Kamloops Open Houses: Saturday and Sunday, January 23rd and 24th, 2016, Brocklehurst, Westsyde, Batchelor Heights, South Kamloops, Aberdeen, and Pineview Valley.

This weekend’s open houses will be held in Brocklehurst, Westsyde, Batchelor Heights, South Kamloops, Aberdeen, and Pineview Valley. Addresses, dates and times are included with each listing below. Contact us if you have any questions or would like to schedule a private showing.

768 Stansfield Road, Westsyde, Kamloops Home for Sale

768 Stansfield Road, Westsyde.

Sunday, January 24th, 2016: 1:30-3:00pm.

Listed for $364,900. Link to information about this home.

763 Hayward Place, Westsyde, Kamloops Home for Sale

763 Hayward Place, Westsyde.

Sunday, January 24th, 2016: 1:30-3:00pm.

Listed for $414,900. Link to information about this home.

740 Hayward Place, Westsyde, Kamloops Home for Sale

740 Hayward Place, Westsyde.

Sunday, January 24th, 2016: 1:30-3:00pm.

Listed for $419,900. Link to information about this home.

2027 Saddleback Drive, Batchelor Heights, Kamloops Home for Sale

2027 Saddleback Drive, Batchelor Heights.

Sunday, January 24th, 2016: 11:30-1:00pm.

Listed for $519,900. Link to information about this home.

815 Caroline Street, Brocklehurst, Kamloops Home for Sale

815 Caroline Street, Brocklehurst.

Sunday, January 24th, 2016: 1:30-3:00pm.

Listed for $319,900. Link to information about this home.

647 Laurier Drive, Aberdeen, Kamloops Home for Sale

647 Laurier Drive, Aberdeen.

Sunday, January 24th, 2016: 1:30-3:00pm.

Listed for $309,900. Link to information about this home.

28-1263 Kootenay Way, Windchimes MHP, South Kamloops Home for Sale

#28-1265 Kootenay Way, South Kamloops.

Sunday, January 24th, 2016: 12:00-1:00pm.

Listed for $168,900. Link to information about this home.

1970 Ash Wynd, Pineview Valley, Kamloops Home for Sale

1970 Ash Wynd, Pineview Valley.

Sunday, January 24th, 2016: 12:00-1:00pm.

Listed for $379,000. Link to information about this home.

To view all of our listings go to: Kamloops Homes for Sale.

Mortgage Rates Expected to Remain Steady Despite Recent Spree of Hikes, CBC News

This article appeared on the CBC News website on January 20th, 2016 and was written by Sheena Goodyear.

Canada Flag Real Estate Mortgage Rates InfoDespite a topsy-turvy mortgage landscape that has seen rates go up unexpectedly, don’t expect your monthly payments to skyrocket any time soon, economists say.

“I think that mortgage rates will remain relatively stable,” CIBC deputy chief economist Benamin Tal told CBC News. “I just don’t see anything that will send them up.”

Mortgage rates have been creeping up over the last few months— a fact that may have many homeowners scratching their heads.

Usually a turbulent economy, like the one Canada is currently facing, with oil below $30 US a barrel and the loonie lower than 70 cents US, would be accompanied by a drop in mortgage costs, especially fixed rates.

That’s because fixed mortgages are tied directly to government bond yields, which are at an all-time low as risk-wary investors steer clear of the stock market.

Still, all the major banks have announced mortgage-rate increases since December.

CIBC increased its three-year fixed rate by 10 basis points to 2.59 per cent. RBC upped its special offer on a five-year fixed mortgage by one-tenth of a point to 3.04 per cent. TD Bank increased its one-year and four-year closed special rates by one-tenth of a point each. Scotiabank increased its variable rate by 10 basis points.

Government regulations and global forces

Robert McLister, a mortgage planner at intelliMortgage and the founder of RateSpy.com, told Canadian Press the hikes stem partly from new government regulations designed to reduce risk in the country’s housing industry, including plans to force the banks to have more money set aside in case the mortgage loans on their books go bad.

“It’s going to be more expensive for banks to hold mortgages,” McLister said. “They have to put aside more capital and when you put aside more capital, then you can’t do other things with it. And that costs you money, so that gets baked into pricing.”​

But it’s more complicated than that, said Tal. In order to understand Canadian mortgage rates, you have to look at the global picture.

“Given the uncertainty and given the fact that risk profiles are rising globally, I think that the Canadian banks have to pay more to fund themselves,” he said.

Still, there’s no reason for homeowners and would-be homeowners to fret over modest hikes to already low rates, John Andrew, a real-estate professor from Queen’s University in Kingston, Ont., told CBC News.

“I think the rise we’ve seen in mortgage rates isn’t really very significant,” he said.

Bank of Canada holds key rate steady

Meanwhile, the prime rate — the interest rate commercial banks charge their most credit-worthy customers — is unlikely to change substantially any time soon after the Bank of Canada announced Wednesday it would leave its benchmark overnight rate unchanged at 0.5 per cent.

Changes to the overnight rate — the interest rate at which big banks borrow and lend — have traditionally had major implications for Canadian mortgages, as the big commercial banks would follow in lockstep with changes to their prime rate.

But even if the Bank of Canada had announced a rate change on Wednesday, the impact on mortgages likely would have been minimal. The central bank’s power to influence the housing market has dwindled in recent years, economists say.

When the Bank of Canada slashed the overnight rate by 0.25 per cent a year ago, commercial banks only cut their prime rate by 0.15 per cent.

“That’s maybe something the [Bank of Canada] should look at, because the ability of the bank to really impact market rates and activity is very limited,” Tal said.

Rates will go up eventually

Despite the steady forecast for the next year or two, Andrew advises new homeowners or those looking to renew their mortgages to choose a fixed, or locked in, rate with regular monthly payments that aren’t tied to the prime.

“I’m a little gun-shy about variable-rate mortgages, just because you’re in a period where mortgage rates are so low and there isn’t a widespread expectation in the market that they’re going to rise dramatically,” he said.

“I’m a big one for certainty, and I think the big uncertainty is rising rates. We know they’re going to rise — we just don’t know when and we don’t know by how much. So do you want to get into a variable situation where you’ve got no control over that?”

Marcus Tzaferis, a mortgage broker with MorCan Direct, disagrees. There are good deals on variable-rate mortgages right now, he said, especially from non-bank lenders that won’t penalize you if decide to lock in.

“I’ve been doing this now for about 15 years — nothing happens all that quickly. This tool of inciting some fear that rates are going to go up — it almost works in the banks’ favour. The banks make more money on the fixed rate,” he said. “I don’t think we’re going to see rates increase any time soon.”

Tal said when it comes to fixed versus variable, it all comes down to the individual. There’s no one-size-fits-all for mortgages. But, he warned, the pendulum will eventually swing back, so it’s best to plan ahead.

“If you’re buying right now, it’s very, very likely that five years from now, when you renew, rates will be notably higher,” he said. “If you cannot finance your mortgage at rates that are one to two per cent higher, then you have to think twice about the type of house that you want to buy.”

Link

New Listing: 1835 Foxtail Drive, Pineview Valley, Kamloops, BC $449,900

1835 Foxtail Drive, Pineview Valley, Kamloops Home for Sale

New Listing: 1835 Foxtail Drive, Pineview Valley, Kamloops, BC $449,900. Meticulously maintained Pineview home with lots of extras.

This home features a great room open floor plan on the main floor with hardwood floors, 9 foot ceilings, and a good sized centre island in the kitchen with additional pantry. There is a large patio off of the dining room leading to the beautifully landscaped yard with large storage shed.

There are 3 bedrooms on the main floor with a 4 piece guest bathroom and 3 piece master ensuite. There are a lot of closets for all your storage needs. The basement level has a large rec room with additional bedroom, laundry room, and 3 piece bathroom. Other features include heat pump, central a/c, built in vacuum, custom window coverings, fully fenced yard with irrigation, and RV parking.

To view all homes for sale in Kamloops click here.

Knutsford, Kamloops, B.C. Real Estate

Knutsford Kamloops BC Rolling Hills Property For SaleKnutsford is located 15 minutes south of the city of Kamloops. The Old Merritt Highway 5A runs through the Knutsford area. Some areas of Knutsford are within a five minute drive of Aberdeen Mall. Knutsford mainly consists of small to large acreages, farms and Kamloops Property MLS Knutsford River Lakeranches. There are a couple of small mobile home parks in the area as well. Knutsford is known for it’s wide open rolling hills with views for miles. Knutsford is located at a higher elevation than the city of Kamloops and tends to get a little more snow in the winter but in the summer it is not quite as hot.

The Knutsford Hall is a popular place for locals to meet for events and gatherings and has a capacity of up to 110 people. The Hall is located on Highway 5A just outside of Aberdeen.

Properties & Real Estate

The two mobile home parks in the area are Knutsford Knoll Mobile Home Park (2867 Highway 5A) and Knutsford Tent and Trailer Park (2721 Highway 5A). These parks are easily accessible from the highway.

Knutsford Farm Home Kamloops BCThe majority of Knutsford is dominated by ranches and farms. Many of the properties are located off of Long Lake Road, Highway 5A, Rose Hill Road, Goose Lake Road, Weir Road, Jackson Road, Separation Road and Edith Lake Road. There are a number of smaller roads in Knutsford that also lead to large properties. Click here to view a map of Knutsford.

The majority of the properties in Knutsford are on septic system. For water, homes are either a drilled well or have water delivered. There are a few select properties that border Aberdeen that do have city water services.

There are not any multi-family or townhouse developments in this area.

Click here to view properties for sale in Knutsford.

Shopping

Knutsford does not have it’s own shopping district. You will find ranches and farms that sell eggs and other products but there are not any large commercial developments.

Most areas of Knutsford are within five to 15 minutes of the Aberdeen area of Kamloops. Aberdeen has a number of stores and shops such as the Aberdeen Mall, Costco, many restaurants, and more. Knutsford is a great location for people who want to live in a country setting but also want to be close to city amenities.

Highway 5A leads directly to Highway #1 which is the main route through Kamloops making other shopping districts such as Downtown Kamloops and Valleyview very accessible.

Schools

Knutsford is serviced by school bus and students have the choice of a few schools. It will take about 15 to 30 minutes by school bus to most schools in the area. Click here for further school information.

Recreation

Knutsford Horses Kamloops BCThere are many outdoors activities to enjoy in Knutsford such as horseback riding, motor sports, hiking, boating (Stump Lake is close as well as other small fishing lakes), fishing and more. Stump Lake is the only lake in the area that allows gas powered boats, other lakes such as Edith Lake, Separation Lake, McLeod Lake and Flat Lake are only fishing Lakes.

Knutsford is also very close to the city of Kamloops and can access many city amenities like the Tournament Capital Centre and other popular activities in Kamloops.

Click here to view properties for sale in Knutsford.

To read more about other neighbourhoods click the link below:

Aberdeen                                          Barnhartvale                          Batchelor Heights

Brocklehurst                                    Campbell Creek                      Dallas

Deloro/South Thompson Valley      Cherry Creek                       Dufferin/Southgate

Heffley                                                Knutsford                               Juniper Heights

North Kamloops                           Paul Lake/Pinantan Lake        Pineview

Pritchard                                            Rayleigh                                  Sahali

South Kamloops/Downtown         Sun Rivers                               Sun Peaks/Whitecroft

Valleyview/Rose Hill                      Westmount                             Westsyde

Surrounding Communities

Barriere                                        Mclure/Vinsula                         Savona/Tobiano

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