Economy Blogs

Economy Blogs · 19. December 2018
After accurately forecasting the rise in mortgage rates since the summer of 2017, the BCREA Mortgage Forecast for December 2018 is suggesting there may be a pause in the increase of interest rates. BCREA states in the forecast: "Midway through 2018 everything seemed to be pointing to sharply higher mortgage rates. The Canadian economy was soaring, the Bank of Canada and its counterpart in the US were resoundingly hawkish and bond yields were testing multi-year highs. However, declining oil...
Economy Blogs · 07. December 2018
BCREA announced that the Bank of Canada elected to leave its overnight rate at 1.75% rather than continuing the Bank's objective to "normalizing" its policy rate to between 2.5% and 3.5%. Reasons cited for the decision included that the economy will be challenged by Alberta's cutbacks in oil production. Other factors include the announced shutdown of GM's Oshawa plant, slowing housing market across Canada and a potentially sharp slowdown in US economic growth next year. Given these factors and...
Economy Blogs · 22. February 2018
Within the 2018 Budget announced February 21st, is a section titled Homes for BC. This includes "a 30-point plan for housing affordability in B.C." Minister of Municipal Affairs and Housing, Selina Robinson, states; "Home prices didn't spike overnight, and our housing problems can't be fixed with a single budget. It will take years of sustained action to bring housing affordability home." In a release BCREA disagrees that these moves will bring stability to the markets. Here they note the...
Economy Blogs · 17. January 2018
After years of warning that interest rates will increase, that finally started to happen in the in 2017 and really took hold the last half of the year. On January 17, 2018 the Bank of Canada announce its third 25 bases point increase in its overnight rate bringing it to 1.25%. Bond yields have been on the rise as well, affecting long term fixed mortgages.

     About Gerry                                         Service and Integrity Above All

Information and Interpretation
Selling or buying real estate is a major financial endeavour with many factors to consider. While you have a wealth of information available to you on the internet, interpreting that information is another matter.

This is where I come in. Not only do I research and provide you the information you need, I take it to the next level and analyze and interpret that  information for you. I will tell you what I think, what we do is up to you.

As a client, your Realtor works for you, and this is a principle I hold dear.  I see my job as providing you with information, interpretation, services and guidance, not to push you on a course of action.

Unparalleled Service
I have a simple code, I don't sell, I service. I assume my clients are perfectly able to make their own decision once they have the information they need. I spend my time providing information, guiding people through the process, and making sure all the bases are covered, not in high pressure sales.

Over the years I have received very complementary feedback from clients. See Client Feedback.

Integrity, simply defined, is being honest and fair. This is further enhanced by one of a Realtor's prime duties, which is not to put anyone's interest above their clients, including their own.  This a duty I take very seriously. My personal outlook after over 30 years in business, is that whenever I experience high pressure sales I start to question the integrity of the person selling me.  Are they looking after my best interest or theirs?

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Gerry Chwelos, REALTOR®


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