Who's Saying What About the Canadian Lending Rates

This just in:

From: Centum Pacific Mortgages - Doug Atkinson To: Century 21 Agents Received: Friday, May 29, 2009 3:16:13 PM Attachments: Hi there, I hope everyone is having a very busy week. Jut a heads up for your clients sitting on the fence. Closed fixed interest rates have started to increase today. Was yesterday the bottom of the market? It could be. The BOND market is very active, the Canadian dollar is climbing and so are gas prices. So currently we have a 3.79% for a five year closed. Effective this morning, without notice, the Lenders at 3.54% have eliminated that product.

Which follows up this message from late this morning:
Happy Friday! Just a heads up---- it is very likely that mortgage interest rates will be going up in the next few days…. Our economists are watching the bond market, and the 5 yr bond rate is up… give your buyers the info to lock in soon… we can guarantee the rates for 90 days…we have not yet put our rates up yet today, but have heard that other lenders may be doing so….
Have a great weekend!
Pam:)
Pamela Owen RBC Mortgage Specialist RBC Royal Bank T. 250-260-0008 F. 250-260-4005 pamela.owen@rbc.com pamelaowen.com
Meanwhile Stephanie Ross from TD Canada Trust sends:
Weekly Watch
May 29, 2009

Do you have a client who needs a mortgage approval?
Click Here

Mortgage & Home Equity Line of Credit Rates1Effective May 27, 2009
Conventional and NHA Mortgages2
Posted Rates
Lowest Rates3
6 Month Convertible
4.75%
4.75%
1 Year Open
6.55%
6.55%
1 Year Closed
3.90%
2.90%
2 Year Closed
4.05%
3.05%
3 Year Closed
4.15%
3.15%
4 Year Closed
4.84%
3.79%
5 Year Closed
5.25%
3.89%
4% CashBack - 5 year term
5.25%
5.25%
5% CashBack - 6 year term
6.10%
6.10%
5% CashBack - 7 year term
6.60%
6.60%
5% CashBack - 10 year term
6.70%
6.70%
6 Year Closed
6.10%
5.10%
7 Year Closed
6.60%
5.60%
10 Year Closed
6.70%
5.70%
Variable Interest Rate Mortgage4
Posted Rate
APR6
5 Year Closed at TD Mortgage Prime5
2.85%
2.85%
5 Year Open at TD Mortgage Prime5
3.25%
3.25%
Home Equity Line of Credit at TD Prime7
3.75%8
3.75%8
1. Rates subject to change. Some conditions apply. Available for residential properties only and is subject to meeting TD Canada Trust credit granting criteria 2. Interest calculated semi-annually, not in advance. 3. These rates are discounted rates and are not available with any other interest rate discounts, promotions or offers. Offer may be changed, withdrawn or extended at any time without notice. 4. Rates calculated monthly, not in advance. Rate changes when TD Mortgage Prime changes. 5. TD Mortgage Prime as of May 1, 2009 is 2.25%. 6. Assumes interest rate does not vary over the term. 7. Rate changes when TD Prime changes. Interest calculated daily. 8. TD Prime Rate as of May 1st, 2009 is 2.25% per annum.
I have a call in to my lender... I suggest everyone in a variable mortgage product call their lenders as soon as possible.
Warmest regards,
Brell ~ Brenda Ellis REALTOR with Okanagan Heat @ Century 21 Executives Realty Ltd

Neighbourhood and Price Point Real Estate Searches

We are very pleased to announce that we have added Neighbourhood Searches and also Price Point Vernon Searches to our website - All Century 21 properties within these catagories are just a click away. Bookmark the pages of your favorite neighbourhoods and refresh them to see new properties for sale each time you visit.

We are actively working to add this functionality to each of our Neighbourhood Pages on OkanaganHeat.com as well
If you have a specific search - we can help you set up a personal search result page that you can check whenever you like! Contact us to find out how!
Here are links to these new search results - All should open in new windows for easy navigation.
Adventure Bay
Alexis Park
Armstrong Spallumcheen
Bella Vista
Cherryville
Coldstream
Enderby / Grindrod
East Hill
Foothills
Harwood
Lavington
Lumby Valley
Mission Hill
Mabel Lake South
North BX
Okanagan Landing
Okanagan North
Predator Ridge
South BX
Salmon Valley and Falkland
Silver Star
South Vernon
Swan Lake West
Trinity Valley
Westmount
Whitevale

Click on the links below to search all Century 21 properties by price in Vernon BC
Under $200,000
$200,000 - $300,000
$300,000 - $350,000
$350,000 - $400,000
$400,000 - $450,000
$450,000 - $500,000
$500,000 - $550,000
$550,000 - $600,000
$600,000 - $700,000
$700,000 - $1,000,000
$1,000,000 - $2,000,000
$2,000,000 and up
Warmest regards
Brell ~ Brenda Ellis REALTOR with Okanagan Heat @ Century 21 Executives Realty Ltd

North Okanagan Real Estate Statistics for April 2009

April brings more sales action into the North Okanagan Real Estate Market - with increased action across the property spectrum. Here is our monthly CLUE as to what happened:

Residential

New Listings
198
Listings Sold
71
Median Price
$345,000
Range
$145,000 -$1,225,000
Days to Sell
94
Range
0 - 401
Inventory
774
Hottest Neighbourhood
Armstrong

Condo / Apartment

New Listings
14
Listings Sold
9
Median Price
$144,000
Range
$67,500 - $195,000
Days to Sell
126
Range
37-287
Inventory
158
Hottest Neighbourhood
Centennial Drive

Condo / Townhouse

New Listings
36
Listings Sold
13
Median Price
$316,800
Range
$151,000 - $460,000
Days to Sell
137
Range
20-308
Inventory
224
Hottest Neighbourhood
Okanagan Landing

Building Lot

New Listings
72
Listings Sold
11
Median Price
$192,500
Range
$125,000 – 330,000
Days to Sell
169
Range
36-434
Inventory
390
Hottest Neighbourhood
Coldstream
Warmest regards,
Brell ~ Brenda Ellis REALTOR with Okanagan Heat @ Century 21 Executives Realty Ltd