In one of the most optimistic reports I have read, Central 1 Credit Union is forecasting record sales and pricing on BC housing for 2010. They anticipate sales to increase 30% and the annual median price to rise to a record $391,000 in 2010. The driver of this, as in many reports and forecasts, I
The Bank of Canada today kept the key lending rate at 0.25% as forecasted. However, more importantly it continues to maintain its conditional commitment that they will not raise rates until the second quarter of 2010. This is welcome news to everyone in variable rate mortgages or have outstanding amounts in their lines of credit.
Even though Mortgage Brokers now originate about 30% of all mortgages in Canada many people still don’t understand what we actually do. Amazingly, many clients when they first talk to me think Mortgage Brokers only deal with people with bad credit and that we charge huges fees. Yes, we do assist people to get back
