Residential Mortgage Rates
Effective June 3, 2019
|
Term (Fixed) |
PURCHASES and REFINANCES (25-year amortization) |
RENTAL properties |
|
1 Year |
3.29% |
3.44% |
|
2 Year |
3.14% |
3.29% |
|
3 Year |
2.89% |
3.04% |
|
4 Year |
3.14% |
3.29% |
|
5 Year |
2.89% - 3.29% |
3.19% |
|
5 Year (high-ratio) |
2.89% |
N/A |
|
7 Year |
3.69% |
3.84% |
|
10 Year |
4.09% |
4.24% |
|
Term (VRM) |
|
|
|
5 Year |
P - 0.50% - P - 1.00% |
Prime - 0.50% |
|
3 Year |
P + 0.15% |
N/A |
Rates are subject to change without notice.
* OAC, E, & OE
|
Prime Lending Rate |
3.95% |
|
Benchmark Rate |
5.34% |
Metro Vancouver real estate is experiencing a "buyers market" ...
According to the Real Estate Board of Greater Vancouver, the total number of homes currently listed for sale in Metro Vancouver is 14,685, the highest number of homes on the market since September 2014 (14,832). This is in contrast with only 2,638 home sales in the region in May 2019.
It might be worth preparing a bidding war battle plan to improve your odds of getting the home you want - without pushing past your affordability threshold.
Here are five strategies to keep you on track and on budget.
- Have your financing in place Having your financing lined up assures sellers that you're qualified and won't waste their time. Contact our office today to get pre-approved!
- Don't fall in love with any home until you own it! Bidding as if your happiness depends on that one perfect house is the surest way to end up with a property you can't afford.
- Be Mr. Nice Guy You may beat a higher offer simply by being flexible in light of the seller's conditions.
- Be ready for a rebound Have your realtor check in just in case the winning offer falls through.
If you have any questions, please don't hesitate to contact us!
Contact us with any mortgage or insurance questions. We're here to help!!
(604) 313-3199
