- activity levels for buyers are starting to come back on the market after summer holiday
-monthly supply continues to steadily decline over the last few months and its continues to decline
- there is an underlying pent-up buyer demand which could lead to a busier Fall market
- more consumers are looking into back to back purchase & sale as the market is experiencing compression
- more subject to sales with time clause offer are being presented ; make sure you work with an experienced realtors to make sure everything is well looked after.
If you are looking to get into the market or move up to a larger home, this is a great opportunity ⚡️ let’s get together & talk about it !
Dexter Realty Charity
At Dexter Realty, we have a long history of supporting our communities and one of the charities that we have committed to is Ride to Conquer Cancer for BC cancer research .
This past weekend , 15 of our Dexter Colleagues got on their bikes riding 227 km. Over the past year, Dexter Realty had raised over $61,000 and over $500,000 within the last decade. We are so proud to participate and raise funds for such worthy cause .
The Bank of Canada is lowering the qualifying rate to 5.19% for mortgage stress test. This is a reduction of 0.2%. This could potentially increase a buyer’s max borrowing power by less than 1%.
There is another way that buyers may increase their borrowing power by 20% with competitive interest rates.
Thinking of a move ❓❓
This is a perfect time to making your homeownership dream into a reality !
Learn more with Keaton Kirkwood at The Green Team Mortgage.
Keaton Kirkwood-Mortgage Broker
DLC Homeline Mortgages
Current 5 Year Bond rate is down to 1.36%, interest rate should remain low.
Rate drop is forecasted in near future, estimated a quarter point rate cut for Bank of Canada.
Current Special 2.84 %for a quick close mortgage which is about $413/month of mortgage payment for every $100,000 borrowed.
High-ratio mortgage rate -2.69%which is around $457/month of mortgage payment with 25 years amortization for every $100,000 borrowed or $451/ month of mortgage payment for 30 years amortization length.
Conventional rate - 2.79% which is around $435/month of mortgage payment for every $100,000 borrower with 30 years amortization period
Variable rate - 2.95% which is about $471/Month of mortgage payment for $100,000 you borrow with 25 years of amortization period or $410/month of mortgage payment for 30 years of amortization period
We are at a 35 years low in mortgage growth as a result of the implementations of mortgage stress test from one year ago.
Rate has been holding fairly steady and there are a good supply of housing options on the market.
If we can be of any service to your real estate needs, please don’t hesitate to let us know. We ♥️ to hear from you!!
Have a great week !
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