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Ozzie Jurock: December Real Estate Numbers
Date: Wednesday, January 14, 2009 (Length 4 min 12 secs)
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Latest Mortgage Rates:
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As the roller-coaster ride continues with fixed rates, bond yields dropping from about 2.7% 4 weeks ago down to 2.44% as of Feb 3rd has prompted some lenders to reduce their fixed rate products, says Kyle Green of Mortgage Alliance (1-888-531-8890 or cell 604-551-8976). As a side note, a recent study found that currently 68% of Canadian homeowners have fixed rate mortgages. Of the 32% who are on a variable rate mortgage, 88% of those people have saved money by sticking with a variable rate over the past 10 years. Of course, this has been during a period in which we have seen 9/11, the tech stock bubble and the sub-prime meltdown in the US keep Prime lending rates very low. During what could be an inflationary period over the next 5 years, this should be more of a crap-shoot moving forward.

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Weekly Real Estate Deals:
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1. Quesnel, 2 bedroom unit, solid 3 storey building, No qualifying $20,000 down, balance at 5%, Price $72,000;

2. Kimberley, 2 bedroom suite, mountain view. Price $132,000.

There is no charge to be featured here. All properties here seem like a good deal to us, but we have not seen them. We make no warranties of any kind. You must check it out yourself. You are welcome to submit what you think is a good deal (on low down payment, price etc.). Post/look up all your deals on the Facts by Email deal section - your own real estate craigslist.

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