News

Housing Prices Increasing Again

May 24th, 2023|

After the slowing of real estate sales due to the unprecedented and unexpected rate increases seen last year, the market is starting to adjust and recover.  April housing data showed an average price of homes at $716,000 – an increase of over $100,000 from January. 

Bank of Canada Rate Holding Steady

April 21st, 2023|

For the 2nd time in a row, the Bank of Canada has held rates steady at 4.5%.  The Bank has also indicated that it will be continuing its policy of quantitative easing.  According to their Monetary Policy Report, the Bank expects the rate of inflation

Prime Rate Holds Steady for First Time in a Year

March 21st, 2023|

As widely expected, the Bank of Canada, in its most recent meeting, held interest rates steady for the first time in the past calendar year, pausing the sharpest increase in interest rates in a generation.  Their move was not entirely unexpected as they indicated in

Real Estate Sales slow to start the year

March 1st, 2023|

Buyers are sitting this one out as the downward trend of number of sales and prices continued to slide in January.  Sales processed on the MLS for January 2023 numbered 626.  One has to go back 10 years to January 2013, before finding a month

Ban on Property Purchases for Foreign Buyers

January 19th, 2023|

Legislation regarding the ban on property purchases for foreign buyers was introduced into law last June. It was designed to mitigate the rising home prices in desirable areas and discourage foreign investors from buying prime real estate in major metropolises, as has happened within the

Homes still selling relatively quickly

December 20th, 2022|

The hot sales and price trend that has been the hallmark of the Fraser Valley for the past five years continues to show signs of a cooling off period.  November 2022 ended with sales down almost 7% from October 2022 and new listings slowing by

Higher Rates Lower Prices

November 16th, 2022|

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

B Lenders can qualify you for higher mortgages

October 21st, 2022|

With the rise in interest rates this year it has become more difficult to qualify for a mortgage as the stress test rates for mortgages are now over 7%. Given this we have seen an increase in clients using B lenders to qualify for

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