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
Why did rates change? A brief explanation on why mortgage rates change despite the Bank of Canada not making any changes. This originally aired on the weekly telecast of Radio Real Estate Show on Talk AM1410 in Vancouver.
