British Columbia Real Estate Association issues forecast on whether consumers can expect mortgage rates to stay at current low rates
Low long-term interest rates and heightened competition in the mortgage market pushed both posted and discounted mortgage rates to record lows during the second quarter of 2014, the British Columbia Real Estate Association (BCREA) reported June 11.
The posted five-year fixed rate reached a historical low of 4.79 per cent in May and many lenders have advertised sub-3 per cent five-year fixed rates as well as steeply discounted variable rates, said the association.
To read the BCREA's forecast on whether consumers can expect rates to continue to fall, click here.
