68 - Friday, July 12, 1996 ~- North Shore News

4, ° “a ver “my pone anes .

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MORTGAGE lending activity
gradually increased through
the second half of 995. and
the beginning of this: year,
according to the latest edition
of Mortgage Market Trends,
released by Canada Morigage
and Housing Corporation
(CMHC),

“This was largely due to
the progressive reduction in
mortgage interest rates over
the past year.” said CMHC
economist. Gilles Proulx,
“Reduced lending costs were
a key factor in the recovery of
mortgage lending and the
resale housing = market.
Additional mortgage lending
could come from the new
home market, which has
shown increased — activity
recently. Lending is expected
to rise between 3 and 5 this
year.”

Also, longer term mort-
gages have made a comeback
over the past decade. This
development is traced to low
inflation in Canada and to
new financial — products.

~ ; Photo aubmitied
RE/MAX Crest Realty’s ball team won the Smiling Buddha trophy at the annual North Shore Realtors’ basebal! finals. team mem-
bers include Joe Liloyd, Jib Street, Jeff Donohoe, Kely Gardiner, David Angel, Brian Rybchinsky, John Lichtenweld, Deanna
Nuesslin, Tracey Thompson, Montie Donelly, John Humphreys, Tammy Bennett, Trevor Inglis, Strato Malamas, Daryl Rusin and

Current low mortgage rates
may also help shift demand
toward longer term = mort-
gages, as consumers often
choose to lock in when mort-

gage rates reach bottom.

Haneef Virani.

(ee)

CE

f

ARBROOKE

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PLEASANT VIEWS
AND FIREPLACE
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#416 - 555 W. 28TH
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Le

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OVERLOOKING THE
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$173,500
One of the finest! Spacious ground level,
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Stet pcen tas is, .

- ALL THE COMFORTS OF HOME
Spacious 2 bedroom suite. 1130 suit, plus 2
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Lonsdale Office 984-9711

st

OPEN SUNDAY 2-4
1159 HERITAGE
BLVD. N.V.

FANTASTIC 3 LEVEL TOWNHOME, lovely fiving
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original owner.

925-29
922-8752

Sussex Group — S.8.C. Realty Corporation
West Van Office 925-2911