Rising Rates

Fixed interest rates started to increase slightly over the past week. Nothing that will cause heart attacks across the country as 5 year rates are still under 3%. If you are considering a home purchase or refinance this summer, NOW is the time to secure your rate! Lenders will hold interest rates for up to 4 months protecting you from any further increased. You can then shop for a home with the security of knowing that you have the lowest rate on the market held for you. The Greater Vancouver housing market is looking "perky" according to the Real Estate Board. Home sales rose by 1% in May and prices have actually risen 1.8% since January. This is more proof that the doom and gloom from the general media is unfounded. If you have mortgage questions, please do not hesitate to contact me. My services are free to you and I can offer you a complimentary mortgage review.