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Best mortgage rates for Saskatoon on RateSupermarket.ca
If you are looking to search for the best mortgage rates in Saskatoon, you've come to the
right place. RateSupermarket.ca compares over 55 mortgage lenders andSas katoon
mortgage brokers so you'll be sure to find the best mortgage rates in Saskatoon.
You can either go compare Saskatoon's current mortgage rates now, at
http://www.ratesupermarket.ca/best_mortgage_rates/Saskatoon.html, or look at the latest
Saskatoon mortgage news listed below.
Saskatoon Mortgage Rates Will Remain Relatively Flat

The Canadian Mortgage and Housing Corporation (CMHC) has just released their
Saskatoon Housing Association Market Outlook for Q2 2008. They believe that Saskatoon
mortgage rates are expected to trend marginally lower throughout 2008, but will be within 25-
50 basis points of their current levels.

For 2008 and 2009, the one-year posted mortgage rate is forecast to be in the 6.50-7.50 per
cent range, while three and five-year posted mortgage rates are forecast to be in the 6.75-
7.50 per cent range.

Saskatoon 2008 Housing Outlook

The CMHC reports that following a 30% jump in 2007, Saskatoon's resale market will see
another 12.5% increase in sales to 5,000 units in 2008, making this year the highest number
of sales on record. In 2009, sales will moderate somewhat to 4,750 units in 2009, due to
rapidly escalating prices and weaker speculative demand. Slowing in-migration will also have
its influence.

In 2008 the average residential resale price is forecasted to be 18.1% in 2008, with a slower
increase of 8.2% in 2009. At the end of February 2008, year-to-date average price is still
escalating with a 40% rise topping $262,000. Higher listings and buyer resistance to higher
prices will result in weaker price gains in 2009.

CMHC Saskatoon housing market & Saskatoon mortgage rate forecast
Census Metropolitan
Area

Total
Housing
Starts

MLS
sales

MLS
average
price

Mortgage
rates
(1 year)

Mortgage
rates
(5 year)

Saskatoon
2007
2,380
4,446
$232,754
7.35%
7.54%
2008 (F)
2,150
5,000
$275,000
6.95%
7.01%
2009(F)
2,000
4,750
$297,500
6.83%
6.97%
Source = CMHC
MLS = Multiple Listings Service
of 00

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