Market Update
- 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.
Curious ❓❓
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
Cell: 778-847-3289
www.GreenMortgageTeam.ca
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 !
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.