Great news for Buyers. Read the excerpt below for info.
Interest rates: the silver lining for Ontario homebuyers in 2013
While the top five banks hover around a posted 5% fixed rate on mortgages, a little higher than the Bank of Canada rate, many Canadians will continue to be successful in knocking those rates down. Homebuyers with above average credit rating and a superior payback record can easily expect to negotiate well below 5%--even as low as 3%. Interest rates have remained extremely low since the recession back in 2008 and show no sign of significant hike through the end of 2013. Explore your mortgage options at the Financial Consumer Agency of Canada