fark att SES testers cia ryrensicay: bo tote te arpa geen aptngtegmned MAREE ED So eee ee cage tte poe Real Estate Mortgage update Low rates boost market MORTGAGE RATES are lower than at any time since 1979 and that’s spurring significant i increases in consumer interest and sales activity in most Canadian centres for both new and resale homes, reports Royal LePage Real Estate Services Utd. According to Royal LePage’s latest Canadian Mortgage. Market Bulletin, five-year terms are averaging 12% per cent and three-year terms, 11% per cent. George Cormack, Presi- dent, Royal LePage Residen- tial Real Estate Services, believes the national resale housing market will grow by six, possibly Seven per cent this year as a result of lower mortgage rates. “Relatively stable interest rates, dependent on the ap- 1984 bleak for real estate THE ‘BRITISH’ Columbia real estate market ex- “perienced little relief in 1984.as' ‘industry watchers ‘continued to ‘hope: for. a recovery that has yet to _- materialize. That’s one of the conclusions drawn oo :from the latest Royal LePage Survey of Canadian House Prices, released today. . ‘The quarterly cross-Canada urvey, tracks housing prices in ix categories: detached, three-. bedroom bungalow, detached : >” four-bedroom proach to monetary policy favored in the United States, is one of the reasons for the predicted increased sales activity." ‘ Don Hewitt, the com- pany's residential mortgage spokesman, notes consumers also appear, to believe mor- tgage rates’ have bottomed and could rise slightly as the year progresses. “Borrowers are opting for three and five-year terms when obtaining mortgages. There ‘appears to be a general start to increase in B. c. when the economy of the province experiences a recovery,’’ says . Brian’ Patterson, Royal - LePage. Vice. President, . Western’ Region... 7 . _ * Looking back on 1984, Pat- ’ ‘terson: récalls. that. increased ’ activity ‘in’ the greater Van- couver area in the first quarter Of the. year:indicated:.2.. rovince-wide recovery, But - feeling that mortgage rates won't fall much *.-ther and may even climb s:.2.:.y in the next few months, so bor- rowers are taking tonger terms to protect themselves."' The Canadian Mortgage Market Bullctin is based on information from Royal LePage's residential and commercial managers across the country who are in daily contact with the Canadian money market, Royal LePage Limited, Canada's leacing diversified real estate services organiza- tion, employs more than 9,900 people in approximate- ly 350 offices in Canada, the . United States and Western Europe. : the second quarter brought rising interest rates, high unemployment and continuing labor unrest, which decreased demand for resale housing. _In the third quarter, resale values continued to decline, ., --but-increased. activity in the ' low-! to mid-price range in Vancouver was seen as a sign of the much hoped for recovery. “That trend continued into the fourth‘quarter,” says Pat- terson.:‘‘We continue to see - an increasingly higher propor: : tion of market activity in the lower price ranges,”’ he adds. .. See paga 18 ‘great many rakable a and -Conscientious’ ‘young people are _ ‘delivering our newspaper in “North and West Vancouver. “When our Zone Managers “bring these boys and girls. to attention we invite them to "the News office, introduce “them to several of our staff, + give then - a tour of our various . departments, ‘and feature them as Star Carriers in our Sunday News. If you are a resident of North or West Vancouver and have been receiving excellent delivery service from your News carrier, let us know. dust call us, give us your address, and we will contact your News carrier and do all the rest, Joan Cripps Circulation Department 286-1337 Mon.-Fri. 8:30-4:30 ~ Tee VOCE OF ten tot amb wert VANCOUVER : north’ shore e 17 - Friday, Febrvary 22, 1985 - North Shore News "WHEN YOU CAN AFFORD TO LIVE ANYWHERE, - WHY LIVE ANYWHERE ELSE? Luxury homes for sale in West Vancouver” onthe unspoiled Caulieild Plateau. SAHALEE—A privately ‘FROM $340.000. -- planned community WITH EXCEPTIONAL incorporating traditional © INANCING AVAILABLE. home values with sw innovative architectural design and building techniques. Even from theoutside,each =” luxurious home gives . - SA you a feeling of . individuality and privacy. LUXURY A GOMES s Upper Levels, Caulfeild Drive Exit~ ~ South. : For information 922-1531, or norman See" loo : A OUVADRANT DEVELOPMENT - Pkos CT. “Always todo better. al what we do best :