Dropping...
Great news this week as the “Big Banks” are finally getting in the game for interest rates. The news is all about the drop in interest rates by the Banks. Other lenders have already been down for a few weeks and I am looking to see rates go down even further. It is becoming more difficult to make the choice between variable and fixed rates as these rates get closer together.
The Real Estate market has slowed considerably since the hectic pace of late spring/early summer. Higher rates, changes to qualifications for obtaining a mortgage and the perceptions surrounding the HST are all responsible for the slowdown.
When things get slow, rates stay low….or go lower. Perhaps we will see a busy fall market as borrowers see an opportunity with lots of housing inventory and great interest rates.
Bank Prime Rate 2.50%
|
Term |
Best |
Bank Posted |
|
1 year |
2.65% |
3.50% |
|
3 year |
3.49% |
4.50% |
|
5 year |
3.79i |
5.49i |
|
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!
Courtesy of
Call Laura today and tell her Lyn sent you!
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
Comments:
Post Your Comment: