Inflation in September 2021 hit 4.4% - the highest level on record since 2003 and Bank of Canada expects that inflation could soon reach 4.8%. Bank of Canada Governor, Tiff Macklem, indicated that inflationary pressure could lead to the Central Bank raising rates by Spring of 2022 with possibly even more to come. A jump in energy prices and pandemic- related supply chain pressure, the main reason inflation continues to trend higher now appear to be more tenacious than expected. For homeowners, with these rate hikes on the horizon, is now the time to lock in a fixed mortgage rate? Obviously, nothing is guaranteed however If your thinking is in line with those who feel that rates will head up next year then locking into a fixed rate mortgage will offer some peace of mind. Trying to make sense of your real estate numbers? Get the advice you need!
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Realtors across the Lower Mainland raised more than $134,000 for Canadian Red Cross disaster relief efforts in B.C.
During the two-week campaign, members of the Real Estate Board of Greater Vancouver and Fraser Valley Real Estate Board also collected enough blankets and warm clothing to help keep thousands of residents warm during the winter months.
“Realtors are community advocates and our communities are in need right now,” says Taylor Biggar, REBGV chair.
With the provincial and federal governments each committing to match flood relief donations to the Red Cross, dollar for dollar, this year’s Blanket Drive fundraising effort will result in a total donation of $403,899.