Mortgage rates have not made recent headline news but they have been creeping downwards unnoticed. The five year fixed rate can now be offered as low as 2.30% and variable rates are even lower. Most nations in the world are concerned about sustaining economic growth and as countries introduce new stimulus policies to help grow their economy, rates should continue to edge lower. The US could be the exception, but many economists don’t anticipate any major changes there either.
Real Estate especially here in Vancouver and Toronto has made plenty of headline news. Many of us are now aware that BC has introduced two new taxes to help with what they considered a Housing crisis.On top of this mortgage lending practices are being further scrutinized which will likely result in tougher lending qualifications. It’s anyone’s guess of what the long term effect will be on real estate prices but what I do know is that we can help make your real estate transaction easier and cheaper.
The high real estate values and low rates have made it much easier for clients to reduce their borrowing costs. Saving money can be as easy as getting a second opinion on your mortgage renewal.
Click here to check out our new listing - 303 1230 HAMILTON STREET
