Just this week many news outlets across Canada have been reporting record low mortgage interest rates. Both BMO and TD banks have an advertised 5 years fixed rate of 2.79%, Scotia is not far off at 2.99% (and may yet end up matching). With spring time being the busiest time of year for the residential market it may be a very busy year.
What does this mean to you?
If you are considering a move to a new home the opportunity for a solid 5 year budget has never been better. While the lower fixed rate doesn't equate to winning the lottery it does offer a solid foundation to re-evaluate what you can afford and the confidence that rates have never been lower. So, if you have been waiting for the mortgage market to make its best offer, it's a fairly safe bet it won't get much better than this.
If you have been considering selling your home, there are bound to be more buyers available with the attractive interest rates. Century 21 can help you to market your home and find the right buyer.
As always all of us at Century 21 Tisdale Agencies are ready to provide professional advice and service to you on any real estate transaction.