March 2023 Bank of Canada Rate Update The Bank of Canada did NOT increase or make changes to current rate! In todays announcement the bank kept good on its promise to hit a "pause" button for now on the campaign to raise rates to beat inflation. This decision reflects that its strategy on rate increases to reduce inflation is having a desired effect. While the majority of economists expect that the rate will remain unchanged for the remainder of the year, the Bank still expresses it " is prepared to increase the policy further" IF required to restore inflation to its 2% target. If your mortgage is coming up for renewal, short term rates are remaining the best options. The reason is with potentially lower rates and a likely recession in the horizon, a

3 Mistakes To Avoid When Getting your home ready to put on the market

 Preparing your home for sale can be a complex mixture of decision-making and multi-tasking the various projects that need to be done in a hurry.The key to success is not the upgrades you've chosen to undertake but to know what buyers in your neighborhood are looking for when they walk through your home.As an experienced local agent, I work with buyers every day and understand what gets them excited. I'd be happy to help you identify the projects that give you the best chance of maximizing the value of your home and the mistakes to avoid. These include:

1. Don't convert a bedroom – Resist the temptation to switch a bedroom into a home office or any other kind of

Sellers who prepare their homes properly for sale can still get a great price. On the other hand, buyers can find good deals if they're patient and diligent.Below are some key questions to be answered as you prepare to purchase property or make a sale. Your agent should know the answers and be able to counsel you on the best approach in your local market conditions.

1. How do values compare with 12 months ago for the size and style of property in this neighborhood? In a nutshell, this answer will illustrate whether the local market is holding its value.

2. How many properties are on the market locally compared with historical averages? If the neighborhood is awash with homes for sale, price ambitions will suffer. However if there is a lack of supply

So… Christmas Parties have already gotten the best of me and I missed sending this out on Friday.

As you know Prime went up by 0.50% last week.

Here is the info we sent to clients who are currently in a variable rate mortgage.

The Bank of Canada raised their key interest rate by .50%.

The Bank of Canada has raised their key interest rate by 0.50%, now at 4.25%. This is the first time the Banks rate has hit or surpassed 4% since 2008. This is the 7th consecutive rate jump, and although this move was anticipated, it was uncertain if it would increase by a quarter or half point. With inflation dropping to 6.9% in October, and core inflation still being around 5%, the move to an oversize half a point suggests that this increase is perhaps an