A slight downturn in mortgage rates shouldn91裸聊视频檛 send prospective buyers into a tailspin, according to a Lower Mainland Royal LePage advisor.

At least two of the country91裸聊视频檚 main banks, the Royal Bank of Canada and the Bank of Montreal, lowered their five-year fixed mortgage rates this week.

Adil Dinani said the fixed rate depends on bond yields, and 91裸聊视频渨hen the bond yield goes down, rates go down.91裸聊视频�

The Bank of Montreal dropped its rate by 0.15, down to 3.74 per cent.

91裸聊视频淚t91裸聊视频檚 so marginal that it doesn91裸聊视频檛 really have a material impact on how much money they91裸聊视频檙e going to lend or how many people buy homes,91裸聊视频� said Dinani.

But it does is a 91裸聊视频減sychological effect,91裸聊视频� he said, as some homeowners look to swap from variable rates to fixed ones.

The reason behind the potential swaps is that variable rates are affected by the Bank of Canada prime rate, which has gone up 1.25 per cent in the past year and a half.

Fixed rates are unaffected by that and are instead tied to the bond market.

In general, Dinani said, the lowered fixed rates is another sign of a market cooldown after a hot decade in real estate.

91裸聊视频淭he market needs some good news, particularly in Vancouver,91裸聊视频� he said. 91裸聊视频淲e91裸聊视频檝e had tremendous run-ups in our market since 2009 that a cooling period now is very welcome.91裸聊视频�