On Tuesday July 20th the Bank of Canada reluctantly increased their interest rate by .25%, while fixed mortgage rates actually dropped! The “Global Economy” is very fragile so do not expect any further rate increases anytime soon, it will likely take until at least 2012 to see any significant international recovery or increased inflation. You can learn more at BNN.ca and search “Majthenyi” to watch my most recent interviews.
All mortgage rates are great currently, but all 52 lenders are NOT alike – be aware of what’s in your mortgage contract! Conclusion; now is a great opportunity to buy real estate and we can help! Let’s connect when more clarity is needed – Cheers, Peter & Team
Click here to see current mortgage rates.