There were more warnings this week from the BoC and the Finance Minister about the level of Canadian debt and the impending interest rate hikes that are still looming on the horizon. That said, there are still ample indications that the real estate market in Toronto is red hot and will take some time to cool down.
For example, with toronto mortgage rates at such low levels, consumers are competing to get a piece of the market in Canada’s biggest city. Recently a Bloor West home got $133,000 over the asking price and a Beaches semi drew three offers in 24 hours.
Here’s some more statistical news from the GTA Realtors who reported 2,857 transactions through the first two weeks of August. Although these numbers represent a dip of 7.6 per cent from the same time last year, things are moving ahead in the Toronto Real Estate scene and this is the right time to get in touch with a toronto mortgage broker.
The markets are still hot but there are predictions they will be cooling and the BoC has been telling us that interest rates will start inching up, the question not being ‘if’ but ‘when’. That means you need professional help when you’re looking to get involved with a mortgage and the unbiased kind of advice you get from experts that will get you the rates and terms that suit your circumstances specifically. Remember, we don’t work for the banks or other big financial institutions. Our interests are in customer satisfaction, not towing the line with the bigger lending houses.
Get the largest variety of rates and features with our services. As your toronto mortgage broker, we’ve got access to all the credible lending institutions and attractive rates and features that are just right for you.
