| Term | Bank Rate | Our Rate |
| 1 Year | 7.84 % | 6.74 % |
| 2 Year | 7.34 % | 6.09 % |
| 3 Year | 7.14 % | 4.99 % |
| 4 Year | 6.99 % | 5.04 % |
| 5 Year | 7.04 % | 4.74 % |
| 7 Year | 7.10 % | 5.49 % |
| 10 Year | 7.25 % | 5.74 % |
Even though Mortgage Brokers now originate about 30% of all mortgages in Canada many people still don’t understand what we actually do. Amazingly, many clients when they first talk to me think Mortgage Brokers only deal with people with bad credit and that we charge huges fees. Yes, we do assist people to get back
This past week provided a dramatic shift in the outlook for future mortgage rates. For the past few months things were very “boring” as rates remained stable and economic data showed miniscule bits of positive news. However, during the last few days we saw Australia raise their key lending rate by 0.25%, Canada’s latest employment
The latest statistics from the Greater Vancouver Real Estate Board indicate that the market remains very strong as it records the second best September sales month in history. With demand remaining high it appears that we are moving towards a seller’s market again. Full report below. September Statistics
