Without a doubt, spring has sprung in real estate markets across the Lower Mainland. Open houses are seeing, at times, 100 people though the door in the first hour. If you want to sell anything resembling affordability, what are you waiting for?
Home buyers are back thanks to increased liquidity in global central banks, Coronavirus scares and weakening economic growth. Bond yields have tumbled in response causing the 5 year fixed mortgage rates to come down to about 2.79%. Residential mortgage credit growth is now growing faster than before the introduction of the mortgage stress test.
Watch the video for more insights including insurance woes and presale market updates.