Keep Informed...Read the British Columbia Real Estate Association Mortgage Update -Just Released June/09

Consider it one of the few positives floating in a sea of negatives during the current recession. In a period beset by job losses, drops in home prices and lower consumer confidence, mortgage borrowing costs have dropped precipitously for buyers and owners. This has fueled a modest uptick in homeownership demand from early year lows and provided opportunity for some current owners to refinance at lower rates.

Since the end of April, posted mortgage rates have

settled at decades low levels- precluding any discounts often offered by lenders to clients with preferred credit histories.