It’s hard to believe summer is over. Noise in the mortgage market has seemed to quiet down a bit as all the new changes have been implemented and the housing market has become slightly more restrained.
Canada Mortgage and Housing Corporation (CMHC) has just recently announced that they expect continued modest growth in real estate prices up to a more normal 2.5% growth rate in 2013. Real estate listings across the country have increased over the last few weeks which has created a more “normal” real estate market.
Now what does this mean to you? I believe if you are thinking of either purchasing your first home or moving up to your second home now could easily be the best time.
More listings and less buyers translates into better negotiating opportunities and more selection especially in the entry level market.
Prices are still expected to increase as per CMHC report
Interest rates are still historically low especially the 5 and 10 year terms
Changes in the mortgage rules can affect how much you can afford to purchase and or refinance. Let me show you exactly how much you can afford and lay out all the options that are still available to you. Don’t hesitate and get a jump on the fall market today. Call or email me today.
Frank Silva,
Mortgage Agent, LIC# M11002153
Phone: 647-291-6518
Toll Free: 1-877-366-3487
E-mail: frank.silva@sympatico.ca
Web: www.mortgagealliance.com