MAY ~ Buyers Have a Choice!
Prospective Buyers in today's market have a broad selection to choose from in every property type! The total number of property listings on the MLS increased 10% compared to last month, and is up 28.2% compared to this time lastyear. However, the MLSLink Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver still increased 16.7% from May 2009.
Click here for complete May stats package
Prime and Interest Rates on the Rise
The Bank of Canada recently incresed the overnight rate to .5%. The next scheduled rate announcement is July 20, 2010. We've also recently experienced the biggest one day jump in posted rates since 1996.
Click here for more details
Get pre-approved and locked in for 120 days today to secure the lowest interest rate available. Call me as I work with the best Mortgage Professionals who offer my clients buyer incentives and the absolute lowest rates in the market.
New(ish) Mortgage Rules
On April 19th, 2010, three major rules changed to government back insured mortages, including:
1. 5 year fixed qualification rates
2. 90% maximum refinancing
3. 80% maximum rental income
For details please contact me or visit...
http://www.fin.gc.ca/n10/10-011-eng.asp
