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The Bank of Canada announced on December 7th, 2016 that it was keeping its trend-setting target overnight lending rate at 0.5 per cent.‎

The Bank is currently taking a wait-and-see approach amid heightened uncertainty on a number of fronts, including the actual policy outcomes of the U.S. election.

On balance, the Bank said there remains “a significant amount of economic slack” in Canada.

Indeed, underlying inflation pressures are actually lower than various Consumer Price Index measures might suggest due to past exchange rate depreciation. That said, this phenomenon is fading at this point.

The Bank said it remains concerned about consumer debt levels and the housing market, but expects recently announced policy changes to home financing to mitigate these risks over time.

All things considered, the Bank will likely keep interest rates on hold for at least another year and perhaps even into 2018.

As of December 7th, 2016, the advertised five-year lending rate stood at 4.64 per cent, unchanged from the previous Bank rate announcement on October 19th as well as from a year ago.‎

The next interest rate announcement will be on January 18th, 2017, with an accompanying update to the Monetary Policy Report at the same time.

Simon Fraser
Market Update

Simon Fraser Condos

Altaire by Polygon

Altaire built in 2008/2009 reaches higher then any other condo building in Metro Vancouver offering panoramic views.

Novo I by Intergulf

Novo I built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Novo II by Intergulf

Novo II built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Aurora by Polygon

Aurora built in 2006 with 103 condos featuring 36 unique floor plans ranging from 715 sq ft to 1500 sq ft.

One University by Millennium

One University built in 2005 is UniverCity's flagship building with luxury homes featuring semi private elevators.

Harmony by Polygon

Harmony built in 2005 was the first condo development at Univercity & as a result offers a unique setting & views.

Serenity Townhomes by Polygon

Serenity is a collection of 2 bedroom townhomes of 1100 sq ft ranging to 4 bedroom 2000+ sq ft townhomes.

The Hub by Liberty Homes

The Hub built in 2009 is set atop Nester's Grocery and steps from High Street giving these homes an urban feel.

Verdant by VanCity Enterprises

Verdant is a two storey town home building built with environmental design and stylish living spaces which complement the modern exterior of these SFU homes.

Origin by Porte Development

Origin is designed by GBL Architect & BYU Interior Designs, developed by Porte Development Corp. and marketed by Red Dot Real Estate.

Nest by Mosaic

Located on UniverCity High Street across from the new University Highlands elementary schools this refreshing building will add further depth to a growing community.

Highland House by Liberty Homes

A 12-storey concrete high-rise development and targeted towards Rental Investors and First-Time Condo Buyers.

Lift by Porte Development

Lift will be a wood frame building comprising of 56 homes. Building technologies, environmental features, and price points should be similar to Origin.

Altitude by Hungerford Group

Altitude will be a 2 tower development comprising of a 12 and 14 story building with a total of 210 strata units.

CentreBlock by Liberty Homes

CentreBlock at UniverCity atop Burnaby Mountain is the latest condo project with sales commencing early 2014. .

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