Best mortgage rates - Surrey

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

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

Surrey Mortgage Rates Will Remain Relatively Flat

The Canadian Mortgage and Housing Corporation (CMHC) has reported in their latest Surrey Housing Association Market Outlook that posted mortgage rates eased by about 50 basis points in the first four months of this year, although rates in late April were 30 to 35 basis points higher than they were 12 months prior. Mortgage rates are expected to trend marginally lower throughout 2008, but will be within 25-50 basis points of their current levels.

For 2009, posted mortgage rates will begin to drift up slightly as the year progresses. 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.

CMHC Surrey housing market & Surrey mortgage rate forecast

Unfortunately, CMHC doesn't report directly on Surrey's housing or mortgage outlook, so we've listed the Vancouver and Victoria information below:

Census Metropolitan Area		Total Housing Starts	MLS sales	MLS average price	Mortgage rates (1 year)	Mortgage rates (5 year)
Vancouver	2007	20,736	38,978	$570,795	7.35%	7.54%
	2008 (F)	18,500	36,000	$615,000	6.95%	7.01%
	2009 (F)	18,000	35,000	$645,000	6.83%	6.97%
Victoria	2007	2,579	8,403	$466,974	7.35%	7.54%
	2008 (F)	2,275	7,700	$487,000	6.95%	7.01%
	2009 (F)	1,845	7,300	$498,000	6.83%	6.97%