June 02, 2021 at 2:45pm | Kelvin Behrens
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The Hardest Working Agent in the Fraser Valley

I briefly touched upon the new mortgage stress test last week, but now it is official. Interest rate for the stress test has risen from 4.79% to 5.25%, or interest rate given by lender + 2%, whichever is greater. Now you're purchasing power has been diminished ever so slightly. So if you were near your max before when thinking of purchasing, that max has now been reduced.

Click here for more information on what the impact of this change will be.

Strong Finish

In the last week of May there was a strong surge of sales that happened which has propelled us to more sales than April even though for most of this month, sales were lagging behind April's pace. This is most likely a frenzy from buyers to lock into a home purchase before the now active higher stress test implementation.
 We still have high demand, however, we do have more inventory now and that's helping ease competition. With 40% more inventory over the last 3 months, buyers have had more options.

Click below for the complete report regarding the Fraser Valley Real Estate Boards statistics for May. 
 

>> Entire May Numbers & Reports <<


Looking for the hardest working agent in the Fraser Valley?
Call/Text Kelvin Behrens (604) 751-6836
 Or, email me here kelvin.behrens@gmail.com


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Kelvin Behrens, Realtor
RE/MAX Little Oak Realty
(604) 751-6836 

Homeowners need to sell their home for many reasons. It's not always about how much they will make. Upsizing, downsizing, relocating, or simply off-loading current assets. If you are wanting to sell or thinking you will be selling soon, please click on the button below to get started with a FREE, no obligation Home Evaluation.
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I look forward to working with you now or in the future...
Kelvin

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Kelvin Behrens Real Estate brokered by RE/MAX Little Oak Realty
2630 Bourquin Crescent W #9, Abbotsford, BC V2S 5N7
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