Bubble

The housing market has been staying busy with the threat of further interest rate increases. Buyers are jumping into the market and taking advantage of low rates while they last. We are not expecting to see the Bank of Canada move the Prime rate until well into 2014 and the Governor of Canada Stephen Poloz came out this week and said, "I don't perceive that there is a bubble in the Canada's housing market". I am certain the media will continue to insist on the mystical bubble existing but overall, the Bank of Canada is optimistic about the economy. If you are wishing to buy a home prior to the end of the year, now is the time to act. Getting pre-approved will offer you information on your purchasing power as well as hold rates for you until January. Give me a call to explore numbers today!