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Baby Steps...

      Another week - another small decrease in interest rates. I’ve been telling you that fixed terms have to come down and they are. There’s more room for decreases but whether or not the lenders offer the savings to the borrower or try to hang onto their larger spreads, only time will tell.

      The Bank of Canada next meets Wednesday, September 8th. It’s widely thought that the B of C cannot go too much further without the rest of the world, most notably the USA, joining in the recovery. Based on what I’ve read, the recovery in the USA is looking more like 2012-2013. About the time that the Port Mann bride is finished, rates in the USA will be going up.

    Until then, keep your speed under 80km/h (in Vancouver) and consider riding in a variable mortgage. Have a Great week!

          
Bank Prime Rate 2.50%
Term
Best
Bank Posted
1 year
2.65%
3.50%
3 year
3.49%
4.50%
5 year
3.89i

 5.79i

10 year
5.25%
6.90%
25 year
9.30%
9.65%
 
 
 

 

 
 
 
 
 
Bold numbers denote change from last posted rates.  
 
Variable mortgage from Less Than Prime...TODAY at 2.15%!
 

Courtesy of

Laura Stein - The Mortgage Centre
T
elephone: 604-657-6535 ext 22
2

www.mortgagecents.ca

 

Call Laura today and tell her Lyn sent you!

Read

 

The Low Down on Interest Rates...

 

The Bank of Canada has decided to leave interest rates where they are. This was no surprise to anyone as the B of C has promised to keep the overnight rate at .25% until June of this year. They predict growth to pick up through the latter half of this year. If they are correct, then we will see interest rates start to go up later this year. All the powers that be, the government and the Bank of Canada, will be approaching any rate increases extremely carefully as the recovery will be slow and precarious until the USA is on better footing. 
 
            Bank Prime Rate 2.25%
Term
Best
Bank Posted
1 year
2.25%
4.5%
3 year
3.25%
5.15%
5 year
3.79%*
5.84%
10 year
5.25%
7.15%
25 year
9.30%
9.65%
 
 
 
 
 
 
 
 
 
 *Strings attached to this rate!
 Bold numbers denote change from last posted rates.  
 
Variable mortgage from Less Than Prime...TODAY at 2.05%!
 

Courtesy of

Laura Stein - The Mortgage Centre
T
elephone: 604-657-6535 ext 22
2

www.mortgagecents.ca

 

Call Laura today and tell her Lyn sent you!

Read

 
Our first real estate workshop for women, held on Tuesday, October 27th at Trout Lake Community Centre in East Vancouver went well and provided attendees with some invaluable information on the current real estate market.
 
Laura Stein, of the Mortgage Centre, with 17 years experience as an independant mortgage broker, had tons of great advice for everyone and answered questions about qualifying for a mortgage in an informal and informational 90 minutes. She had so much info to share, she left me with a mere 30 minutes for my portion of the workshop! I spoke on the direction of the market, presented some of the perks for first time buyers, and answered questions on how to get started.
 
Laura and I have worked together for the last couple of years and she is one of the most honest, up front people I know. Together, we provide you with a powerful, trusted team for your home buying experience.
 
We plan on holding additional workshops to help empower women and build confidence for first time or experienced buyers. Contact me if you want to be notified of the next Real Estate Workshop for Women.
Read
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