The fixed rates may be coming down a little more, RBC finally lowered their 5 year fixed rate by 10 basis points. Their mortgage rates are still much higher than other non branch lenders though.

The variable rates are still constant at Prime minus .75% or better.

An article yesterday stated that sales numbers have dropped but prices are still increasing, mostly in due to Vancouver’s values increasing. The strong market on the mainland usually keeps Victoria’s strong as well.

Please feel free to email or call if you have any questions about financing or the real estate market.