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

The Canadian Mortgage and Housing Corporation (CMHC) has reported in their latest
Surrey Housing Association Market Outlook that posted mortgage rates eased by about 50
basis points in the first four months of this year, although rates in late April were 30 to 35
basis points higher than they were 12 months prior. Mortgage rates are expected to trend
marginally lower throughout 2008, but will be within 25-50 basis points of their current levels.

For 2009, posted mortgage rates will begin to drift up slightly as the year progresses. 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.

CMHC Surrey housing market & Surrey mortgage rate forecast
Unfortunately, CMHC doesn't report directly on Surrey's housing or mortgage outlook, so
we've listed the Vancouver and Victoria information below:
Census Metropolitan
Area

Total
Housing
Starts

MLS
sales

MLS
average
price

Mortgage
rates
(1 year)

Mortgage
rates
(5 year)

Vancouver
2007
20,736
38,978
$570,795
7.35%
7.54%
2008 (F)
18,500
36,000
$615,000
6.95%
7.01%
2009 (F)
18,000
35,000
$645,000
6.83%
6.97%
Victoria
2007
2,579
8,403
$466,974
7.35%
7.54%
2008 (F)
2,275
7,700
$487,000
6.95%
7.01%
2009 (F)
1,845
7,300
$498,000
6.83%
6.97%
Source = CMHC
MLS = Multiple Listings Service
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