Current Relevant Market Updates
Keeping our Customers Informed
Quick answer:Interest rates are predicted to go up by 1-1.5*% by the end of the year. What this means is that at the higher prediction a $250,000 mortgage will be an extra $200/month in payments - conversely, the same payment you would have now (before rates increase) would only get you a $210,000 mortgage.To simplify further: Either your borrowing power is reduced by $40,000 or if you still want to buy in the same price range it costs you an...[read more]
Source: Anna J. Team Leader/REALTOR Coast Realty Group CV Ltd.
June 4, 2010REBGV Stats May market offers buyers greater selection The number of properties listed for sale in Greater Vancouver continued to rise in May, while the number of sales showed a year-over-year decrease. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,156 in May 2010, a decline of 10.4 per cent compared to the 3,524 sales in May 2009; 5.1 per cent more than the 3,002 sales in May 2008; and 27.1...[read more]