Updates

INTEREST RATES HOLD STEADY INTO 2020 Interest Rates HOLD at 1.75% The Bank of Canada will be one of the only central banks ending 2019 without cutting interest rates. Recent data shows that the third quarter of the Canadian economy was stronger than expected, Governor Stephen Poloz has left the interest rate at 1.75 per…

REAL ESTATE RECAP October 2019: the market is rebounding Exciting news for the Canadian housing market as the numbers reported by the Canadian Real Estate Association (CREA) for October 2019 showed the largest increase for the month in over a decade. Canadian Real Estate Sales Rise Over 12% The 12-month growth is the highest for…

REAL ESTATE RECAP AUGUST 2019 FRASER VALLEY REAL ESTATE BOARD RELEASE – aUGUST 2019 Fraser Valley housing market continues to stabilize as sales pick up compared to last year SURREY, BC – For the second month in a row, home sales in the Fraser Valley surpassed 2018 levels bringing the market closer to historical norms.…

REAL ESTATE RECAP MID 2019 REVIEW After the perfect storm for a market correction unfolded in 2018, some much needed positive news in 2019 has generated cautious optimism in the real estate market. Here’s our take on the current state of the market from a development land perspective. cause and effect Through the first few…

MORTGAGE STRESS TESTS GET A LITTLE EASIER Canadian’s get a slight break as the interest rate used for mortgage stress tests is cut for the first time since 2016. The mortgage qualifying rate had its first increase July 2017 and continued to increase until it was locked in at 5.34% in May 2018. The new…

REAL ESTATE RECAP April 2019 Here’s a quick summary of current events affecting Fraser Valley real estate. Anniedale-Tynehead Clears Another Hurdle Last night, Surrey’s City Council approved a development application that will start servicing the large mass of undeveloped land in Anniedale-Tynehead. Port Kells residents packed City Hall and erupted in applause when it was…