August, 2019 RSS Icon
Found 2 entries for August, 2019.

Fraser Valley home sales heat up this summer

Home sales in the Fraser Valley rebounded in July after what was classified as a lackluster market in June. There was a significant increase in home sales, which when combined with a slight decrease in new listing inventory, created a spike that helped rebound the market.

July 2019 saw 1458 sales in the Fraser Valley, taking into account all property type MLS® real estate listings. This was an 11.6 percent increase in sales when compared to June 2019 and 13 percent over sales in July of 2018.

It was an increase that was to be expected after one of the worst June real estate markets in almost 20 years. This is news that is welcomed by both buyers and sellers in the area. A return to a more balanced

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Those entering into a mortgage will hear the words “mortgage stress test”. Those words may be enough to stress you out. After all, for some it might mean qualifying for a smaller mortgage than anticipated.

The stress-test applies to homebuyers, regardless of how much money they are putting down and is another hurdle to cross when looking to purchase a house. It’s an indicator that lets the lender know how much ‘stress’ you can handle when it comes to your mortgage payment.

If mortgage rates were to increase, can you continue to make the payment?

That is a question you should be asking yourself, too. And, it is why many will advise buyers to not purchase the most expensive home they can afford, but rather find a mortgage payment amount they are

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