Market Update
  
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,762 in June 2021, a 54% increase from June 2020, and an 11.9% decrease from May 2021. Last month’s sales were 18.4% above the 10-year June sales average.
“We’re now seeing a market that’s beginning to normalize from the torrid pace in the spring. This is making multiple offers less common, allowing subjects to be seen on offers more frequently again, and is making new price records less likely.” Keith Stewart, REBGV economist said.
Want to know more about the market? We can help! Give us a call today and let us show you how we can help you to achieve your real estate goals.
📞 604-787-4691 ✉️ adam@adamlloyd.ca
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Renew or Refinace?
Renew, refinance, equity take out?
If your mortgage term is almost up for renewal, there’s a good chance you’ll be pleasantly surprised with the low interest rates available on the market today. While the pandemic has caused a lot of economic uncertainty, the result has been very low interest rates. In fact, the Government of Canada has indicated that rates will most likely stay low until 2023.
This may also be a great time to consolidate some high interest debt into your mortgage as well. Many things to consider before you sign any renewal letter you receive from your lender.
If your mortgage is up for renewal in the next 6 months, here’s what you should do. Start now. Yes, right now. Getting ahead of your renewal is one of the most important things you can do. This will ensure that you don’t get busy, forget about the deadline, and have to make a rush decision. Or worse yet, your mortgage will renew into a product you didn’t choose for yourself. You’ll want to weigh your options and make the best choice for you. Let's talk. Our Mortgage broker will give you the most suitable solution.
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