Open House - The Real Estate & Mortgage Show: June 13th, 2020
Open House - The Real Estate & Mortgage Show: June 13th, 2020
Date Posted: June 13, 2020
Realtors and Mortgage Brokers are continuing to adjust their practices to meet the needs of clients during Covid-19, but it is now business as usual. With the soft opening of businesses that is happening in Ottawa, and across Canada, we are seeing a continued uptick in the number of home listings.
There has been an increase in active home listing in the past week. There are currently 1847 homes for sale in Ottawa. In the past week there were 536 new listings. From that number there were 209 homes listed for sale in the last 24hours. And in the past 48 hours there were 323 homes listed for sale. This influx of new property listings is driving more multiple offers, as demand currently outstrips supply.
The fixed interest rate market continues to be very 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.