Centum Rate Watch - August 29, 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!

Centum Rate Watch - August 22, 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!

Centum Rate Watch - August 15, 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!

Greater Vancouver Real Estate Prices - July 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 2,571 in July, a 14 per cent increase compared to the 2,255 sales in July 2010 and a 21.2 per cent decline compared to the 3,262 sales in June 2011.

While the balance between home buyer and seller activity remains in an equilibrium range in the Greater Vancouver housing market, last month’s home sale total was below the 10-year average for July.

Click here for the full report.

Fraser Valley Real Estate Prices - July 2011

Fraser Valley Real Estate Prices - July 2011 Report

RATIO OF PROPERTY SALES TO INVENTORY REMAINS STABLE IN THE FRASER VALLEY

The Fraser Valley Real Estate Board processed 1,322 sales on the Multiple Listing Service® (MLS®) in July, an increase of 20 per cent compared to the 1,101 sales during the same month last year, however 17 per cent fewer than the 1,588 sales in June.

While sales decreased month-over-month, listings went up. The board posted 2,931 new properties on its MLS® in July – 6 per cent more than received in June and 24.5 per cent more than in July 2010 – pushing overall inventory to 10,073 active listings, the highest level in the Fraser Valley since last summer.

Sukh Sidhu, president of the Fraser Valley Real Estate Board, says, “Last month, we were busier listing rather than selling properties, which is good news for prospective buyers. A buyers’ market means REALTORS® will have more homes to show their clients and increased negotiating power on their behalf.”

“For sellers in this market, expert guidance to determine your home’s list price is essential. Overall, we’re seeing home prices remain strong compared to a year ago, but not for every property type or every community. We’re still seeing tremendous regional variation in prices – some areas showing increases; others decreases – as well as local differences in the average number of days on the market.”

For example, in July, it took on average 18 days to sell a townhome in North Delta; 45 days on average to sell a single family home in White Rock/South Surrey; and, 65 days on average to sell an apartment in Abbotsford.

The benchmark price of a single family detached house in the Fraser Valley in July was $534,042, an increase of 4.6 per cent compared to $510,470 in July 2010.

For townhouses, the benchmark price in July was $328,318, an increase of 0.8 per cent compared to $325,856 during the same month last year. The benchmark price of apartments in Fraser Valley in July was $248,043, an increase of 1.5 per cent compared to $244,368 in July 2010.

Fraser Valley Real Estate Prices - July 2011 Report click here

Bank of Canada Rate Announcement - July 19, 2011

For the 7th straight time since last October, the Bank of Canada again announced that it is leaving its target overnight interest rate at 1%, and said, "...any further reduction in monetary policy stimulus would need to be carefully considered." The bank indicated in its media statement that the US economy has grown at a slower pace than expected and continues to be restrained by slow growth in employment.

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 – September 07, 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.

Greater Vancouver Real Estate Prices - June 2011

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 3,262 in June, a 9.8 per cent increase compared to the 2,972 sales in June 2010 and a 3.4 per cent decline compared to the 3,377 sales in May 2011.

Home sellers outpaced buyers on Greater Vancouver’s Multiple Listings Service® (MLS®) in June, drawing the market back toward balance this summer.

Click here for the full report.