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Posted on by
Posted in 2009 market, 2009 Real Estate Market, First-time buyers, houses, mortgage rates, real estate market, Vancouver Real Estate blog, Vancouver real estate market
Lower Rates Fuel Market

Interest rates this week continued to ease on down. There is a 5 year term at 3.59% this week with others in the range of 3.69% to 3.79% depending on the type of mortgage a borrower requires. People are rate shopping and should be paying attention to the guidelines that will affect their future mortgage happiness, along with the rock bottom rates that will affect their bottom line. Variable mortgages are still a great bet.

 
Bank Prime Rate 2.25%
Term
Best
Bank Posted
1 year
2.90%
4.20%
3 year
3.15%
4.90%
5 year
3.59%
5.45%
10 year
5.25%
7.15%
25 year
9.15%
9.75%
 
 
 
 
 
 
 
 
 
 
 
Bold numbers denote change from last posted rates. 
  
Variable mortgage from Prime +.75%...TODAY at 3.00%!
 

Courtesy of

Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 222
www.mortgagecents.ca

 

Call Laura today and tell her Lyn sent you!
Read

Posted on by
Posted in 2009 Real Estate Market, First-time buyers, mortgage rates, real estate market, reports, Vancouver Real Estate blog
Prime Drops .25%
The Bank of Canada has dropped rates by another .25% and the Banks and other lenders are following by decreasing their prime rates. This means great news, again, for variable rate holders. The buzz is that prime rate will stay at this level for another 14 months. The longer term rates are staying low with no signs of increasing. All rates are great these days.
 
Bank Prime Rate 2.25%
Term
Best
Bank Posted
1 year
3.00%
4.20%
3 year
3.69%
4.90%
5 year
3.69%
5.45%
10 year
5.25%
7.15%
25 year
9.15%
9.75%
 
 
 
 
 
 
 
 
 
 
 
Bold numbers denote change from last posted rates. 
  
Variable mortgage from Prime +.75%...TODAY at 3.00%!
 

Courtesy of

Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 222
www.mortgagecents.ca

 

Call Laura today and tell her Lyn sent you!
Read

Posted on by
Posted in 2009 market, 2009 Real Estate Market, First-time buyers, mortgage rates, real estate, real estate market
All Good News for Buyers!
 
The market is heating up again for spring! All eyes are on first time home buyers who are actively looking at purchasing their dream home. Low interest rates and more affordable pricing seems to be sparking renewed interest. If you are not looking at purchasing a new home at this time, consider the benefits of refinancing at today’s great low rates.
 
If you are in a variable mortgage, stay in it!  
 
Bank Prime Rate 2.50%
Term
Best
Bank Posted
1 year
3.50%
5.00%
3 year
3.89%
5.55%
5 year
4.09%
5.79%
10 year
5.25%
7.35%
25 year
9.15%
9.75%
 
 
 
 
 
 
 
 
 
 
Bold numbers denote change from last posted rates. 
  
Variable mortgage from Prime + .80%...TODAY at 3.30%!
 

Courtesy of

Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 222
www.mortgagecents.ca

 

Call Laura today and tell her Lyn sent you!
Read

Posted on by
Posted in 2009 Real Estate Market, First-time buyers, mortgage rates
Bank of Canada Drops Rates - Prime at 2.5%!
  
The major lenders have followed. If you are in a variable mortgage, stay in it! If your mortgage is in a fixed term and you have equity in your home, you might consider a refinance. Check your home value by your latest tax assessment value and talk to your mortgage specialist.

 

The Real Estate market is moving with further stimulus expected from the government. Historic low rates and prices down by 10-20%.....an amazing time to buy! For first-time buyers this is an unexpected opportunity. 
  
Bank Prime Rate 2.50%
Term
Best
Bank Posted
1 year
3.50%
5.00%
3 year
3.99%
5.55%
5 year
4.19%
5.79%
10 year
6.00%
7.35%
25 year
9.15%
9.75%
 
 
 
 
 
 
 
 
 
 
Bold numbers denote change from last posted rates. 
  
Variable mortgage from Prime + .80%...TODAY at 3.30%!
 

Courtesy of

Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 222
www.mortgagecents.ca
Read

Posted on by
Posted in 2009 Real Estate Market, buying, First-time buyers, mortgage rates, Vancouver Real Estate blog
Friday the 13th is Your Lucky Day!
We are certainly having fun now with interest rates….saw a glimpse of 4.19% for a 5 year term this morning. There are strings attached and certain rules apply, but the market is moving in the right direction. Most are at 4.39% for 5 years.
 
Variable mortgages are being offered at prime plus .80%. The next Bank of Canada is March 3rd. Watch for any changes on this date.
 
Bank Prime Rate 3.00%
Term
Best
Bank Posted
1 year
3.50%
5.00%
3 year
4.50%
5.55%
5 year
4.19%
5.79%
10 year
6.00%
7.35%
25 year
9.15%
9.75%
 
 
 
 
 
 
 
 
 
 
 Variable mortgage from Prime + .80%
Bold numbers denote change from last posted rates.     
 

Courtesy of

Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 222
www.mortgagecents.ca

Read

Posted on by
Posted in 2009 Real Estate Market, First-time buyers, mortgage rates

      Interest rates have edged slightly lower this week. The fixed terms are adjusting as lenders and Government forces attempt to get interest rates to a level that will stimulate borrowing.

      Bank of Canada next meets on March 3. Expectations are that there will be more decreases in the rate that affects prime rate and variable mortgages.
 
Bank Prime Rate 3.00%
Term
Best
Bank Posted
1 year
3.50%
5.00%
3 year
4.50%
5.55%
5 year
4.39%
5.79%
10 year
6.00%
7.35%
25 year
9.15%
9.75%
 
 
 
 
 
 
 
 
 
 
 Variable mortgage from Prime + .80%
Bold numbers denote change from last posted rates.     
 

Courtesy of

Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 222
www.mortgagecents.ca

Read

Posted on by
Posted in 2009 market, 2009 Real Estate Market, mortgage rates
Interest rates on the longer terms came down last week, especially the 5 year term. Lenders are starting to pass along some of the some of the good things to get the economy rolling. The Real Estate market appears busier with open houses reporting an increase in traffic. Keep floating variable rate mortgage holders!
 
Bank Prime Rate 3.00%
Term
Best
Bank Posted
1 year
3.50%
5.00%
3 year
4.69%
5.55%
5 year
4.39%
5.79%
10 year
6.05%
7.35%
25 year
9.25%
9.75%
 
 
 
 
 
 
 
 
 
 
 
Bold numbers denote change from last posted rates.     
 

Courtesy of

Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 222
www.mortgagecents.ca

Read

Posted on by
Posted in 2009 Real Estate Market, mortgage rates, real estate market, Vancouver Real Estate blog

January 20, 2009 - Nothing but GREAT news today! The Bank of Canada has dropped their rate by .5% to the lowest rate in history, and the Banks are passing on the drop. Prime rate is now at 3%...Keep Floating!

      Longer term rates are edging down and will keep on this trend. The Real Estate market appears to be heating up with strong numbers heading to open houses and reports of competing offers.
 
Bank Prime Rate 3.00%
Term
Best
Bank Posted
1 year
3.99%
5.60%
3 year
4.64%
6.25%
5 year
4.49%
6.75%
10 year
6.10%
7.55%
25 year
9.75%
n/a
 
 
 
 
 
 
 
 
 
Variable mortgages from prime plus .60%
Bold numbers denote change from last posted rates.     
 

Courtesy of

Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 222
www.mortgagecents.ca

Read

Posted on by
Posted in 2009 market, market, mortgage rates, Vancouver Real Estate blog

Welcome to a new year of possibilities! Interest rates on mortgages have been edging down and should continue this trend for many months as the economy works the bugs out. The Bank of Canada meets on January 20th and should lower rates by .25%-.50%.

 
The Canadian Government is hammering on the banks to quit hoarding money by increasing their spreads they charge and so we should see more long term rate decreases as well.
 
Bank Prime Rate 3.50%
Term
Best
Bank Posted
1 year
4.00%
5.60%
3 year
4.69%
6.25%
5 year
4.75%
6.75%
10 year
6.10%
7.55%
25 year
6.75%
n/a
 
 
 
 
 
 
 
 
 
 
 
Bold numbers denote change from last posted rates.     
 

Courtesy of

Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 222
www.mortgagecents.ca

              
Read

Posted on by
Posted in First-time buyers, mortgage rates, real estate market
More Tweaks to Rates
Small downward changes in rates this week. The yields on bond market, where lenders go to get their funds for mortgages, are dropping. Long term rates are under pressure to drop accordingly. This trend will continue along with the decreases ahead by the Bank of Canada. The interest rate news is all great this week. Keep floating! 
 
Bank Prime Rate 3.50%
Term
Best
Bank Posted
1 year
4.35%
5.60%
3 year
5.10%
6.25%
5 year
4.80%
6.75%
10 year
6.10%
7.55%
25 year
6.75%
n/a
 
 
 
 
 
 
 
 
 
 
 
Bold numbers denote change from last posted rates.                   
 
There is a great deal of political pressure on the Banks to pass along all of Bank of Canada interest rate cuts. Watch in the days ahead, with change to the US Leader and our own  Leader facing economic and political challenges, that rates will have more downward pressure.
 

Courtesy of

Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 222
www.mortgagecents.ca

Read

Posted on by
Posted in mortgage rates, real estate market, statistics
Bank Rates Cut .50%!

Today, December 9th, the Bank of Canada announced a .75%  cut to their rate! The Banks have cut their prime by only .50% though. Lenders can sometimes take a couple of days to settle out their rates after a change as this one, so we may yet see some movement. The people who could apply political pressure seem busy, or rather not busy these days. It is widely expected that the B of C will cut rates again in January. Keep floating. In the meantime the 5 year term rate is now flirting with the 5% mark. Most lenders are 5.1% to 5.25% but the best is at 4.99%. Watch for this trend to continue!

 
Term
Best
Bank Posted
1 year
4.35%
5.60%
3 year
5.15%
6.45%
5 year
4.99%
6.95%
10 year
6.15%
7.75%
25 year
6.75%
n/a
 
 
 
 
 
 
 
 
 
 
                    Bank Prime Rate 3.50%
 

Courtesy of

Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 222
www.mortgagecents.ca

Read

Posted on by
Posted in 2008 vancouver, mortgage rates, real estate, real estate market
Rates are down!
The bond market is moving and creating room for lenders to bring down the longer term rates. This trend should continue for the next while and the Bank of Canada will step up and lower their rate on December 9th. Most think that a .5% drop is in the works. Keep floating while the long term rates come down further and then you can lock in, perhaps in the spring.
 
Term
Best
Bank Posted
1 year
4.35%
6.35%
3 year
5.15%
6.75%
5 year
5.10%
7.20%
10 year
6.10%
7.80%
25 year
6.75%
n/a
 
 
 
 
 
 
 
 
 
 
 
                 Bank Prime Rate 4.00%
 
Some lenders have reduced their variable mortgage rates slightly. This is a direct response to the government stimulus that as been injected into the credit markets. The credit freeze appears to be starting to thaw!
 
Courtesy of
Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 222
www.mortgagecents.ca
Read
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