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%).
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.