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Currently, Canadian mortgage rates have remained stable, providing relief after a surge in the past two months. There is an increasing interest in five-year fixed rates, which is the most popular option with 71% of recent rate searches. The direction of rates will largely depend on the U.S. Federal Reserve's upcoming decision. If this rate…

The estimated income-to-expense ratio in BC is 1.2. The cost-of-living is estimated to be ~$79K/yr. The median annual household income in the province is ~$98K.

Avg asking price for a rental unit in Canada reached a record high of $2,042 in June. Yearly rent inflation for June was 7.5%, lower than the double-digit growth seen in 2022 and early 2023. Rents ↑ 1.4% MoM, the fastest monthly increase so far in 2023.

Mortgage delinquencies in B.C. remain low despite rising interest rates, high mortgage payments and financial pressure. The provincial mortgage delinquency rate of 0.11% for the first quarter of 2023 is the lowest ever recorded and foreclosure cases have decreased by 11.4%. Despite this, credit card and car payment data is signaling increasing financial pressure and…

Fort St. John offers favourable income-to-home price ratios, making it an attractive area for affordable homeownership. Create a budget to evaluate income and expenses, and use budgeting apps like Mint to track spending habits. Set a savings goal for a down payment and establish automatic transfers to a dedicated savings account.