January 2016 real estate results are out and as you probably could expect sales and prices are up. Last month’s sales were up 32% over January 2015. The benchmark price for a detached property in Metro Vancouver now sits at $1,294,000. Did you know that average price of a detached home in Tsawwassen increased 72% within the past 13 months.
Click here if you would a copy of the Real Estate Stats.
Over the past few months fixed term mortgage rates had inched higher reaching near 3%. The increasing trend seemed short lived given that fixed rates are once again headed down. Best 5 year fixed is now being offered as low as 2.54%.
With real estate values growing and rates falling, it is a fantastic time to refinance your mortgage and consider using funds to purchase an investment property and earn positive cash flow. We now offer real estate services. We have a competitive advantage when helping customers buy a home and within the past year, we have helped many of our clients purchase a property at below market prices.
5 year fixed: 2.54%
3 year fixed: 2.29%
Line of Credit: 3.2%
35 year amortizations are available which helps keep payments affordable.