Summer may be winding down, but mortgage rates are heating up!
3-year fixed: as low as 4.00%
5-year fixed: as low as 4.14%
Variable rate: as low as 4.25%
Is this improving interest rate environment fuelling a real estate turnaround?
According to Andrew Lis, GVR’s director of economics and data analytics:
“The August sales figures add further confirmation that sales activity across Metro Vancouver appears to be recovering, albeit somewhat slowly, from the challenging first half of the year. Sales in the detached and attached segments are up over ten per cent from last August, which suggests buyers shopping in more expensive price points are re-entering the market in a meaningful way.
The lesson? Don’t wait to buy real estate—buy and wait.
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It’s not just rates, but the overall lending environment is improving. Restrictions are easing, product options are expanding, and new opportunities for Business-for-Self clients are emerging. These may be incremental changes, but they’re steps in the right direction. As lending conditions improve and rates continue to ease, expect the real estate market to gain even more momentum.