5 Year Fixed 1.99%

5 Year Variable 1.85%

Open House - The Real Estate & Mortgage Show: August 29th, 2020

Open House - The Real Estate & Mortgage Show: August 29th, 2020

Date Posted: August 29, 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 start to move into the fall many lenders are still offering historically low interest rates at Mortgage Brokers Ottawa.

The tight housing supply and historically low interest rates continue to drive bidding wars for properties in Ottawa.  For the first time in many months there are more listings than sales.  Last week there were 668 new listings in Ottawa and 620 home sales so it appears the trend is starting to shift and that may reduce the number of bidding wars that have occurred over the past few months.

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.

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