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I read an online article today saying that Scotia Bank believes that the housing sales boom will continue for a few different reasons. This is partially due to the prospect of increasing rates, the tightening of lending rules for mortgages and the introduction of the harmonized sales tax. It is also expected that the Bank of Canada will raise interest rates by somewhere between half a percentage point and a full point over many months beginning in late spring or early summer. All of these factors combined has made this spring a seller's market due to the fact that serious buyers want to buy a home now so they can save money in the long run! Whether buying or selling...both parties have a lot to benefit from right now! It's a great time to take the step to buy or sell!
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