Housing starts will be above average, but decline slightly in 2008 and 2009 as economic and job growth
slow. Single detached home starts will move lower to levels very near their 10-year average. High land,
labour and material costs will result in even higher home prices and an above average
share of multiple-unit projects.

Tight labour markets will also keep wages and incomes rising, as well as people
moving to the province. B.C.s natural beauty, mild climate and abundant recreational
opportunities will cause retirees from other parts of Canada to gravitate to Vancouver Island and interior
communities. The increase in population will fuel demand for both home ownership and rental
accommodation. Consumer confidence, while down slightly, is relatively positive, boosted by past strong
job growth and the increased buying power of the high Canadian dollar. New jobs added in 2007 will drive
housing demand through 2008. Consumer spending and investment will be the key drivers of economic
growth.

Expect slightly slower growth in the B.C. economy and employment to lessen housing demand. Financial
market volatility and uncertainty stemming from the U.S. housing slowdown are clouding the economic
outlook for British Columbia. A strong Canadian dollar and low level of new home construction south of the
border will have a negative impact on the provinces exports, particularly softwood lumber and tourism.
The negative demand effects of growing mortgage carrying costs will be offset somewhat by those
homebuyers opting for longer amortization periods. Existing home sales through the Multiple Listings
Service (MLS) will edge down slightly, as first-time buyers and buyers with small down payments play a
diminishing role in the market. Price growth will slow as increased listings and fewer resales bring supply
and demand for existing homes into balance.

While home prices will grow more slowly, the average MLS price will outpace the general rate of inflation. Increased home listings and fewer resales will bring supply and demand for existing homes into balance. High home prices in the Vancouver CMA will result in some people selling their homes and relocating to other, less expensive, areas of the province.

Average
Residential
Resale Price

Mortgages
approved by
lenders,
residential 2006

Life and
companies
other

2007 E = estimated by the CMHC
* Canada calculation excludes Yukon and Northwest Territories
Data based on application received date
Mortgage approval data are gross and may not fully capture lending activities of credit unions, caisses populaires, other smaller
institutions and privately-insured loans in some areas
Quebec data is understated due to low response rate to the surveys in that province.
*Conventional Lending data only

If you are looking to search for the best mortgage rates in BC, RateSupermarket.ca compares over 500
mortgage rates and BC mortgage brokers so you'll be sure to find the best mortgage rates in BC.MView
the latest BC mortgage news listed below, or compare BC's current mortgage rates at
http://www.ratesupermarket.ca/best_mortgage_rates?province=British-Columbia

BC Best Mortgage Rates - Compare Rates - Mortgage Brokers -RateSupermarket BC mortgage rate, best BC mortgage rates, RateSupermarket.ca, mortgage rates, BC mortgage broker, mortgage brokers in BC, compare BC mortgage rates Compare the best current mortgage rates in BC, Canada from all the BC