The variable mortgage discount is better than ever!  You can get as low as prime – 0.70% (must qualify) while the current prime rate is 2.75% trending up from 2.25% from 6 months ago.  I am suspecting another 0.25% increase in the September 8^th announcement due to the Canadian and US currency.  It’d be a 50/50 chance.  The fixed rates have also decreased slightly below 4% for 5 year fixed rates.  The overall interest rates will be trending up, so if you’re buying a home, don’t forget to lock your rate now!

A few other interesting articles and news:

Top 10 Cities to Invest in Canada – The Real Estate Investment Network (REIN) research, again featured on last week’s Financial Post.  Let me know if you’d be interested in reading the entire REIN report.  I will send you one.

Employment Loss and Gain – In July, BC gained 16,000 jobs in manufacture and services, while Canada overall lost net 9300 full time positions.  Economists commented expected slower economy recovery from the initial 2009 jump.   BC and Alberta are the only two provinces with a net gain in employments, which is good news to us. Read more here.

Article courtesy of Christine Chien, Mortgage Professional, 604-603-6189, www.BestRateMortgage.com

The enclosed information while deemed to be correct is not guaranteed.

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