Right now might be the perfect time to buy!
With interest rates at a historically low number, perhaps you should be starting to think, or even look, for housing deals. You never know when you could stumble across an enticing house for sale, especially in the winter, when the real estate market is traditionally slower.
The central bank of Canada has vowed to keep rates locked near zero until mid-2010, although some believe it could move sooner if inflation begins to appear. In any case, experts believe rates will be steady for the next 6-9 months, with marginal increases to follow. This is good news for people looking for variable rates, as there is little chance they will be overwhelmed by a sudden increase in rates.
It is a good idea to be a little conservative in terms of borrowing. It’s safe to say that interest rates tend to move higher faster than they move lower. Considering this however, the smart shopper takes all things into consideration and takes advantages of opportunities when they present themselves.
This is definitely an opportunity for buyers.
The bottom line on fixed and variable rates is that they are extremely low based on historical numbers. Times have never been better to buy or refinance in terms of interest rates.
Call me today to find out how I can help you find the perfect home, for the best price.
Jamie Vieira, Sales Representative
Century 21 Miller, Brokerage
PH: 905-845-9180 FAX 905-845-7674
"The Service You Deserve!"
2009 & 2008 Masters Diamond award of Excellence