VANCOUVER – The British Columbia Real Estate Association says tighter mortgage rules and lower demand are bringing the provincial housing market into balance. The association says 7,884 units were sold within the Multiple Listing Service across the province in June, a 32.5 per cent decrease from the same month last year. The average residential price
For those with a vested interest in mortgage rates—particularly variable-rate mortgage holders—tomorrow’s Bank of Canada rate decision has become one of the most-anticipated financial events of the quarter. Expectations of a rate hike have seesawed from a near certainty to a coin toss and back to a sound bet. Markets are currently 92% priced in
“The ‘best’ mortgage rate means the lowest rate available for a mortgage that contains all of the features and terms the client is looking for,” says Laird. He notes that some of the key features rate shoppers should consider include the penalty to break your mortgage; pre-payment privileges (i.e., the lump sum payments and percentage
