Best mortgage rates - Regina

If you are looking to search for the best mortgage rates, in Regina you've come to the right place. RateSupermarket.ca compares over 55 mortgage lenders and Regina mortgage brokers, so you'll be sure to find the best mortgage rates in Regina.

You can either go compare Regina's current mortgage rates now or look at the latest Regina mortgage news listed below.

Regina Mortgage Rates Will Remain Relatively Flat

The Canadian Mortgage and Housing Corporation (CMHC) has just released their Regina Housing Association Market Outlook for Q2 2008. They believe that Regina mortgage rates are expected to trend marginally lower throughout 2008, but will be within 25-50 basis points of their current levels.

For 2008 and 2009, the one-year posted mortgage rate is forecast to be in the 6.50-7.50 per cent range, while three and five-year posted mortgage rates are forecast to be in the 6.75-7.50 per cent range.

Regina 2008 Housing Outlook

The CMHC reports that following a 30% jump in 2007, Regina's resale market will see another 12.5% increase in sales to 5,000 units in 2008, making this year the highest number of sales on record. In 2009, sales will moderate somewhat to 4,750 units in 2009, due to rapidly escalating prices and weaker speculative demand.

In 2008 the average residential resale price is forecasted to be 18.1% in 2008, with a slower increase of 8.2% in 2009. At the end of February 2008, year-to-date average price is still escalating with a 40% rise topping $262,000. Higher listings and buyer resistance to higher prices will result in weaker price gains in 2009.

CMHC Regina housing market & Regina mortgage rate forecast

Census Metropolitan Area		Total Housing Starts	MLS sales	MLS average price	Mortgage rates (1 year)	Mortgage rates (5 year)
Regina	2007	1,398	3,957	$165,613	7.35%	7.54%
	2008 (F)	1,275	4,000	$200,000	6.95%	7.01%
	2009(F)	1,175	3,800	$215,000	6.83%	6.97%
Source = CMHC MLS = Multiple Listings Service