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Penticton Real Estate News | May 2022

Penticton Real Estate News | May 2022

There’s just one month left in the spring season. Given that buyers prefer to move into their new home in the summer, now is the perfect time to get a mortgage. If you’re among this lot, you’re invested in the process and researching everything you need to know before contacting a mortgage broker. We’ve got you covered. Below is a breakdown of recent real estate news that current and prospective buyers in Penticton BC will be excited to learn.

Real Estate Updates for Penticton and the Surrounding Area that New Buyers Want to Know About

Read More »Penticton Real Estate News | May 2022

Bank of Canada Announcement (April 2022)

Penticton Mortgage Rates Update – April 2022

Penticton Mortgage Rates Update - April 2022

In last month’s Penticton mortgage rates update we detailed the recent (at the time) Bank of Canada announcement regarding the Policy rate. In March they increased the rate from .25% to .5%. We predicted that the Bank would once again raise the cost of borrowing incrementally through the months ahead, with another projected this very month (April). This morning (April 13) they did just that, with a move that the Financial Post and others are calling a super-sized rate hike. Is mainstream media being dramatic? More importantly, should new buyers reconsider getting a mortgage through the remainder of the spring and summer of 2022? Let’s review.

What Buyers Really Need to Know About the April 2022 Bank of Canada Policy Rate Hike

Read More »Bank of Canada Announcement (April 2022)

Penticton Real Estate News | Spring 2022

Penticton Real Estate News | Spring 2022

Penticton Real Estate News

Spring Break 2022 is in the books, and for many households in the BC Southern Interior it’s time to get back to #lifegoals, with homeownership being one of them. Traditionally, the season is prime for real estate, offering buyers enough time to get pre-approved on a mortgage, find their dream property, and move-in in time to enjoy the summer in the best place in BC. But does this spring in particular represent a good time to buy a home in Penticton and in the Southern Okanagan Valley? Let’s have a look at current real estate news to find out.

Recent Real Estate Updates for Penticton and the Surrounding Area that New Buyers Need to Know About

Read More »Penticton Real Estate News | Spring 2022

Bank of Canada Announcement (March 2022)

Penticton Mortgage Rates Update – March 2022

Penticton Mortgage Rates Update March 2022

Remember in our most recent Penticton real estate news update, when we encouraged buyers to act quickly before market forces increased the cost of buying a home? We named high demand for BC Southern Interior properties and a subsequently tightening inventory as key drivers of more costly mortgages. The other? The Bank and Canada’s overnight rate. We predicted that the Bank would raise the borrowing rate in 2022, and that prediction came true on March 2 when they made their scheduled announcement. The rate moved from .25% to .5%. But before you come into our Main Street office to smash our crystal ball, we want you to pause for just a second to put the news in perspective. Please keep reading.

What Buyers Really Need to Know About the March 2022 Bank of Canada Increase in the Prime Interest Rate

Read More »Bank of Canada Announcement (March 2022)

Penticton Real Estate News | January 2022

Penticton Real Estate News | Jan 2022

We’re three weeks into the new year. Now that you’ve shaken off the cobwebs from the Holiday season you’re ready to move forward with your plans to make your dream come true – home ownership. There’s nary a better place to make that happen than right here in the BC Southern Interior. But before you take steps on your own to get pre-approved on a mortgage, have a look at what’s new in the Penticton area real estate market.

Recent Real Estate Updates Regarding Penticton and the Surrounding Area that New Buyers Need to Know About

Read More »Penticton Real Estate News | January 2022

Bank of Canada Announcement (November 2021)

Penticton Mortgage Rates Update – November 2021

Prior to Halloween, the Bank of Canada concluded October with an announcement regarding the prime interest rate. If you’ve been following along on our Penticton mortgage news blog, then you know that the announcements have had little impact on mortgage rates and the real estate market over the last year. But things are a little different now. Economic growth is occurring, and while some uncertainty remains, it’s clear that far brighter days are ahead for 2022. So what’s new from the Bank of Canada that may (or may not) impact your decision to buy a home before the ball drops on 2021? Let’s find out.

What BC Southern Interior Buyers Need to Know About the November 2021 Bank of Canada Announcement Regarding Borrowing Rates

Read More »Bank of Canada Announcement (November 2021)

Penticton Real Estate News | October 2021

Penticton Real Estate News | Oct. 2021

Penticton Real Estate News

Every so often our mortgage brokerage embraces the responsibility of sharing recent Penticton real estate news. After all, seeing as you’re in the market for a home in the Southern Okanagan Valley it’s most certainly of interest to you. What’s new as we enter the fourth fiscal quarter of 2021? Is there anything on deck that should incite you to take action on your mortgage pre-approval? Let’s review.

Recent Real Estate Updates Regarding Penticton and the Surrounding Area that New Buyers Need to Know About

Read More »Penticton Real Estate News | October 2021