With our partners to the south flirting with the idea of raising the fed funds rate, we will be sure to see that reflected in a Bank of Canada rate hike ourselves. Reuters and Bloomberg are both anticipating a fed funds increase within the first two quarters of 2017, and the Fed anticipated in December three rate hikes within 2017. Canada’s fiscal agent won’t be far behind with its own monetary policy, and this means many things for the mortgage community. The most important fact to potential homebuyers is that NOW is the time to take advantage of historically low rates.
Toronto Mortgage Rates offers competitive rates with plenty of fixed term options available. Whereas refinancing is always available with decreasing rates, it does not work the other way around! So if you’re a prospective buyer, contact us right away for a rate that may not be available later in 2017.
Mix the continually-skyrocketing value of real estate within southern Ontario with the potential rate increase, and there simply is not a better time to contact Toronto Mortgage Rates. Don’t get priced out of the market, contact us for a quote today.