House prices in parts of Canada may appear to be increasingly out of reach for many Canadians, but lofty prices aren’t about to sink any time soon.

In fact, Canada’s homes are only “modestly” overvalued on average, Canada Mortgage and Housing Corp. says in an analysis, and there is no evidence that any dramatic reversal is in the cards.

Over all, “there is little risk of a housing price correction,” CMHC chief economist Bob Dugan says. “There is only a modest amount of overvaluation, and other risk factors don’t seem to be present now in Canada.”

Nationally, house prices are only slightly higher than where they should be relative to disposable income and population growth, the study shows. Overheating and price acceleration are also not a concern on a national basis.

Prime Rate is 3.00% Variable rate mortgages from as low as Prime minus 0.65%

Courtesy of Starr Webb  Dominion Lending

2014 Holiday Activities in Kamloops, British Columbia

The cookies have been made, the wrapping is done,

It’s time to relax and have a little fun!

Join Tourism Kamloops, and the City too,

For a Holiday Celebration that includes you! 

There are tons of Christmas and Holiday activties happening all throughout the city this winter so get in the spirit and check some out! Courtesy of Tourism Kamloops

 Westsyde Annual Craft & Home Based Business Fair @ The Westyde Fellowship Church – November 15, 2014

Mark your calendar for the Annual HUGE Westsyde Craft & Home Based Business Fair. Sat Nov 15th, 10am – 3pm, 2833 Westsyde Rd (in The Westsyde Fellowship Church)*All tables already booked with fabulous vendors* Over 50 fantastic vendors, concession and more! Click here for more information.

 Christmas Shopping Extravaganza @ The Cottonwood Community Centre – November 18, 2014

November 18th 5PM-9:30PM Cottonwood Community Centre 452 – 730 Cottonwood Avenue Photos with Santa by donation to The  MS Society of Canada from 5:00PM-8:00PM. Complimentary Coffee and Tea. Support local and home-based businesses and get your Christmas Shopping Done! Click here for more information.

 Christmas in the Square @ St. Andrews on the Square – November 21 & 22, 2014

Friday 11-7 pm & Saturday 10 – 3 pm. The annual KHS Christmas at the Square boasts a wide range of quality artisan wares. Held over two days in November this Fine Arts and Craft Show is a must see in the beautifully decorated historic St. Andrews on the Square. Admission by donation to The Kamloops Heritage Society. Click here for more information.

 Homes for the Holidays – November 22 & 23, 2014

2014 is the 13th Aniversary for the Homes for Holidays in Kamloops. The tour features homes volunteered by local Kamloops residents and decorated by Kamloops’ signature designers. Designers work together with florists and retailers to inspire Christmas decor, contemporary flair and I-never-thought-of-that pieces. This year’s tour will once again feature many wonderful delights. Click here for more information.

 Lights in the Night – November 27, 2014

Lights in the Night is the one day of the year when merchants, businesses and service providers come together to throw a holiday party like you have never seen before. Everyone (you, your kids, co-workers, mother, dog, father, cousins, friends) is invited to head down to the core to take part in the fun and festive frolicking. Click here for more information.

 Santa Clause Parade – November 29, 2014

The city’s biggest outdoor winter celebration with lots of decorated floats, live music, caroling, and entertainment. Fun for the whole family!

Click here for more information.

 Christmas at the Courthouse – November 29 & 30, 2014

If you have never been inside this heritage building, this is the best time of the year to visit. The Old Courthouse will be filled with high quality crafts and decorated beautifully for Christmas. This event will take place 10am to 4pm both days. Click here for more information.

 Winter Tasting Room Hours @ Privato Vineyard & Winery – November 29 to December 21, 2014

Open daily from 10am to 4pm.

 Pick your Tree at Woodward Christmas Trees – November 29 to December 21, 2014

Open daily from 10am to 4pm, you can pick out your own Christmas Tree and sample and buy some local wine. On weekends Woodward Christmas Trees offers hay rides that take you to the trees. Enjoy the concession and a bon fire to follow.  This year they have opened their winery – Privato Vineyard and Winery.  While it is closed for the season, they are reopening it just for the Christmas season for their valued Christmas tree customers. They also have two locations within the city at the Safeway Stores where they bring freshly cut trees from the farm daily. Click here for more information.

 A Very Merry Slumber Party @ Rivercity Gymnastics – December 6, 2014

3 hours of Frosty Fun with Our Snow sisters and our Fairy sisters! We’ll make and decorate snow cookies, make a craft, play tons of games, and have fun! 5:30pm to 8:30pm. Click here for more information.

 Christmas Dinner and Dance @ The Desert Gardens – December 6, 2014

Have fun at the Kamloops Old Time Fiddler Christmas Dinner and Dance on December 6, 2014 cost is $40.00 Person, at the Desert Gardens, for more info contact Jackie 250-319-3680.

 17th Annual Choral Rhapsody of Christmas @ The Sagebrush Theatre – December 9, 2014

Free community concert Tuesday, December 9 at 7 pm at Sagebrush Theatre Local Choirs will be presenting a delightful selection of Christmas carols with sing-a-longs in between sets for audience participation. Will be accepting donations for the Kamloops Food Bank To reserve your seat contact Kamloops Box Office Live 250-374-5483

 Wildlights at the BC Wildlife Park – December 12, 2014 to January 4, 2015

Picture hundreds of thousands of twinkling little lights while bonfires crackle and people sip steaming cups of hot cocoa or apple cider. Wildlights is an annual celebration at the BC Wildlife Park where families and friends gather to enjoy the beauty of the outdoors and the many animal sculpture lights. Check out the miniature train too … this is a MUST event for the Christmas season. Visitors can dare enter the new and larger Giant Maze, take a trip around the park on the Wildlife Express miniature train, enjoy a wagon ride to the North Pole, get entertained by Uncle Chris the Clown who performs nightly, and much more!

Click here for more information.

 Christmas with the Kamloops Symphony Orchestra – December 13 & 14, 2014

Songs and carols with the KSO Chorus, a young violin soloist, and “Snowstorm” music from Russia.  A lovely programme for the holiday season. Click here for more information.

 CP Holiday Train – December 16, 2014

The Canadian Pacific Holiday Train hits the rails again on November 26 and will be visiting over 150 communities across their network. Each event features a boxcar stage, a lineup of great musical talent and a contribution to the local food bank. Everyone who attends is encouraged to donate food and money which stays in their community. The CP Holiday Train will arrive in Kamloops on December 16th at 4:45pm at the north side of Interior Savings on Lorne Street.  Make sure to arrive at least 15 minutes before the event start time to see the train pull in.

Click here for more information.

 Cirque du Soleil Presents: Dralion @ Interior Savings Centre – December 24 to 28, 2014

After 15 years performing around the world, Dralion will make its finale curtain call in January 2015. From December 24th, 2014 to December 28th, 2014, Kamloops will experience the magic of Cirque du Soleil’s signature production that has performed in more than 150 cities. Dralion will be presented at the Interior Savings Centre for seven performances only. Starting June 20th, Dralion tickets will be available to the general public for all performances and can be purchased online at www.cirquedusoleil.com/dralion, www.ticketmaster.ca or by calling 1-855-985-5000, or in person at the Interior Savings Centre Box Office at 300 Lorne Street.

 Snow White – The Panto – December 24 to 31, 2014

The Laughing Stock Theatre Society presents the 4th annual Panto production. Fun for the whole family! The Panto will take place at the Sagebrush Theatre.

Click here for more information.

Kamloops’ downtown is home to many great watering holes. With some new tasty additions over the season, we thought we’d take you on our new Brew Tour! ‪#‎ExploreKamloops‬ http://bit.ly/brewtour2

Kamloops drivers who travel the Red Bridge are going to have to make alternate arrangements for the next month.

The bridge will be closed to all vehicle traffic starting Monday September 15 while the Ministry of Transportation conducts repairs.

The bridge will remain open to pedestrians and bicycles, but there will be some intermittent delays.

Drivers will still be able to get over the South Thompson River by re-directing to the Overlander Bridge or Highway 5.

The Ministry estimates the closure will last until the middle of October.

THOMPSON-OKANAGAN – Attention all sky-watchers, the last supermoon of 2014 will cruise across the night sky on Sunday.

The moon will be 358,398 kilometers from earth making it about 15 per cent brighter and roughly 7 per cent larger, according to National Geographic. Since the distance to earth is 50,000 kilometres closer than other full moons, it’s get the supermoon monicker.

A supermoon happens during the monthly full moon or perigee when it’s egg shaped orbit takes the moon to its closest point to the earth.

“While this is nothing special from a science perspective, it is no doubt very poetical and very romantic,” Adler Planetarium astronomer Geza Gyuk tells National Geographic.

Getting a good view of the supermoon depends on the weather where you are Sunday night since the orb will be visible all night. The Environment Canada forecast for the Thompson and Okanagan regions is calling for partly cloudy skies Sunday evening so weather shouldn’t be an issue.

For the best photos and viewing, it’s recommended you get outside just after sunset when the sky is getting dark. Apparently that’s when the super moon will be at it’s most dramatic.

There were two other supermoons this summer, with the one on Aug. 10 being the brightest and the closest.

Like many aspects of your life, obtaining financing on a new or existing home can be a lot less stressful and a whole lot more straight-forward if you’re prepared. But if you’re not prepared, there are many common mistakes you can make. Most of these mistakes are easily avoidable with some preparation and informed advice – feel free to call or email with any questions/concerns!

Below are the Top 5 Mortgage Mistakes people make when trying to secure financing for their home:

1. Failing to choose the best product for their situation
2. Automatically renewing their current mortgage with their existing lender
3. Signing documents without reading them
4. Taking it to the limit – running up credit
5. Not planning for your mortgage application

1. Failing to choose the best product for your situation
There are many different types of loans out there. There are fixed- and variable-rate products, hybrid and no-frills mortgages, lines of credit, term options, amortization choices, and more.

And although choice is great, it can be quite overwhelming without expert advice. While one person would benefit from a variable-rate product, their neighbour may be better suited to a fixed-rate product. The key is to always explain your current situation and future goals in detail so we can select a product that best meets both your current and longer-term needs.

2. Automatically renewing with your existing lender
Although you may feel an allegiance with the current financial institution that holds your loan, they may not be able to offer you the best choices. When refinancing or renewing, it’s important to always shop the market for your best available option, much like you did when

securing your first mortgage. This ensures you end up with the best mortgage rate and terms customized to your unique situation. In many cases your bank will offer you the posted rate in hopes that you’ll simply sign and return the commitment without shopping around. Make sure you do your due diligence when refinancing and renewing. After all, this is your home, your mortgage and your money!

3. Signing documents without reading them
Never sign documents without reading them. If you’re unsure about something, always ask for clarification. Remember that you’re the one entering into the agreement, so you need to understand and agree with that commitment.

4. Taking your credit to the limit
Make sure that your credit balances are in your favour when it comes to your mortgage application. Lenders are looking for an appropriate debt-to-income ratio. In other words, you need to have more income than you have debt. Avoid running up a balance on your credit cards and pay down existing debts as much as possible.

5. Failing to plan ahead
If you know that you’ll need to obtain, renew or refinance a mortgage, it’s essential to plan for it by ensuring your credit is in order. If it’s not, start preparing. Don’t make any purchases on your credit cards that you can’t pay off and if you carry a balance on your credit cards, start paying them down. Refrain from making any large purchases before securing your mortgage. If you’re planning to buy a car, wait until after you have secured financing, as your debt-to-income ratio will rise and you don’t want this to occur while trying to secure a mortgage.

Understanding how the mortgage process works and how lenders qualify your loan will help you avoid the above mistakes.