This week Mark Carney, Governor of the Bank of Canada hinted that rate hikes might be sooner than later in Canada.

Canada has fared very well during the banking crisis with no Bank Bankruptcies and banks posting record profits. We still don't have the long term mortgages the USA does have but with shorter terms many in Canada work at paying off their mortgage asap. And that's a good thing.

If rates do go up it will slow down our hot market. There is a direct correlation between rates and house prices and with the Bank of Canada rate at .25% its hard to imagine any lower. The other downside of our interest rates rising we then see our dollar rise against the US Greenback. We flirted with par last week and this week its at the 97.7 level. High dollar makes it tough in our resource sector. Higher interest rate slows down inflation. I am sure glad i don't have his job as its your darned if you do and darned if you don't.

But thats global pic. Locally, 7 sales for the month so far. Its been awesome and we have some great clients that we have worked with this month.