Mortgage and Real Estate still good!

This areticle is a good read: *****************************************************

The latest rate setting by the Bank of Canada, once again, maintained the benchmark at 1%. It has been there for two years, the longest run ever without a change. Still, Governor Mark Carney continued to express the Bank’s desire to move rates up as soon as possible. That position seemed to take another hit when the Chairman of the U.S. Federal Reserve indicated The Fed was prepared to hold its borrowing rate at 0.75% to 2015 if necessary.

Now a new report from Moody’s Analytics is bolstering Carney’s cause. It says Canada could move on rates well before the end of next year. The sister company to global ratings agency points to Canada’s GDP growth being broadly in line with projections; the fact that Canadians appear to be reducing their debt levels; and the housing and building markets appear to be cooling. All of these contribute to an environment that would allow for a gradual increase in rates, that wouldn’t shock the economy.

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Though this information might be a bit weary take heart. The economy becomes bad or good for many reasons and these reasons have to happen more frequent then normal. Right now the real estate market is a safe bet and there is some ups and downs but overall it is positive.

With low rates still being offered buying and selling is still good. My firm is offering a great 5 year fixed for a low 2.75% if you are looking to buy and sell through one of my approved realtor partners.

And if you are looking to refinance or an option for your renewal we offer great mortgage options from 1 year to 5 years and a great 5 year fixed mortgage rate for a low 2.85%.

Check us out at www.networthmortgage.com or call me at 416-431-6662.

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