Canada's long time Finance Minister Mr. Flaherty and Bank of Canada's much respected Mr. Carney are no longer part of the mortgage rate decision making club.

This past couple of weeks the Canadian banks have dropped their 5 year term back under 3% and BMO has published a lengthy article on why the real estate buyer should get a fixed rate, vs variable.

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Buying or selling vancouver real estate? Put Maggie's decades of hyper-local experience to work for you today! No-one knows Vancouver's waterfront neighbourhoods better!

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As the population of Greater Vancouver continues to grow, so does the demand for phones.

As of two days ago Greater Vancouver has a new area code - 236.

 

Buying or selling Vancouver real estate? Put Maggie's hyper-local information and extensive knowledge to work for you!

I've watched Vancouver's waterfront neighbourhoods grow and evolve!

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Please visit our Open House at 2802 193 AQUARIUS MEWS in Vancouver.

Open House on Saturday, March 22, 2014 3:30 pm - 4:30 pm

Welcome home to 2802-193 Aquarius Mews in Vancouver's Yaletown. Resort living with s.w. jaw dropping water and marina views from all rooms, featuring floor to ceiling windows. Top notch amenities, 24 hr concierge, pet and rental friendlybuilding. Steps to the waterfront, the seawall and Skytrain. Walk to work Downtown. Enjoy the fabulous restaurants, shopping, water sports, school, daycare facilities, community centre and and and! Enjoy a cocktail sitting on your Marinaside Resort balcony and watch the boats go by. Kitchen features granite countertops. Well laid out 2 bedroom & den. Waterfront living at its best! 02 suites are very seldom available. Tenanted so notice required. Open Sat March 22, 3:30-4:30pm. Walk core 95.

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Last Fall the mortgage interest rates increased but now they have dropped back and some banks are offering special deals, such as HSBC

 

4 years fixed at 2.89%.

Bank will pay appraisal fee and legal fees depending on the size of the mortgage.

mtg $150k-$500k    pay $300

$500k-$1mm pay $500

greater than $1mm pay $750

 

Contact:

Michael ML Chan
Premier Relationship Manager, HSBC Bank Canada
Mutual Funds Advisor, HSBC Investment Funds (Canada) Inc.

Granville & 12th   10030
2735 Granville Street Vancouver, BC V6H 3J1

P: (604) 678-6035
F: (604) 678-6044
E: michael_ml_chan@hsbc.ca


March 18, 2014

 

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Please visit our Open House at 2802 193 AQUARIUS MEWS in Vancouver.

Open House on Saturday, March 22, 2014 1:30 pm - 3:30 pm

Welcome home to 2802-193 Aquarius Mews in Vancouver's Yaletown. Resort living with s.w. jaw dropping water and marina views from all rooms, featuring floor to ceiling windows. Top notch amenities, 24 hr concierge, pet and rental friendlybuilding. Steps to the waterfront, the seawall and Skytrain. Walk to work Downtown. Enjoy the fabulous restaurants, shopping, water sports, school, daycare facilities, community centre and and and! Enjoy a cocktail sitting on your Marinaside Resort balcony and watch the boats go by. Kitchen features granite countertops. Well laid out 2 bedroom & den. Waterfront living at its best! 02 suites are very seldom available. Tenanted so notice required.

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Current mortgae rates for Vancouver home buyers, at March 14, 2014:

  • l year 2.88%
  • 3 year 2.58%
  • 4 year 3.08%
  • 5 year 2.93%
  • 10 year 4.38%
Most banks will hold the rate for 120 days

Current inflation 1.5% (January)

5 Year bond yield 1.58%

Next Bank of Canada meeting is April 16th

Buying or selling Vancouver real estate? Put my hyper-local knowledge to work for you!

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The Bank of Canada announced today that it is maintaining its target for the overnight rate at 1%.and noted that the Canadian economy is preceding as projected by the Bank in January's Report.

While inflation and growth were slightly higher than expected in the fourth quarter of 2013, the Bank expects slack in the economy to keep inflation below the Bank's 2%target this year. 

Speculation of an impending rate cut by the Bank of Canada has receded in recent weeks following a modest acceleration of inflation and stronger than expected economic growth.

The uptick in inflation and growth is in part due to a sharply lower Canadian dollar and policymakers at the Bank have welcomed the decline in the dollar.

A depreciation in the currency tends to be inflationary and impacts consumer prices in fairly short order while traditional monetary policy, through adjusting the overnight interest rate, impacts inflation only with a significant lag of 12 to 18 months. 

The lower loonie is helping to pull inflation higher, so its expected the Bank will likely maintain its target rate at 1 per cent until 2015 when economic conditions may require a gradual increase in the overnight rate. 


March 5/14

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Many Vancouver real estate buyers remodel the homes they home. Sometimes it's a complete fixer-upper and sometimes it's a partial one. Below are some estimate guidelines for cost of renovating.

 


Floors

  

Hardwood Floor Refinish

$2-$5 / sq. ft

Carpet-clean

$100 / room

Ceramic Tile

$5-$10 / sq. ft


Kitchen

  

Renovation

$7,500 +

Counter-laminate

$40 / lin. ft

Kitchen counter-marble

$75 / lin. ft


Security System

  

Alarm System

$2,500

Alarm Monitoring

$30 / month


Deck

  

Pressure Treated

$15-$25 /sq. ft

Custom Designed & Built

$50-$75 / sq. ft.


Windows

  

Skylight

$750 and up

Thermal Glass (existing frame)

$30 / sq. ft.

 

 

Buying or Selling Vancouver real estate? Put Maggie's decades of hyper-local experience and knowledge to work for you! Call for a free consultation today! 604-328-0077

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Effective May 1, 2004 Canadian mortgage loan insurance preiums for homeowners and buyers of 1-4 runit rental properties. The increase applies to mortgage loan insurance premiums for owner occupied, self-employed and 1-4 unit rental properties, including low ratio refinance premiums. This does not apply to mortgages currently insured by CMHC.

 

For the average Canadian home buyer requiring CMHC insured financing, the higher premium will result in an increase of approx $5 to their monthly mortgage payment and it's not expected to have a material impact on the housing market.

 

CMHC reviews its premiums annually and will make announcements on them in the first quarter of each year. 

 

BUYING OR SELLING VANCOUVER REAL ESTATE? PUT MY HYPER-LOCAL EXPERIENCE TO WORK FOR YOU!

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