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16 February 2010
Mortgage Rules Have Changed. Effective April 19th
Govt. of Canada changed some mortgage rules today to make it a little harder to get a new mortgage or refinance an existing mortgage. There are 3 changes in rules aimed at home buyers, investors and borrowers who may be planning to refinance. Home buyers Read More...
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21 December 2009
You may need more down-payment next year.
Canadian Govt is considering plans to make it harder for Canadian to buy a home. Finance Minister Jim Flaherty says that conservatives in Ottawa may tighten mortgage eligibility rules to avert a possible housing bubble. The government and Bank of Canada Read More...
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11 November 2009
Court sides with consumers, home inspector ordered to pay for negligence
Last April it became mandatory for anyone offering house inspection services in BC to be licensed and this week a home inspector was ordered by a BC supreme court judge to pay nearly $200,000 in compensation to his client. The BC supreme court's decision Read More...
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04 November 2009
Abbotsford Homes Sales Monthly Report: October 2009
Buyers moving in from Greater Vancouver and first-time buyers from all over the Lower Mainland taking advantage of competitive interest rates and lower prices in the Fraser Valley were the driving force behind strong home sales in October. Although Fraser Read More...
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04 September 2009
Abbotsford Homes Sales Monthly Report: August 2009
After a very hot July home sales in Fraser Valley set another record in August recording the second best August for home sales. Buyers powered by historically low interest rates and driven by the desire to move up the value chain drove the home sales Read More...
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02 August 2009
No more interest free loans for leaky condos in BC
Owners of leaky condominiums in British Columbia built poorly during the building boom of the late 1980s and early 1990s would no longer be eligible for government funded interest free loans to repair their buildings. The B.C. government has put an end Read More...
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31 July 2009
What HST means for BC real estate
The BC government announced on July 23, 2009 that effective July 1, 2010, BC will adopt the HST, combining BC's seven per cent PST with the five per cent federal GST for a single "harmonized sales tax" of 12 per cent. Starting next July, Read More...
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26 July 2009
Changing Lockboxes - Supra to SentriLock
Fraser Valley real Estate Board will be changing lockbox suppliers to the REALTOR®-owned company Sentrilock. This change is scheduled to occur when the Board’s contract with the current supplier, GE Supra, expires this October. The Greater Vancouver Read More...
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23 June 2009
Abbotsford neighborhood in top 10 hot spots
Abbotsford neighbourhoods scored #8 on the list of hottest neighborhoods in lower mainland in a recent study. This study conducted for real estate firm Century 21 Canada was focused on finding the 21 hottest neighborhoods in Canada for realizing real Read More...
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04 June 2009
Interest rate unchanged
The Bank of Canada kept its key lending rate at a historic low. The decision to leave borrowing rates unchanged came as no surprise because the central bank said in April it would leave the overnight rate at 0.25 per cent until the middle of next year, Read More...
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31 May 2009
Drainage user fee plans halted
The tax proposed to help generate $850,000 to improve drainage services in rural upland areas of Abbotsford is on hold for this year at least. A group of rural Abbotsford residents are work with the city to get a proposed rural upland drainage fee taken Read More...
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21 April 2009
Prime Rate Hits Lowest Level in History
The Bank of Canada cut its key lending rate to another record low today. The target rate for overnight loans between commercial banks is reduced to 0.25 percent, the lowest since Canada's central bank was founded in 1934 and the lowest it can go. Read More...
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28 January 2009
Budget 2009 Highlights For Housing Market
The federal budget released for 2009 contains a few items of interest to homeowners and people who are thinking about buying a home. Here are some highlights: RRSP Home Buyers' Plan: Starting from January 28, 2009, first-time home buyers can withdraw Read More...
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21 January 2009
Bank of Canada Makes History - Prime Rate @ 3%
The Bank of Canada has cut its main interest rate by half a percentage point to one per cent - lower than in 1958, when the most-watched policy rate was 1.12 per cent. This cut brings key interest rate to the lowest level in Canadian history. Shortly Read More...
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09 November 2008
New Housing Market Forecast
A 25 per cent increase in Abbotsford housing starts this year has increased new home inventories while the demand is declining. A larger inventory of new homes and tough mortgage conditions are expected to reduce new home construction in 2009. Housing Read More...
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