Rosemary Papp

With over 35 Years Local Experience to Serve You

778-834-8021

 
Back to Blog

The decision to buy a house is the biggest financial decision most people will ever have to make, so it's no surprise that it can also be one of the most stressful decisions too. So, is now a good time to buy or sell, or should you wait?

Concern about the spiraling cost of real estate in some parts of the country has prompted predictions of an impending correction in the country's housing market.

Responding to that speculation, Canada's finance minister, Joe Oliver, has expressed his opinion that, as he continues to monitor the rising housing prices closely for signs of overheating, he is "not especially worried."

"I'm monitoring it regularly, but the Bank of Canada as well as the Central Mortgage and Housing Corporation, which is the organization that insures most of the Canadian mortgages (about 70 percent) both feel we're looking at a soft landing," comments Oliver.

If you're selling, you'll want to get as much as possible for your own home, but then of course not have to overextend your finances for your next property. And that's where today's low interest rates can be the buying motivator.

Many feel they can't pass up the opportunity to take advantage of today's historically low financing rates, which can allow carrying a mortgage to be comparable to paying rent in some areas.

What's the right move for you? Let's talk about your own specific circumstances. Please call for a no-obligation discussion today!

Comments

No comments

Post Your Comment:

*indicates required fields.
Your Name:*
Please note, your email will not be shown publicly
Your Email (will not be published):*
Comment:*
Please type the text as it appears above:

Subscribe to The Rosemary Report

* indicates required
Direct: 778-834-8021
Toll Free: 1-888-707-3577
Rosemary's Email: rosemary@homesinlangley.ca
RE/MAX Treeland Realty
#101 - 6337 198 Street
Langley BC V2Y 2E3
www.HomesinLangley.ca