Mcity condos . Forecasts for the real estate market and lending rates have been released. Interest rates on home loans in Canada have set a series of record lows this year.Please Visit: Mcity condos to Get Your VVIP Registration Today!
The central bank brushed the benchmark interest rate at a record low of 0.25% in March and maintained it until the end of the year, and the central bank has repeatedly stated that this ultra-low interest rate will last until 2023. Major financial institutions have robbed customers, creating a five-year low of floating interest rates below 1%.
Subsequently, some financial institutions once again proposed the era when the 10-year fixed interest rate was lower than 2%.
James Laird, founder of Ratehub, a Canadian mortgage information website, has made several predictions:
With the spread of the COVID-19 vaccine nationwide, it will take a long time for the economy to fully recover, Laird said.
As a result, Larid believes that banks will “patiently” wait for the opportunity to raise interest rates before the COVID-19 epidemic ends and the economy returns to normal. As a result, the best lending rates for floating rate mortgages and HELOC will remain unchanged.
Independent houses will show no sign of slowing in 2020, and this momentum is expected to continue into the new year, with the strongest growth in the suburbs of major urban centers.
