UDI/Vancity Housing Affordability Index: Statistics show homes getting even further out of reach for most

Despite the lowest interest rates in memory, Vancouver houses continue to become less and less affordable, the UDI/Vancity Housing Affordability Index shows. That’s because prices just keep going up. The average best five-year mortgage rate from the eight big banks averaged just 3.06 per cent for the fourth quarter of 2015, down from 3.15 per cent the previous quarter. TD Bank notably dropped its best five-year rate to just 2.94 per cent.

from http://www.vancouversun.com/business/affordability/udi/vancity+housing+affordability+index/11713933/story.html