BC Real Estate Association’s latest Mortgage Update issued in mid-June
“You just might find the answer to: Where do we go after hitting bottom? BCREA anticipates rock-bottom mortgage rates should move up in the quarters ahead—particularly for longer fixed term mortgages. BCREA is predicting a cumulative rate increase of 75 basis-points by the end of 2010 as economic prospects improve and global interest rates rise from record lows. The report indicates that inflation in Canada, although expected to remain relatively low, will start to rise resulting in a modest increase in medium term interest rates.”
As a mortgage broker in Vancouver BC I don't feel that the BCREA's prediction that fixed mortgage rates will rise in the upcoming quarters is very bold. We're regressing back to the mean from all time low mortgage rates.
Brent Irving
Mortgage Expert
Your friend in the mortgage business
Tel: 604-764-6336
Fax: 604-541-6323
Toll Free: 1-888-665-1344
Email: birving@dominionlending.ca
Web: www.BrentIrving.ca
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