Super Brokers News
A recent report from the Auditor General is making mortgage news, as the Municipal Property Assessment Corporation says that it will be working to improve its processes for reviewing home sales when their prices vary from their initial assessments.
The Bank of Canada has announced that it won’t raise its key interest rate in light of weakening economic conditions – a step that should keep Canadian mortgage rates low, and create low costs for borrowers looking to buy a home.
Fewer people may be looking to take advantage of low Canadian mortgage rates to move into new homes in the near future, as the latest data from Statistics Canada showed a significant drop in the value of building permits during the month of October.
While low Canadian interest rates have been helpful for those looking to buy a home, the Globe and Mail reports that they are also making it difficult for those getting ready to retire.
selecting a fixed-rate five year mortgage term over a variable rate mortgage could grant Canadian mortgagors the best mortgage rates over the next five years