Mortgage Associations Recent Stats: Real Estate Still A Good Buy
The Canadian Association of Accredited Mortgage Professionals (CAAMP) today released their latest set of statistics regarding mortgages and real estate in Canada. In summary:
- Housing values in Vancouver are up 8-13% from last year
- Housing starts in Vancouver are down over 20% from last year
- Mortgage rates continue to remain quite low by historical standards
Bond rates also have softened slightly in the last month, so fixed rates look safe at current levels at the moment, and a couple lenders have reduced them slightly.
Variable mortgage rates have had signs of increasing lately, with several lenders increasing their rates in relation to prime due to slim profit margins on their variable mortgage rates.
You can view more information on the statistics here.
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