Date Posted: July 25, 2020
The housing market in Ottawa is now stronger year-over-year than in 2019, as we enter the latest phase of reopening during Covid-19. As we move into the summer months a handful of lenders are offering historically low interest rates at Mortgage Brokers Ottawa.
There has been a settling in the number of active home listing in the previous week. There were just under 1800 homes for sale in Ottawa of which 417 were condominium listings: an unusually high number of units for this time of year. Of the 1800 homes for sale there were 624 sold properties.
The fixed interest rate market continues to be at all-time lows, 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.
Contact your Mortgage Broker today for trusted advice