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B9 - Friday, April 27, 1984 - North Shore News

i o oe See

COMFORTABLE feet are just a sale away, as this shop-
per contemplates orthopedic shoes on sale in this Lonsdale
shop.

Minor increase
from rates

DEMAND FOR mortgage
funds remains steady in most
Canadian centres in spite of
recent increases of three.
quarters to one per cent in
mortgage rates, shows the
latest A-E. LePagae Cana-
dian Mortgage Market
Bulletin

Activity levels remained
high, particularly for resales,
as March began, explains Bill
Hewitt, spokesperson for
A.E. LePage’ Residential
Real Estate Services
However, ‘activity levels did
dechine slightly at mid-month
after the latest round of mor
(gage rate increases’ (activity
levels sall remain well ahead
of last year)

Hopefully, says Hewitt,

mortgage rates are seen to
have stabilized ."'

Home purchasers are op-
ting for mortgages with
three-year terms, says
Hewitt, with five-year terms
following 1n popularity.

Traditionally, as mortgage
tates increase, depositors
become less willing to invest
their funds for the long-term,
says Hewitt

“This hasn't occurred as
yet. Interest rates of 14-15
per cent are the cutoff point
where both purchasers and
depositers retreat.’

In addition, Hewitt ex-
plains that ‘‘vendor assisted
financing comes into play as
mortgage tates inerease
beyond 14 per cent

The higher rates depress
sales dramatically In order
mortgage rates do not in to sell ther homes, vendors
dicate a general escalation “pay down interest rates’
“We see the recent mcreases toffer oa lower tate than
more as an indication that the would mortgage lenders)
cooOnOomMYy IS Moving intooa However. vendors haven't
peniod of adjustment moved oun that direction thus

The decline in residential far bHlewitt adds that there
sales activity alses ais tem

the upward movements in

still as an adequate sapply ot

porary. savs Hewitt “Once funds available for mortgage

the amipact of the recent oon

cieases a8 absorbed Sales See page B11
Should pack up cspecrally of oo.
NOW a new general typing
service on the North Shore
. MEWS photos Eric bE ggertaas Alpha Word Pr essi
SENS beckon to passers by on Lonsdale Avenuc sag Sf
gesting you can buy pusf about an, thing as stops stew for
consumer altention hs ee shoe i. ns Ce eS
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