interest rates

Bank of Canada Holding Steady

There is talk of housing bubbles again in many of Canada’s hot real estate markets.  With interest rates still at an all time low, the feeling is that many are borrowing now to finance a home purchase but will not be able to afford the rates once they rise.    However, the Bank of Canada confirmed this week that it will not raise rates to cool off the hot housing market while the economy in general is still in recovery.  Read more at http://www.financialpost.com/news-sectors/economy/story.html?id=2458992#ixzz0dB8fwMXh

Whistler’s market has shown some positive signs particularly in the last half of 2009.   Since July, overall sales volume was up (albeit slightly) over the same period in 2008.  It certainly remains to be seen what sort of long lasting effect the Olympics will have on our market but if this trend continues in 2010 the outlook is positive.  Attractive interest rates will remain a great incentive for those planning on a Whistler purchase.  Variable rates are currently as low as 1.95%.  Check out Garibaldi Mortgage for more information.