Not much movement with interest rates this week. Some lenders have lowered their 1-5 year fixed rates over the last couple weeks, making the fixed option a little more desirable then it previously was. Also a great time to get yourself pre-approved and lock in these lower 5 years fixed rates. Rate holds are good for up to 120 days, which gives people time to shop around while holding on to yesterdays low rates. Variable Clients…...Still a great time to keep floating!
|
Term |
Best |
Bank Posted |
|
1 year |
2.64% |
4.35% |
|
3 year |
3.75% |
4.60% |
|
5 year |
4.19% |
6.10%5 |
|
10 year |
5.25% |
7.05% |
|
25 year |
9.30% |
9.65% |
Courtesy of
Call Laura today and tell her Lyn sent you!
Not much movement with interest rates this week. All lenders raised their prime rate last week with the Bank of Canada...but we were all ready for that move. The bond market has left room for lenders to bring down their longer term rates. The 5 year rate could come down by another .5%. The Banks are charging 4.49% for their 5 year rate while others are willing to discount further. Low rates are here for awhile longer. Still a great time to keep floating!
|
Term |
Best |
Bank Posted |
|
1 year |
2.64% |
4.35% |
|
3 year |
3.75% |
4.60% |
|
5 year |
4.19% |
5.99% |
|
10 year |
5.25% |
7.05% |
|
25 year |
9.30% |
9.65% |
Courtesy of
Call Laura today and tell her Lyn sent you!
Bank of Canada Increases Overnight Rate Target to 1/2 per cent and Re-establishes Normal Functioning of the Overnight Market
OTTAWA - June 1, 2010
Interest rates have not moved this week as the world adjusts to the new normal after 3 rate hikes on the longer terms. The ironic thing is that the yield on the bond market, where lenders go to get their funds to lend as mortgages, has come down to almost the same levels that it was at when lenders were offering 5 year mortgages for under 4%. Currently the “Banks” are charging 4.79% on their 5 year mortgage. There are lenders who have better deals but it would be nice to see the rates come down a little.
|
Term |
Best |
Bank Posted |
|
1 year |
2.65% |
4.35% |
|
3 year |
3.29% |
4.6% |
|
5 year |
4.39% |
6.10% |
|
10 year |
5.25% |
7.05% |
|
25 year |
9.30% |
9.65% |
Courtesy of
Call Laura today and tell her Lyn sent you!
Wednesday, May 5, 2010 - The first survey ranking Canada's top real-estate brokerages is being released today and industry executives are already squabbling over the top rankings.The top firm in the country by dollar value of transactions is Vancouver-based Macdonald Realty Group, which had more than $4.7-billion in sales in 2009, says the survey by Real Trends Inc., which provided an advance copy to the Financial Post.
But the results are being challenged by Royal LePage Real Estate Services Ltd. chief executive Phil Soper, who said they are "self-reported."
Colorado-based Real Trends, which has been doing the survey for 20 years in the United States, said all the data were verified by either an external accountant's letter certifying the accuracy or, if the firm was part of a branded chain, explicit approval by the franchisor.
Dan Scarrow, the vice-president of strategy with Macdonald Realty, said since most of the transactions go through the Multiple Listing Service, they are public and easily verifiable. Any brokerage making up a number is sure to be called on it, he said.
"We are the largest independent brokerage in a very large market and the market is very fragmented," said Mr. Scarrow in explaining his No. 1 ranking on the list.
The No. 2-ranked firm in terms of dollar value was Re/Max Real Estate Central in Calgary, with $2.75-billion in sales. That Re/Max brokerage, with 242 agents, finished more than $200-million ahead of Mr. Soper's fifth-placed Royal LePage Real Estate Services Ltd., which has 1,258 agents.
"It's grossly wrong," said Mr. Soper, casting doubt on the findings that did place his firm No. 1 in the country by volume of transactions, with 9,849 sales concluded. Royal LePage operates a franchise model and also has 15 offices that are corporately owned.
"We sent out announcements multiple times to everybody, from [the Canadian Real Estate Association] to all the national brands. Every single one of them.
"We talked to other brokerages who do business in Canada," said Steve Murray, editor of Real Trends. "I'm sure somebody will be left out, but we tried to make sure every broker who does 500 transactions in Canada had a chance to apply."
Real Trends does not charge brokers to be part of the list, but does try to sign up companies for its subscription service. "Brokerages can benchmark themselves against others and see the general trends among different brands and provinces," Mr. Murray said. "The large brokers can see whether they are doing better than the market, as well as the market or trailing the market. There is all kinds of statistical stuff that has never before been available to the Canadian market."
He admitted there has been some resistance to the rankings in the Canadian market because some brokerages have never revealed such information before.
Of the 200 firms that participated, there were 392,898 transactions, Real Trends says. That represents only about 42% of total transactions in Canada. There were 465,251 transactions in Canada conducted through the MLS in 2009, according to CREA, and each transaction has a buyer and a seller.
Michael Polzler, executive vice-president of Re/Max Ontario Atlantic-Canada, said those not on the list this year because they chose not to participate might think twice in 2010 as the survey becomes more well-known.
"Our market performance speaks for itself," said Mr. Polzler. Brokerages under the Re/Max brand had four of the top 10 spots in terms of sales and dollar value of transactions.
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.
