For the first time since September 2010 the Bank of Canada cut rates a qurter of a point to 0.75%. Canadian banks are expected to follow , with a reduction in mortgage rates and loans.
Rates are expected to stay low for this year, before rising in 2016. All depends on the price of oil.
This presents a great opportunity for Vancouver real estate buyers to purchase a condo and lock in their mortgage.
For more info on mortgages contact Jeff Fraser
Have a mortgage question? Give me a call at 604-328-0077