Bank of Canada maintains overnight rate target at 1 per cent

OTTAWA – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

The global economic recovery is proceeding broadly in line with the Bank’s projection in its JanuaryMonetary Policy Report (MPR), although risks remain elevated.  U.S. activity is solidifying and remains supported by stimulative fiscal and monetary policies.  Ongoing challenges associated with sovereign and bank balance sheets will limit the...

I just sold this Apartment at 114 750 E 7TH AV, Vancouver, BC Mount Pleasant.

View this recently sold Apartment or see all my home sales

As a Port Moody REALTOR®, I am often asked about other area specialists. I would like to introduce you to Desiree & Kelly of threesixty Financial Group. They are a Port Moody-based insurance duo who you need to know! threesixty offers life, mortgage, critical illness, disability, corporate, travel and long term care insurance.

I recommend following along with their blog, where they have recently covered great topics such as:

Get free money just by contributing to your RRSP!

Is your man your retirement plan?

Expect the best, plan for the worst.

Check them out at www.threesixtyfg.ca! 

No Property Transfer Tax
* Purchase must be less than $425,000 (up to $6,500 in savings)

Home Buyers Plan (HBP)
* RRSP withdrawal to assist with first home purchase
* Just increased in 2009 to $25,000/person or $50,000/couple

1st Time Home Buyers Tax Credit
* Up to $750 tax credit to help with closing costs

Buyer's Realtor
* Buyer's don't pay for REALTOR services - the Seller pays

Say NO to Boxes
* Get a discount on environmentally friendly reusable moving crates

The REBGV has released the statistics from January 2011. It seems the market started off the new year quite balanced with buyers and sellers, with a slight decrease in overall sales. 

Stability and regional ‘hot spots’ characterize 

January housing market 

The Greater Vancouver housing market remained in balanced market conditions in January, although higher levels of buyer demand were seen in some of the region’s largest communities.
 

The number of properties listed for sale and those sold on the Multiple Listing Service® (MLS®) last month outpaced the 10-year average in both categories for January.
 

“There was a healthy balance between the number of home buyers and sellers in our market in January, but there’s always variation in activity from region to region,” said Jake Moldowan, president of the Real Estate Board of Greater...

We are lucky to live in the Tri-Cities. Throughout the year there are a lot of great events in Port Coquitlam, Coquitlam and Port Moody. Festivals, performances - there's something for everyone.

I'm happy to see that Sunday Coffee concerts are back in Port Coquitlam at the Terry Fox Theatre. These great concerts feature talented performers in all types of genres, including country, classical - even gospel. There are some excellent artists coming up, including Felice Women's Choir, Karen Flamenco, and the VOC Sweet Soul Gospel Choir.

Check back to their website often to see who is playing each week. Or you can sign up to the Port Coquitlam e-update for updates. 

I just sold this House at 226 Jensen St, New Westminster, BC Queensborough.

View this recently sold House or see all my home sales

I just sold this Condo at 1208 108 CORDOVA West Street, Vancouver West, British Columbia Downtown VW.

View this recently sold Condo or see all my home sales

On January 17th, Finance Minister Jim Flaherty announced three new changes to Canadian mortgage qualifications. They are as follows:

1. A 30 year maximum, down from 35 years, amortization on insured mortgages (down payment of less than 20%)

2. An 85% Loan to Value limit on insured refinances

3. Elimination of government insurance on secured lines of credit (aka HELOCs)

The goal with these new Canadian mortgage rules is to help stabilize Canada's long-term housing market and to encourage hard-working Canadians to save by investing in their homes. 

Full press release details can be viewed here.

What do you think of the new mortgage rules?

Bank of Canada maintains overnight rate target at 1 per cent

OTTAWA –The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

The global economic recovery is proceeding at a somewhat faster pace than the Bank had anticipated, although risks remain elevated. Private domestic demand in the United States has picked up and will be reinforced by recently announced monetary and fiscal stimulus. European growth has also been slightly stronger than anticipated. Ongoing challenges ...

I just finished uploading this House for sale, 1349 Oxford St, White Rock, BC

This lovely hillside home offers spectacular unobstructed ocean views from both floors! If you're looking to downsize, upsize from a condo or find the perfect view lot to build your dream home, this is the place for you. Both patios are made for entertaining, along with an open living, dining and kitchen upstairs. Downstairs features a large family room, office, laundry/storage and plumbing/electrical for a kitchen. Turn-key and truely a wonderful blank canvas to work your design magic. A welcoming home, fabulous location and a wonderful opportunity for Buyers or Investors looking for a lovely view property with options.