Sep 062013
 

Real Estate Sales Strong Despite Higher Mortgage Rates

Yesterday we just saw the yield on the 10 year US treasury climb to 2.99%, a multi-year high, and mortgage rates are starting to creep up. But houses are still being sold with unimpeded fervor in many parts of Canada 😎 The number of homes sold in Vancouver was 52% higher last month than the same period in 2012. 28% higher in Calgary year over year. 10% higher in Edmonton, and 21% higher in Toronto. Holy guacamole! 😮 This is good news for myself and the other 69% of Canadians who are homeowners because it means there is still lots of transactions and liquidity in the real estate market. How to profit from this trend? Buy a home 🙂 People told me to wait for the bubble to pop when I was looking to buy a condo back in 2009. Fiddlesticks! If I had listened to them my net worth would not be even close to $187,000 today 😛  Continue reading »