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MORTGAGE RATES SET TO RISE IN FOURTH QUARTER

The Canadian mortgage market is undergoing significant tightening with the availability of credit falling and interest rates rising. The mortgage stress test introduced in January negatively impacted home sales nationwide as prospective homebuyers with more than 20 per cent down payments were denied access to loans they would have qualified for under the old regulatory regime. As a result, mortgage credit growth in Canada has slowed dramatically. For full article click here

August Home Sales Suggest Impact of Stress Test Fading

“The downturn in housing demand induced by the mortgage stress-test is now largely behind us,” said Cameron Muir, BCREA Chief Economist. “The BC housing market is evolving along the same path blazed by Ontario and Alberta, where the initial shock of the mortgage stress-test is already dissipating, leading to increasing home sales.” This is good news for home buyers! Click here for full article

New Listing in Fairview - Check it out!

Meticulously maintained and tastefully updated 4 bedroom 2.5 bathroom family home on a beautiful 50 x 120 lot in the heart of Fairview. The bright cheery main floor of the home offers the living room with new hardwood flooring, the large master bedroom with newly constructed ensuite bath, another full bath and the renovated kitchen with adjoining lofted great room/family room with an amazing picture window to take in the views of the mountains and lake. Patio doors off the kitchen lead to a huge outdoor deck extending the living and entertaining area of the home. Upstairs you will find 2 more bedrooms and plenty of storage. Downstairs leads to a 4th large bedroom, flexible workshop/multi-pur

 

​JOHN KNOX - REALTOR®/OWNER, President  | Fair Realty | Nelson, BC | (p) 250.777.2500 | (e) john@johnknox.ca

© 2010 - 2018 by John Knox Personal Real Estate Corporation  | Photo of Nelson courtesy of Dave Loewen