Interested in learning more about property mortgages in Canada? Look no further!
Canada's biggest bank has cut its five-year fixed-term mortgage rate, a move other banks are likely to try to match in short order..... More »
Though the real estate market is nowhere as hot as it was, let’s say, two years ago, the fact of the matter is that home prices are going down, and some people are still looking to buy. Rising interest rates and a stricter mortgage stress test may have led to a decline in affordability, but if you’re still hoping to move in 2019, this may be your time to buy before another interest rate hike – and according to our experts, we may see two to three more this year.
Fall and winter are often considered less desirable times of the year to search for that perfect home. Many home buyers prefer the hustle and bustle of the spring market, plus moving during the summer months means fewer interruptions to school and work schedules. But there are advantages to waiting until the quieter months of fall and winter that may make you change your mind. Here are some of the benefits of buying a home during the off-season:
This is easily the best part about shopping during the off-season…
In its first announcement of the year, the Bank of Canada decided to hold its overnight rate at 1.75 per cent. It’s also lowering its growth forecast this year for Canada and around the world.
The Bank gave several reasons for its decision to keep rates steady – most notably drawing attention to low oil prices and the continuing international trade conflicts, and showing that not much has changed globally since the last announcement. However, this language used in this announcement is quite dovish compared to what we were hearing earlier in 2018. Forecasters are now predicting only two rates hikes this year, even though they previously predicted we would see as many as three rates hikes in 2019.
Rising interest rates and a stricter mortgage stress test may have led to a decline in affordability, but if you’re still hoping to move in 2019, this may be your time to buy before another interest rate hike. Find the best rates from Canadian lenders and mortgage brokers at RateSupermarket…