Aside from the fact that mortgage qualification rules have tightened, which can be seen as a very positive move, it is still a good time for first time home buyers to be looking.
The market has softened as we expected, but is stabilising which is a key indicator of some confidence returning and most importantly, interest rates are all but static.
Despite the rhetoric of the past two years that we were set to see a rapid rise in interest rates, it appears as though the finance sector has acknowledged that we are not dealing with runaway inflation.
At some point we may, but if ever that happens, I don’t believe it is an immediate problem. Too much money is still not in circulation and until it is, serious inflationary problems are simply a dream.
Good real estate values abound in the Okanagan for the patient buyer and offer everything from a simple start up floor plan for a young couple through to larger single family homes with additional space for rental as a mortgage helper.
Whatever your preference, contact your REALTOR® to get the best advice on how to approach buying your first home.
Read more The Accidental Journey articles
The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet presents its columns "as is" and does not warrant the contents.
- It may be illegal to print money! Mar 14
- Inspired by Matthew McConaughy Mar 7
- Preparing for the BIG WIN Feb 28
- The freedom to lose Feb 21
- Busy people get things done! Feb 14
- Happiness is a state of mind Feb 7
- The tipping point Jan 31
- Getting healthy Jan 24
- When enterprise is no longer free Jan 17
- Marketing with a cause Jan 10
- A vanishing perspective Dec 6
- Stand out! Nov 29
(Click for RSS instructions.)