The year has gotten off to a great start! Interest rates are low and buyers are getting into the market. However, Canadian interest rates are only part of the recent mortgage news. Last week the US Federal Reserve announced that they will be keeping interest rates low into 2014. This means that Canada will have little choice but to do the same.
There has also been plenty of speculation about stricter mortgage rules in the near future. Personally, I would not be surprised if amortizations were cut back to a maximum of 25 years in the next 6 months. Even if the rules change, I anticipate we will see very stable interest rates and a stable real estate market well into 2013.
As a special treat, I have put together a short video for you about what is happening in the mortgage industry. If you have any topics you would like me to discuss in my future videos, please feel free to email me.
Please check out my YouTube video here!
http://www.youtube.com/watch?v=wAs8cTXgi-c&context=C3aaf051ADOEgsToPDskIJW0-eenN85t0n30mTVG-v
All the best!
Jamie Moi, AMP
Dominion Lending Centres - West Coast Mortgages
Your mortgage consultant for life
604-534-6504
jamiemoi@jamiemoi.com
And don't forget to Like my Facebook page at
www.facebook.com/JamieMoiMortgageTeam.
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