sellers will only consider offers where the buyers can produce documentation from there broker or finance company to confirm they have a Mortgage Pre-Approval.  A number of finance companies, will not review a buyer’s income or downpayment documents, until […]

Bank of Canada Announces Rate HomeNews by Justin da Rosa09 Sep 2015   The Bank of Canada announced Wednesday morning it will maintain its target for the overnight rate at 0.5%. “The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent,” the bank writes in […]

StatsCan addresses recession by Will Ashworth | 01 Sep 2015 Statistics Canada is reporting that GDP fell in the second quarter, confirming fears that the economy was in recession for the first half of 2015. StatsCan says the economy contracted at an annual pace of 0.5% in the second quarter of the year which is […]

Low mortgage rates to boost BC housing sales to 100,000 by Steve Randall | 19 Aug 2015 Sales through the MLS system in British Columbia are set to reach 100,000 units this year, for only the third time. The BC Real Estate Association says that demand for homes has not been so strong since 2007; […]

Market Commentary With the Bank of Canada’s latest rate cut now well established attention is turning to what happens next. Along with this month’s rate cut the Bank of Canada lowered its economic growth forecasts. It does not expect to see the economy return to full capacity until early 2017, indicating it is unlikely there […]

Brokers call for standardized penalties It may be an exercise in futility, but brokers are once again calling for consistency in the way banks calculate mortgage penalties. “We need regulation for penalties – every lender calculates them in a different way,” Paul Sidhu, president of Safe Mortgages told MortgageBrokerNews.ca. “I had one client that was hit […]

Borrowing is tougher for self-employed Homebuyers looking for a mortgage are finding conditions are getting tougher if they are self-employed, at a time when there is an increasing number of self-employed Canadians. Solid credit scores are multiple years in business are still not making it easy for business owners to buy their own home. Chad […]

Sorry Mr Oliver, we don’t believe you by Steve Randall | 23 Jul 2015   The majority of Canadians do not believe finance minister Joe Oliver’s assessment of the economy. Specifically they do not believe that the country has avoided recession. A new survey by Forum Research shows that 58 per cent of respondents say […]

Analysts predict lower rates for 2 years Reacting the Bank of Canada’s cut in interest rates many economists are predicting they will have to stay low for some time. While talk of cheaper mortgages may be in focus for homeowners and buyers the wider economic picture painted by the BoC is one of sluggish growth […]