Spring usually witnesses an upsurge in residential real estate activity and this year is no exception. With Toronto mortgage rates so low, it’s no surprise to learn home prices in most Canadian cities rose during the month of May over the previous monthdespite a slow winter demand which may be attributed to stricter mortgage lending rules introduced by the government in mid-2012.
According to results from the recent Teranet-National Bank Composite House Price Index, repeat prices for single-family home sales increased 1.1 percent for the month of May over April, confirming an upward trend that has been repeated nine times in the past fifteen years.
Calgary and Edmonton led the metropolitan markets surveyed with gains in May of 2.3% and 1.9% respectively over the previous month, followed by Hamilton (1.4%), Montreal and Winnipeg (each at 1.2%) and Ottawa (1.1%). Toronto prices rose 1.0% last month, ahead of Quebec City (0.8%) and Vancouver (0.7%). So whether you’re looking for a resale home out west or one right here in Toronto, using the services of experienced Mortgage brokers toronto can help you find the best financing to make that home purchase affordable.
Comparing the best rates and terms among different financial institutions and presenting the various options to you is what these mortgage professionals are all about. Since mortgage brokers aren’t associated with any one lending company, there’s no need to promote one product over another. Remember, you pay nothing for our service and we only get paid by the lending provider of your choosing when everything is complete.
It’s working with the same reputable lenders time and time again that allows us to provide you with all the information you need to make an informed decision about the best Toronto mortgage rates and terms available. We can even help simplify the application process.
