Maria Mak - Burnaby Realtor/Real Estate Agent - How long will the low mortgage rates last?

            

 

Contact Maria Mak and her elite team @ Sutton Centre Realty @ 604-839-6368 for all your premium professional real estate services or visit her website www.mariamak.com

Maria has been serving her clients in Metro Vancouver for over 25 years with a big heart and with a big smile .THANK YOU .

With the Bank of Canada lowering rates by a full half point earlier this week, is this a good time to choose a variable rate mortgage?

Absolutely, even if you have to pay Prime plus .80 today, you're still below 3.5 %. Clearly these historic lows put us in uncharted territory. Another very valid question is; how long can we expect these low rates to last?

BOC boss Mark Carney, has adjusted his forecast for market recovery and is now saying 12-18 months, so we can expect these rates to stay low as long as the central bank is not concerned about inflation. In the meantime, be aware rates will eventually go up at one point over the next year or so and we could see an historic low on the long term rates as well, and when that happens it may be a good time to lock in.

For all your creative financing, please contact Maria Mak at Sutton Centre Realty at 604-839-6368 or visit my website at http://www.mariamak.com/, you will be smiling too!