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Latest News from Scott Yaworski Real Estate Services

from REW.ca,  July 21, 2014  |  By Alyssa Richard

 

On May 1 of this year, the Canada Mortgage and Housing Corporation (CMHC) increased their mortgage default insurance premiums. Mortgage default insurance, which is more commonly known as CMHC insurance, is required of buyers who make a down payment of between 5-19.99% when they purchase a home. The new premiums went up by approximately 15% on average for all down payment scenarios, as follows:

CMHC mortgage insurance premiums

Unfortunately, this information doesn’t...

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The Greater Vancouver housing market enters the summer season with home buyer activity on the rise.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,406 on the Multiple Listing Service® (MLS®) in June 2014. This represents a 28.9 per cent increase compared to the 2,642 sales recorded in June 2013, and a 3.7 per cent increase compared to the 3,286 sales in May 2014.

 

Last month’s sales were 0.6 per cent above the...

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