On Wednesday May 30, 2018, the Bank of the Canada again maintained their overnight rate which means no change to your interest rate. Let’s not forget that interest rates are still low and this is a great time to take advantage.
As the spring market has been in full swing right now, here are a few things that might’ve been on your mind lately. News & media. There has been A LOT of buzz in the past few weeks about the housing market taking a major plummet. One of the key factors I have been discussing is how 2017 was an exceptional year. Meaning, these numbers were so far off trend they are skewing results and thereby allowing the media to develop a news frenzy on how the housing market is plummeting...
Remember if you compare this year so far with any other year we are pretty on trend for standard growth and days on market. Keep this in mind when you make any real estate decisions this year.
Renewals: After all the regulation changes at the end of 2017, nobody was really sure of what the effect would be on upcoming renewals. After monitoring the trends this spring, it has become apparent that lenders are taking advantage of your qualifying position and are sometimes using this to their advantage. Moral of the story is I am still here to work with to find the best options, whether that is staying with your current lender or moving. What is essential to this strategy is having a plan! If you have a mortgage renewal coming up this year, reach out to me now and let’s start exploring what your options are and how we can get you closer to your goals! I have some really amazing options from lenders that can making switching an option for you! It’s time to chat about your options! It is never too late, or early, to start planning. Chat to me about your options, I'd be happy to make your plans become a reality. You can reach me at 647-893-2535 or [email protected] Sign Up Here for Monthly Mortgage Updates
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