The interest rates are low and Ottawa is a great place to live. For all you first time buyers and all second and third time buyers as well, start the buying process by getting prequalified for the amount of mortgage you can afford. Then ask your bank or mortgage broker to provide you with a letter locking in that rate for you for the next 90 days while you house hunt with me. This letter provides peace of mind that the rate of the mortgage will not rise if you purchase during the 90 days. If the rates rise you are not affected and if they fall you will get the lower rate. It is a win, win situation!