At least as far as rates are concerned. The spring thaw has begun!
This week has seen a flurry of activity from various lenders, primarily in the mid to long term rates 5, 7 & 10 years.
Checking the rate board today shows *ALL* short term rates below 4%
Last week, the 10 year was down a full percentage point to 5.25%.
These are historic times. If you can, take advantage of the low rates. Buy into a real estate investment that will now easily return a better ROI than the rate at which you are borrowing funds. There’s several out there, not the least of which is Keith’s condo-hotel project in St. Sauveur.
I think the Bank of Canada’s chairman is finally getting his wish, even before they announce their policy on buying up long term bonds. I think hinting at doing this at the last session was enough for the markets to react.
I think the spring market is going to be as busy as the record breaking spring market in 2007. Are you ready?
Have a great week everyone!
—
Warmest regards
John R. Walsh, B.Eng
Mortgage Agent with Mortgage Alliance
Licence Number: M08000603
Founder of O.R.E.I.O.
613-237-7044 x148
888-474-0137 (toll free fax)
jwalsh@mortgagealliance.com
jr2walsh@gmail.com
http://ForAllYourMortgageNeeds.com |
The Evans Real Estate Group Blog 