Ravi Punia - REALTOR®

Fraser Valley Specialist

FRASER VALLEY REAL ESTATE BLOG POSTS

Money is Cheap

Interest rates are at or near historical lows.  This means we are seeing some of the cheapest mortgage rates ever seen.  Mortgage rates at or near the 2% mark are readily available, for qualified buyers.


The availability of cheap mortgage money, for those who can access it, has greatly improved purchasing power versus the past couple of years, when rates were meaningfully higher.


If you feel that your job or employment situation is secure and you're in a good financial position, buying a home right now may be a great move.  The Fraser Valley markets offer great relative value.  Viewing homes is possible in a fairly safe manner again, with the right precautions.


See: Real estate industry emerging from COVID-19 but new reality anything but normal


Besides the extra health precautions necessary when looking at homes, perhaps one of the bigger challenges for home buyers is a relatively smaller pool of listings available, compared to more 'normal times'.  Naturally, many potential home sellers are in a wait and see mode, hunkering down in place, while we ride out the pandemic.  So fewer homes are on the market right now.


Still, with enough patience, and having your financing needs pre-arranged, it's a great time to house hunt in the Fraser Valley markets like Surrey, Langley and Abbotsford.  There is good value to be had and you can stretch your dollar further here.


I highly recommend that you get pre-approved by your lender if your're in the market for a house, townhome or apartment.



*This blog communication is not intended to cause or induce breach of an existing agency agreement.  Views are my own and do not reflect those of any organizations that I may be associated with.

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.