Ravi Punia - REALTOR®

Fraser Valley Specialist

FRASER VALLEY REAL ESTATE BLOG POSTS

Mortgage Debt Still Rising

Some mixed news in the the news article below regarding Canadian debt levels.  On the positive side, credit card balances that our citizens are holding is down year over year.  Perhaps somewhat concerning, mortgage debt continues to trend up (i.e. higher by 5%).


See: 


Canadians, once world leaders in household debt, are putting away their credit cards


Many home buyers are being enticed by record low mortgage rates.  5 year money can be had for under 2%.  This is reigniting the housing market, especially in the Fraser Valley, which saw a booming July for sales.


Our markets here in the Fraser Valley, including Surrey, Langley and Abbotsford, offer great relative value for would-be buyers.  Prices here are lower than places like Vancouver and Burnaby and you typically get a significantly larger home or property, dollar for dollar.


If you are in the market for a house, townhome or apartment in the Fraser Valley, I would love to be of assistance to you.  I can share some great options that meet your criteria.



*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.

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