60 - Friday, May 18, 1990 — North Shore News

REAL Estate

Niortgage demand to ease

MORTGAGE CREDIT de-
mand is expected to remain
strong during the first half
of 1990 as a result of the
high levels of housing mar-
ket activity during the fourth
quarter of 1989 and fizst
quarter of 1990.

According to Canada

Mortgage and Housing Cor- -

poration’s (CMHC) quarter-
ly Mortgage Market Trends
report, mortgage credit de-
mand will ease during the
second half of the year due
to the impact of higher in-
terest rates in the first part
of 1990 and siower economic

A decline in interest rates
in the second half of 1989
helped to sustain housing
market activity and mor-
tgage credit demand. Ac-
cording to Mark Burchin-
shaw, CMHC's chief
economist, ‘‘The demand
for long term mortgages w.s
very strong, especially for
five-year term mortgages,
because borrowers could
take advantage of a one per
cent difference between one
year rates (12.75 per cent)
and five year rates (11.75 per
cent).””

Statistics from Canada
Mortgage and Housing Cor-

poration’s NHA mortgage
insurance indicate that the
Proportion of borrowers
preferring five year mor-
tgages increased to 49 per
cent in 1989 compared to 41
per cent in 1988. Anecdotal
evidence also indicates that
more conventional mor-
tgages were five year terms.

Consumers locked into
lotiger-term mortgages in
order to avoid the future
impact of interest rate in-
creases and to take advan-
tage of the relatively lower
rates offered on five year
terms.

&
Z
DAKIN |
925-1111 et |
926-0067 | gm

Answering Service: 645-3622
OPEN SATURDAY & SUNDAY 2-4

CHARM & CHARACTER
PERSONIFIED!

i Three bedroom home in central 3380 Edgemont. Ail the extras, e.g. alcoves

# and coved ceilings to give it added space and charm. The garden, especially

B the back, is like being ina private fairytale of quiet beauty. Call anytime to view.
Vendor motivated. Asking $312,350.

1571 DEEP COVE ROAD
$239,000 OFFERS

OPEN SATURDAY & SUNDAY 2-4

; Live with your mother, brother or husband, but separately. Both
i floors have two bedrooms. Sound from road not a problem. Skylights
f and other extras. Must be seen.

Robert W. Pearson
Office: 263-1433
Pager. 631-9407

GALIANO ISLAND

.98 ACRE

B View of Active Pass, 4 G.PM. good drinking water, electricity & phone at road.

QUIET CUL-DE-SAC Easily cleared, road into property. 45 minutes from mainiand.

LOCATION

Natural woodlands setting adja- §
cent to park. Close to gait & coun-
try club. Treated ceuar shak2 roof,
2x6 framing, cedar siding, 4
bedrocias, sauna in master en-
suite. Generous use of oak
throughout. Huge dream kitchen,

" Jenn-Air appliances, huge games
room and family room. Call now.

, 4033 Do!ar Road.

LIKE NEW DOUBLE-WIDE

IN CAPILANO PARK:
Sold ¢ CALL ME TO VIEW

ton group-her
| ANJNDERENDENT

OUTSTANDING

VALUE AT
$288,000!

An extraordinary 4 bedroom home §
that shows practically new. Owner
has spent thousands ir renovating
and fully developing the ground
floor, Some of the luxurious
features include cultured marble
counters & sinks, mirrored closet
doors, large master bedroom with

a six piece bathroom, security §
alarm system and quality tiling J
throughout. There’s aiso a
beautifully landscaped backyard §
with an inter-lock brick patio and §
towering evergreens. Calt

EUGENE WOHG
256-8973 Mobile

SPECTACULAR
WATER VIEW

Sutton group - sentinel realty
¢ .AN INDEPENDENT MEMBER BROKER *

KIM THOM
Pgr: 686-: 08

el

$179,900 JJ

* Contemporary home nestled back on a splendid 200 fovi lot.

* Extensive use ol marble and glass blocks.

x High archways and vaulted living and dining rooms.

%* 3 bedrooms plus den or 4 bedrooms.

* Magnificent master suite contains over 530 sq.ft.

* Large bright kitchen with styiish multi-lacquered cabinets. ;

* 2800 sq.ft. finished area and 1500 sa ft. potential developmert.

* This dream home contains many more fabulous fealures.

*Sce you at 382 North Dollarton Hwy. $438,000. MLS
EUGENE WONG — Mobile 256-8979

245 W. 22ND S7., NV.
* 4-5 BEDROOMS
© QUIET CUL-DE-SAC
¢ GREAT CENTS.
LOCATION i
© BRIGHT, UNDEVELOPED §
BASEMENT :
© SOUTH-FACING
BACKYARD
CALL TODAY