Prospective homebuyers took advantage of historically low mortgage rates through the summer months, fuelling a rebound in housing activity in BC across Canada.

The BC Real Estate Associations (BCREA) expects a low interest rate environment to persist through 2009 and into 2010.

Mortgage rates are forecast to fluctuate within a narrow range near current levels for the remainder of the year, before rising modestly through 2010 as the economy improves.