May 2022 saw a 35.1% decrease in residential unit sales over May last year. This chart shows the direction we are currently headed. As we head towards a balanced market or possibly a buyers market, think about getting pre-approved now to lock in that lower rate as rates are bound to increase over the next […]

Canada’s biggest banks along with various lenders have raised their 5 year fixed rates. This includes TD, BMO, RBC, etc… this following the increase in bond yields over recent weeks. Most of the big banks have raised their expectations on what the Bank of Canada’s overnight rate hikes will be by the end of this […]

The new prime rate is now 3.2 % up from 2.7%, which marks the biggest increase in 22 years. One of the causes of this increase is to help battle the high inflation. Keep your eyes peeled on how these increase affect the market or reach out with any questions! Prime rate: The rate used […]

Bill 12 was passed by B.C., the bill aims to protect homebuyers by allowing a period of time where they can back out of their home purchase with no or diminished legal consequences. This most likely brought on due to the high sales/offers throughout the pandemic with little to no conditions(B.C.’s finance minister saying 70-80% […]

-Housing prices in British Columbia were up 24.9% year over year in February on MLS. -There continues to be a higher demand than supply of housing in British Columbia with a total 8,902 sales on MLS in February. -We can continue to expect interest rates to rise with the next interest rate announcement being April […]