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16 11, 2022

Higher Rates Lower Prices

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With the buying frenzy from last year now over buyers are contemplating whether or not to buy a home with the higher interest rates, higher payments and lower prices. Last year was the opposite of where we are today so you need to take the time and see if it actually makes sense to

16 09, 2022

Real Estate Market Changes

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According to the Canadian Real Estate Association’s (CREA) newest statistics, August has seen a softening of sales for the 6th month in a row across the country.  Although the MLS Home Price Index dipped down 1.6% since July 2022, it is still elevated 7.1% compared with August 2021.  August’s slow down was the smallest of

14 07, 2022

Prime Rate Increases

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The Bank of Canada raised its overnight lending rate yesterday by 1% in what looks like a big effort to try and get ahead of inflation. All of the major banks and lenders in turn followed by increasing their prime rates by 1% as well. For most borrowers on a variable rate mortgage this means

14 06, 2022

Where are Rates headed

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There seems to be lots of uncertainty lately in regards to interest rates and we are getting a lot of questions on where things are headed. Here is a brief summary of both fixed and variable rates to help you make an educated decision based on your own personal situation. First of all, it must

17 05, 2022

April Housing Stats

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The Fraser Valley Real Estate Board issues a monthly statistics paper that gives an overview and dissects real estate activity throughout the Lower Mainland. This includes a summary of MLS activity for the Fraser Valley area in addition to monthly and yearly correlations. A recent analysis of the Fraser Valley market reveals sales have dropped

25 04, 2022

Budget 2022 Housing Benefits

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Finance Minister Chrystia Freeland released the new 2022 Federal Budget in early April. Highlighting the Budget were several proposed measures to ease the troubles of housing access - particularly for first time home buyers, affordability, and foreign ownership. Freeland’s Budget proposes the Tax-Free First Home Savings Account (FHSA), which gives home buyers the ability to

22 03, 2022

BC Assessment

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Are you a homeowner in BC? If so, then you have received a BC Assessment in the mail. You are not alone if you have wondered what the process is for determining your homes’ value. BC Assessment is an “independent, provincial Crown corporation, governed by a Board of Directors and is accountable to the

15 02, 2022

Fixed vs Variable Rates

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The question most asked by clients in the last month has been do I go with a fixed rate or a variable rate for my new mortgage? Not only is this important to ask now in a changing interest rate environment but is a question to be asked throughout the life of a mortgage

19 01, 2022

Housing Supply Shortage

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In a recent study done by the Bank of Canada, evidence shows that fewer and fewer first time buyers are entering the market. The Bank of Canada’s study showed that first time home buyers made up 47% of home sales in June 2021, down from 53% in 2015. While there is no single answer

16 12, 2021

Interest Rate Recap

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I hope you are all doing well and everyone is ready for the upcoming holiday season. It has been a challenging year for buyers with a limited supply of housing to buy along with a lot of competing buyers. We are still seeing many pockets of the market across the country where buyers are forced