Mortgage rates drop again!I am asked the question is now a good time to look to buy real estate? My answer is always an emphatic...Yes! The market in Kelowna has begun to level somewhat as our listing inventory has increased and sales have decreased for the first quarter of this year. With The Bank of Canada announcing another reduction to prime rate, lenders have begun to adjust their fixed five year terms accordingly. It would appear that real value can be found in variable lending rates. For the average Buyer a variable rate makes the most sense as long as rates continue to go down or level off. Most lenders will allow a Buyer to switch over to a fixed rate mortagage with no penalties. Real Estate continues to generally be a good investment and with interest rates staying low well I think you get the picture... Here is a great article from CBC.ca Sincerely, Jason Neumann
Posted by Jason Neumann
on April 10, 2008
Tags:
B.C. Economy Canadian Economy
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