In one of the most optimistic reports I have read, Central 1 Credit Union is forecasting record sales and pricing on BC housing for 2010. They anticipate sales to increase 30% and the annual median price to rise to a record $391,000 in 2010. The driver of this, as in many reports and forecasts, I
The Bank of Canada today kept the key lending rate at 0.25% as forecasted. However, more importantly it continues to maintain its conditional commitment that they will not raise rates until the second quarter of 2010. This is welcome news to everyone in variable rate mortgages or have outstanding amounts in their lines of credit.
Going against the trend for higher interest rates, a local credit union that serves the Greater Vancouver Area announced a lower 5 year fixed rate. It is offering 3.85% for that term effective immediately and is a special that can be withdrawn at any time. No pre-approvals on this rate. This promotional rate is lower
