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Spring has sprung and we’re offering Cash Back* on purchases and switches (apply by Jun 30)
- Clients can receive up to $4,200* Cash Back with competitive mortgage rates (*see attached for terms and conditions)
- Spring is the busiest time of year for purchases. Your clients are buying, why not earn a referral and have BMO offer them competitive financing options? All with non-solicitation to protect your business.
- Many clients are renewing over the next few months and will face a cash flow shock from higher payments due to higher rates. Talk to me about solutions to address this growing client concern.
Market update:
- Has the market bottomed??? Lower Mainland home prices and sales have both increased M/M for the last 2 consecutive months (although still down from the peak of last year). Check it out:
- Greater Vancouver: https://www.rebgv.org/market-watch/monthly-market-report/march-2023.html
- Fraser Valley: http://www.fvreb.bc.ca/
- Mortgage rates little changed from last month
- As expected, no rate change from Bank of Canada today. See insightful commentary from BMO Chief Economist Douglas Porter, CFA: Bank of Canada: Holding Pattern (bmo.com)
Mortgage Rates Apr 12/2023 (subject to change without notice) |
Spring 2023 Cash Back Promotion Mar 13- Jun 30 (app date) |
Prime rate 6.70% | 1yr | 2yr | 3yr | 4yr | 5yr | 5yr | |
Type /Yr | fixed | fixed | fixed | fixed | fixed | variable | |
Default Insured 25yr < 20% down | 5.99% | 5.59% | 4.99% | 4.96% | 4.84% | 6.18% | |
25yr amortization > 20% down | 6.07% | 5.65% | 5.09% | 5.07% | 4.98% | 6.29% | |
30yr amortization > 20% down | 6.07% | 5.70% | 5.18% | 5.17% | 5.08% | 6.34% | |
25yr Readiline (w/HELOC @ P+0.5%) | 6.07% | 5.65% | 5.09% | 5.07% | 4.98% | 6.29% | |
30yr Readiline (w/HELOC) @ P+0.5%) | 6.07% | 5.70% | 5.18% | 5.17% | 5.08% | 6.34% | |
| | | for rentals add 0.10% |
