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Mortgage Rate Update

This just in.
A signal from the Bank of Canada that it’s not raising its key lending rate any time soon, coupled with the likelihood of falling mortgage rates, could be enough to keep the latest housing rally going.
There have been signs the housing market is in recovery mode with year-over-year sales rising in many markets, albeit generally below 10-year averages. Analysts have called it a short-term blip caused by consumers rushing to buy to take advantage of pre approved mortgages signed 120 days ago when long-term rates were lower.
But with the Bank of Canada signalling last week it won’t be raising rates – its neutral stance could even mean lower rates – consumers can safely slide back into variable mortgages tied to prime that track the central bank rate.
The short-term rate option and the possibility long-term rates will follow has people worried the market may be recovering too fast for the taste of Ottawa, leaving Finance Minister Jim Flaherty with no choice but to tighten lending rules again.


This article was provide by Pat Pelletier
info@patpelletier.com
http://www.patpelletier.com

Kind Regards,
Tibor Bogdan

 

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This past 7 days we had 58 new listings.
35 Residential detached and 23 condominiums/town homes.

Here are all the new listings by the price ranges:
Residential Detached listings that have come on the market in the
last 7 days:

$300,000 - and under Click Here: http://goo.gl/ImYqXx

$301,000 to $400,000 - Click Here: http://goo.gl/W8CUim

$401,000 to $500,000 - Click Here: http://goo.gl/pzVRLE

$501,000 to $600,000 - Click Here: http://goo.gl/L5dcmN

$601,000 and up -         Click Here: http://goo.gl/Gd3NSW

Here are all the new Residential Attached Listings that have come
on the market in the last 7 Days.

$250,000 and less Click Here: http://goo.gl/qf1ePr

$251,000 and up   Click Here: http://goo.gl/VAgdUh

If you'd like to see any of these homes - I'm holding a
Chilliwack House Tour weekly for the month of November 1.
Tours times are: Every Saturday 10am - noon. Click here to join us:
http://SearchChilliwackHomes.com/area/chilliwack/tour.htm

I'll be back next week with all the new listings.
Warmly,

Tibor Bogdan
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