Skip to Content

Monthly Archives: June 2012

HARPER GOVERNMENT TAKES FURTHER ACTION TO STRENGTHEN CANADA’S HOUSING MARKET

Written on June 24, 2012 at 11:26 am, by

Recently the Minister of Finance announced changes to the standards governing government-backed insured mortgages: the maximum amortization period was reduced from 30 years to 25years; the maximum amount Canadians can withdraw in refinancing their mortgages was lowered to 80 per cent from 85 per cent of the value of their homes; the maximum gross debt  Continue Reading »

MAY 2012 REAL ESTATE MARKET IS PICKING UP IN GREATER VICTORIA

Written on June 3, 2012 at 8:41 pm, by

Consumers are showing confidence in the Greater Victoria real estate market, evidenced by a spike of 71 residential sales in May 2012 over the previous month. “During the last two or three months, we’ve seen many potential buyers out looking,” says Carol Crabb, President of the Victoria Real Estate Board. “During May, they made their  Continue Reading »