Centum Rate Watch - September 26, 2011

Click HERE for our current interest rate sheet.

If you are looking for expert mortgage advice, please give us a call or shoot us over an email. We'd be glad to help you out.

If you have any friends or family that are thinking about buying a home and they need a mortgage, or if they are renewing or refinancing their existing mortgage, please call us so we can connect up with them.

As always, we appreciate all your referrals! Have a great week!

Centum Rate Watch - September 21, 2011

Click HERE for our current interest rate sheet.

If you are looking for expert mortgage advice, please give us a call or shoot us over an email. We'd be glad to help you out.

If you have any friends or family that are thinking about buying a home and they need a mortgage, or if they are renewing or refinancing their existing mortgage, please call us so we can connect up with them.

As always, we appreciate all your referrals! Have a great week!

Centum Rate Watch - September 12, 2011

Click HERE for our current interest rate sheet.

If you are looking for expert mortgage advice, please give us a call or shoot us over an email. We'd be glad to help you out.

If you have any friends or family that are thinking about buying a home and they need a mortgage, or if they are renewing or refinancing their existing mortgage, please call us so we can connect up with them.

As always, we appreciate all your referrals! Have a great week!

Centum Rate Watch - September 06, 2011

If you are looking for expert mortgage advice, please give us a call or shoot us over an email. We'd be glad to help you out.

If you have any friends or family that are thinking about buying a home and they need a mortgage, or if they are renewing or refinancing their existing mortgage, please call us so we can connect up with them.

As always, we appreciate all your referrals! Have a great week!

Fraser Valley Real Estate Prices - August 2011

Fraser Valley Real Estate Prices - August 2011 Report

HOME SALES IN FRASER VALLEY HOLD STEADY IN AUGUST

The Fraser Valley Real Estate Board processed 1,341 sales on the Multiple Listing Service® (MLS®) in August, an increase of 35 per cent compared to the 997 sales during the same month last year and slightly higher than the 1,322 sales in July.

Sukh Sidhu, president of the Fraser Valley Real Estate Board, says, “We typically see a summer dip in sales in August compared to July and that didn’t happen this year. We attribute the current steady market to interest rates remaining favourable, as well as buyers taking advantage of home prices softening slightly in certain markets and an influx of new inventory across all property types.”

The board posted 2,644 new properties on its MLS® in August, an increase of 26 per cent compared to August of last year and 10 per cent fewer than it received in July. The number of active listings in the Fraser Valley remained at 10,074 in August, on par with July’s volume.

“The number of homes on the market remains at a yearly high, which combined with a decrease in sales, can put downward pressure on pricing. We’re only seeing this in some communities for certain property types underlining the importance for both sellers and buyers to obtain local real estate expertise.

“Year over year, home prices in the Fraser Valley are either on par or showing increases; month over month, benchmark prices for the three main residential property types combined declined by 1.3 per cent.”

The benchmark price of a single family detached house in the Fraser Valley in August was $528,959, an increase of 3.7 per cent compared to $510,107 in August 2010.

For townhouses, the benchmark price in August was $327,317, an increase of 0.9 per cent compared to $324,485 during the same month last year. The benchmark price of apartments in Fraser Valley in August was $245,751, an increase of 2.5 per cent compared to $239,659 in August 2010.

Fraser Valley Real Estate Prices - August 2011 Report click here

Greater Vancouver Real Estate Prices - August 2011

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,378 in August. This total represents an eight per cent increase compared to the 2,202 sales in August 2010, but also ranks as the third lowest total for August in the last 10 years.

August marked the third consecutive month that home sale activity in Greater Vancouver was below the 10-year average for the month. In contrast, home listing activity in the region has exceeded the 10-year norm every month since the beginning of the year.

Click here for the full report.

Bank of Canada Rate Announcement - September 02, 2011

For the 8th straight time since last October, the Bank of Canada again announced that it is leaving its target overnight interest rate at 1%, and said, "...the need to withdraw monetary policy stimulus has diminished." The bank indicated in its media statement that the US recession was deeper and its recovery has been shallower than previously reported.

Following this news, chartered banks and other financial institutions are expected to leave their prime lending rate at 3%.

Next Bank of Canada rate announcement – October 25, 2011.

Click here for the full Bank of Canada report.

If you are in a variable rate mortgage and need mortgage advice or if you have any friends or family that are buying a home or refinancing their existing mortgage, please call us so we can connect up with them. We always appreciate your referrals.