New Mortgage Rules Announcement

February 16th, 2010
This morning, Federal Finance Minister Jim Flaherty announced prudent changes to mortgage insurance rules intended to come into force on April 19, 2010. CAAMP was actively engaged in the discussions around these changes which are as follows:
  1. All borrowers must meet the standards for a five-year fixed rate mortgage even if they choose a mortga ...

February Market Update

February 9th, 2010

February Market Update

Despite the recession, BC's luxury home market remained strong in 2009. Based on the Greater Vancouver Real Estate Board MLS stats, 31 homes priced over $5 million sold in 2009 versus 25 that sold in 2008. What's more remarkable is that none of these sales occurred in the first 1/3 of the year, when the world's financial markets were seemingly in freefall. Take t ...

Housing supply and demand reach closer alignment in January

February 3rd, 2010

Diverse selection and favourable interest rates continue to drive demand in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 1,923 in January 2010, an increase of 152.4 per cent compared to January 2009 when 762 sales were recorded and a 23.5 per cent decline compared to the 2,51 ...