In this week of Christmas festivities I wanted to take the time to wish you a Very Merry Christmas.



Wishing you ALL the best of the season!


Season's Greetings!


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Home resale activity continued to be within a constructive range in Canada in November, remaining essentially flat from October and still up notably from a fairly weak level in November 2012. The latest batch of statistics released today by the Canadian Real Estate Association (CREA) is consistent with our view that the vigorous rebound in home resales since spring has largely run its course and that activity will stabilize near recent levels in the short term.


Following a seven-month stretch of monthly gains from March to September, and a 3.3% decline between September and October, November 2013 resales came in just 0.1% below the October tally. Resales in Canada still tracked higher than year-ago levels; however, the rate of increase moderated to 5.9% (from a recent high of 18.2% in September). The level of activity in November was essentially on par with the 10-year average (exceeding it marginally by 0.7%), thereby indicating that the market is sustaining a pace that is neither too hot nor too cold. On a year-to-date basis, home resales were effectively flat (edging 0.2% higher) from the same period last year, reflecting a very slow start to 2013.


At the national level and in the vast majority of local markets, demand-supply conditions continued to be balanced for the most part despite a 1.8% rise in new listings overall in Canada between October and November. Nonetheless, earlier tightening of market conditions in a number of markets (including Calgary and Toronto) this summer led to further acceleration in home price increases in November. The composite MLS HPI rose 4.1% from November 2012, representing the strongest annual gain since July 2012. Calgary and Toronto contributed most to this annual increase.


Faster-rising prices, while still reasonably contained at this stage, represent a risk to housing affordability if the current trend persists too long. We believe, however, that upward pressure will diminish in the period ahead as the earlier strength in homebuyer demand continues to partly unwind and that supply of homes (consisting increasingly of condos) available for sale continues to grow. We suspect that the run-up in resales during the summer and early fall included purchases made by many buyers who advanced their decision to buy in order to lock-in lower mortgage rates. We expect that some further modest pullback may occur in the months ahead as payback for sales that may have been advanced.


Link to the full report here.


Till next time ...


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Before you start house shopping there are a few things about getting a mortgage that are very important for you to consider:




  • what can I afford
  • will i get pre-approval


According to "Affordability is based on the household income of the applicants purchasing the house, the personal monthly expenses of those applicants (car payments, credit expenses, etc.), and the expenses associated with owning a home (property taxes, condo fees, and heating costs)."

Here is a great tool for you to determine how MUCH you can afford!  Thank you again, for this great tool!


``Lenders look at two ratios when determining the mortgage amount you qualify for, which generally indicate how much you can afford. These ratios are called the Gross Debt Service (GDS) ratio and Total Debt Service (TDS) ratio. They take into account your income, monthly housing costs and overall debt load.``

If you do not know a mortgage broker yet, please let me know and I will introduce you to one of my recommended and trusted colleages to help you with your mortgage questions.

Till next time ...

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HomeLife's $10,000 Sweepstakes

Absolutely Free No Obligation




Please complete the ballot here for your chance to win!


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The British Columbia Real Estate Association (BCREA) reports that a total of 5,490 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during November, up 17.3 per cent from November 2012. Total sales dollar volume was 36 per cent higher than a year ago at $3.06 billion. The average MLS® residential price in the province was $557,586, up 15.9 per cent from November 2012.


"While home sales were up year-over-year, they eased back from October as slow economic growth and anemic job creation negatively impacted consumer demand." said Cameron Muir, BCREA Chief Economist. "Low mortgage rates, however, continue to remain accommodative to housing demand."


"Average prices were skewed higher last month as the composition of sales in Vancouver and the Fraser Valley tilted toward single-detached homes," added Muir. "The MLS Home Price Index points to relatively stable prices, with the year-over-year change up 1 per cent in Vancouver and down 0.4 per cent in the Fraser Valley."


Year-to-date, BC residential sales dollar volume was up 10.1 per cent to $36.7 billion, compared to the same period last year. Residential unit sales were up 6 per cent to 68,510 units, while the average MLS residential price was up 3.8 per cent at $535,411.


See more here.


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Providing you with useful mortgage information is something I like to be able to do for you.


Here is an article from the Globe and Mail online that I just had to share with you. 


"When it comes to interest rates, most of the attention is on the Bank of Canada’s overnight rate, which governs short-term lending. But it’s long-term fixed income rates that have the most affect on people’s wealth. Rising five-year, 10-year and 30-year yields impact everything from mortgage rates to portfolio returns.


Unlike the overnight rate, which the Bank of Canada is responsible for moving, the long-term rates shift based on what’s happening around the world."


Many people still think that the lowest rate is the best deal.  That is not always the case.  Getting the best mortgage deal that fits you and your lifestyle is a very delicate business and should be dealt with by a professional. 


If you are in need of a mortgage professional I have a few that I like to recommend, so please don't hesitate to ask me.


Till next time ...


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Happy Holidays!


Here are some suggestions for what to do during the Christmas holidays in Abbotsford.



For another list of things to do in Abbotsford over the holidays click here.


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Today's Christmas ideas are coming in the area of entertaining, and more specifically ... FOOD!



We love to entertain over the Christmas period, family and friends galore, so I'm always looking for new recipes and things to try. 


I found this on YouTube and the recipe looked SO deliscious that I had to share it with you!


I have not tried these yet but would love to!  If you have tried them already leave me a comment as to how they turned out!  Without further delay ... Chicken Wing Lollipops!



Good old Jamie Oliver and his team!   Always coming up with the most delicious ideas and recipes!


Wishing you all a wonderful weekend!


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Thanks to, a few surprising numbers surrounding some of the trends in Canadian mortgages:
 Spending and Saving Infographic

Till next time ...

For purchase, renewal and mortgage refinance rates, visit
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BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the October 2013 statistics.



"The fall housing market is shaping up to be the most active in four years," said Cameron Muir, BCREA Chief Economist. "Persistently low mortgage interest rates and an element of pent-up demand have driven home sales higher in the province's large Lower Mainland and Vancouver Island markets."


"While the rebound in consumer demand has been significant, home sales are trending near the long-term average and any continued acceleration will depend on stronger economic and employment growth," added Muir.


See more here


Till next time,


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