Date Posted: May 9, 2020
Realtors and Mortgage Brokers have been adjusting their practices to meet the needs of clients during Covid-19 and it is still business as usual. With the soft opening of businesses that is happening in Ottawa, and across Canada, we are seeing an uptick in the number of home listings. Canadians are feeling more optimistic about the housing market and our future in general.
There were some good numbers that came out in the month of April with respect to home sales. The average home sales price is up 15% year-to-date with the month of April seeing an increase of 5.9% increase over last month. Though the number of home sales is down the houses on the market are garnering an increase price.
The fixed interest rate market continues to be attractive, as well as variable interest rates. Variable interest rates are low and likely to remain low for quite some time. As such, it is a great time to reach out to your Mortgage Broker and secure a mortgage Pre-Approval. By locking in an interest rate for 120 days you are securing a rate in this low rate environment.
Having a trusted Realtor and Mortgage Broker during these fast-changing times is essential in making informed decisions.