Tag Archive: condos

Despite record-low short-term interest rates, most banks are offering junk 1-, 2- and 3-year rates on uninsured mortgages through the broker channel. We’re seeing 5-year variable pricing as low as 1.45% or less at major banks. Yet, on a one-year fixed, for example, they quote mortgage brokers over 2.40%. That’s well above the discretionary rates bank customers are reporting to...

—The Mortgage Report: Weekend Edition— Some commentators proclaim that home “prices can only go up,” but HouseSigma’s Market Temperature gauge shows it’s not peaches and cream everywhere. Market Temperature gauges the number of condos sold versus the number of active condo listings (inventory). Month-to-date, it’s plunged to the lowest level in HouseSigma’s records. If we close October at these levels...