With interest rates and housing supply increasing North Vancouver home buyers are operating in a changing market place. Let’s take a closer look! MLS® stats show North Vancouver had 174 home* sales in July 2022. This is a -30% decrease from this time last year (YOY) and is -20% below North Vancouver’s 10 year monthly…
Chartered banks recently raised their posted mortgage rates in response to higher bond yields. A home buyer with less than a 20 per cent down payment is required by the federal Office of the Superintendent of Financial Institutions (OSFI) to obtain an insured mortgage and pass a stress test. This stress test adds an additional…
BC’s provincial government recently introduced a home buyer protection period, the details of which are outlined in a new regulation that allows home buyers to back out of a residential purchase up to three business days after signing a contract. The government will begin to enforce this regulation starting January 1, 2023. The province claims…
