The market has been very busy over the past few months and I wanted to share the article below from the BC Real Estate Association (BCREA).
If you are thinking of purchasing, by all appearances housing prices are on the rise. According to the article the market has now become “balanced” which means it is no longer a buyers market.
Interest rates on fixed term products remain historically low and competitive while Variable Interest Rate Mortgages have been reduced to Prime +.40%.
BC Housing Market Exhibits Balanced Conditions
Vancouver, BC – August 14, 2009. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 53 per cent to 10,051 units in July 2009 compared to the same month last year. After six consecutive months of rising home sales and declining inventories, the province moved into balanced conditions in July, the first time since April 2008. READ MORE: www.bcrea.bc.ca/news_room/2009-07.pdf
Filed under: Mortgage Planning | Tagged: Finance, First Time Home Buyer, Fixed Rate Mortgages, Interest Rates, Mortgage Advice, Mortgage Planning, Property Taxes, Real Estate, Refinace, TD Canada Trust
