Tony’s Latest Updates – February 2, 2016

February 4, 2016 under Tony's Latest Updates

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.

 

Variable: 2.25%

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.

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