Well here we are again, at years end, well almost, and what a year it’s been.

We started the year a slow Real Estate market and by the end of July had experienced the busiest month ever on record for sales and the market kept going. Even in December usually a quiet month the market is very active and looks to be for the first 1/2 of 2010.

What the impact of the HST will be remains to be seen but it really will only effect the new house market and the resale market stands to benefit form that. The only concern most sellers will have is the change, on commissions, in sales taxes from 5% to 12%.

The prime rate appears to be stable for the next few months so that will be good news for those locked into variable mortgages. The fixed term rates of 3 years and more are not affected by the prime rate and those have been creeping up a little in the last 2 months and several “experts” think they will slowly increase over the next year. Of course “experts” have a 50-50 chance of being right the best definition of an economist I have heard is “someone who has to explain tomorrow, why the prediction they made yesterday, did not happen today” perhaps not entirely true but close enough from my point of view.

Anyhow I wish you all a Merry Christmas and a happy and health New Year when ever you New Year Starts (see Happy New Year maybe Dec 08.