Banks of Canada Interest Rates Remain Unchanged.
Our bank prime rate remains at: 2.70%
Variable Rate Mortgages: 2.2%
5 year term rate specials at: 2.59%
We believe the low rates continue to fuel our local South Surrey/White Rock Real Estate. We are experiencing a shortage of residential homes and building lots. The sellers are reaping the rewards, with this continued shortage. It is causing multiple offer situations and increased pricing. Due to simple affordability, buyers have been purchasing townhomes. With the townhome market moving, this has also boosted the demand for the lower priced condos.
At this point, the Bank of Canada projects continued steady growth in the economy with a potential rate increase in late 2016 or early 2017.
For all your real estate and mortgage needs, please feel free to contact:
The Walker Real Estate Team
604-889-5004 or info@WalkerRealEstate.ca
HomeLife Benchmark Realty Corp.
Dominion Lending Centres, Valley Specialists