Trevor Bruintjes from Investors Group in Smithers sent me this link to a MarketPlace article on Mortgage Insurance, MarketPlace- Mortgage Insurance: Not Always a Sure Thing .
It’s really worth watching and remember to shop around for insurance.   The bank will require you to insure your mortgage but you don’t have to buy the insurance from them.   Life Insurance can be dramatically cheaper then what the bank offers you.   Also, unlike regular life insurance, the monthly payment for the Banks Mortgage Insurance stays the same even as the amount you owe on your mortgage goes down, which makes it even less worthwhile.

The Report below  came from the BC Northern Real Estate Board;

The MLS® average residential price for homes sold in the region served by the BC Northern Real Estate Board rose to the highest level on record for the month of October. Meanwhile, improving demand and fewer new listings continue to draw down inventories and firm up the market.

The MLS® average residential price was $216,928 in October 2009, up four per cent from one year earlier. The average price also set a record for September in the previous month.

The Board cautions that the average residential price is a useful figure only for establishing trends and comparisons over a period of time. It does not indicate an actual price for a home due to the wide selection of housing available over a vast geographic area (the Board serves an area covering over 600,000 square kilometers or 72 per cent of the province).

MLS® home sales activity increased 11 per cent year-over-year to 362 units in October 2009. This is the largest gain of any month in more than two years.

Seasonally adjusted sales activity was up six per cent on a monthly basis in October (seasonal adjustment removes normal seasonal fluctuations). Building on increases throughout the year, seasonally adjusted activity now stands 52 per cent above the low in January.

“October was a strong month for sales activity,” said Gary Shannon, President of the BC Northern Real Estate Board. “Demand is improving; combined with fewer new listings, inventories are being drawn down and prices are stabilizing.”

The dollar value of all MLS® home sales in October 2009 was $78.5 million, 15 per cent above levels from one year earlier.

Total MLS® sales numbered 424 units in October, rising 11 per cent year-over-year. The total value of all MLS® properties sold was $85.5 million, up 13 per cent from October 2008.

The number of new residential listings on the Board’s MLS® system was down from year-ago levels for the 10^th consecutive month in October 2009. New listings numbered 480 units, declining 25 per cent from a year earlier.

Active listings were down 12 per cent from year-ago levels in October, the largest decrease since December 2006. This is also the fifth consecutive month in which inventories shrank. Active residential listings on the Board’s MLS® system numbered 2,398 units at the end of October 2009.

There were 6.6 months of inventory at the end of October 2009. This is the lowest level since May 2008, and remains well below the recessionary peak of 16 months recorded in January. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The BC Northern Real Estate Board is an association of about 410 REALTORS® that provides services to and sets standards for members. The BC Northern Real Estate Board covers the northern part of British Columbia, including Bulkley Nechako, Cariboo, Fraser Fort George, Peace River/Fort Nelson, and Skeena/Queen Charlottes.