The writer is a mortgage broker in Vancouver. His area of specialty is bad credit mortgage applications. The writer is well versed with the bad credit mortgage lenders in Canada.
The Canadian dollar is gaining in strength against the American dollar. The concern is that Canada is an export based economy. The rising dollar will have a negative effect on business in the Canada.
What does this mean for the Vancouver real estate market. The impact will be significant. The BC economy is export based. The primary drivers of the economy, commodities, will be reduced due to the higher cost of the Canadian dollar.
What should you do if you want to jump into the current market. Plan carefully, I see another drop of at least 10 points in the housing market in the next 9-14 months.
Bargin in good faith but be firm. No seller wants to feel that they are being taken advantage of.
Vancouver mortgage insight is provided by Duncan Seward a registered Vancouver mortgage broker with TMG. He helps clients in North Vancouver, Surrey, Vancouver, Coquitlam, Maple Ridge, Burnaby and Langley with their mortgage questions. He is an expert in BC mortgage matters. You can check out regular mortgage updates at his blog page Vancouver Mortgage Rates.
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Nice writing style. I look forward to reading more in the future.