If you need assistance, please call 416-884-1359

WHAT WAS YOUR INTEREST RATE WHEN YOU BOUGHT YOUR FIRST HOUSE?

Friday, June 3, 2022   /   by Ameil Gill

WHAT WAS YOUR INTEREST RATE WHEN YOU BOUGHT YOUR FIRST HOUSE?

Yes — it’s 2022, not 1982 ... interest rates have certainly changed, along with many other aspects of the industry (construction standards, mortgage underwriting, home values, marketing, etc).
Just curious, what was the interest rate for your first home?
There has been a lot of discussion around interest rates — we’re seeing scenarios where the typical fixed-rate mortgage might not be the best product for you. For a 30-year fixed-rate mortgage just in the past 5-6 years, we have seen interest rates adjust from 4% down to 2.5% and back up to 5.5% — a lot can change in one year and it’s important for us to remember the cyclic nature and flow of the housing market. Real Estate continues to be one of the greatest (often the most profitable) investments you can make. Have questions about the rising rates or our current market? Send me a message!
#realestate #realtor #realestateagent #home #interestrates
REMAX Realty One Inc. - The Gill Team
Ameil Gill
50 Burnhamthorpe Road West Sussex Centre Ste #102
Mississauga, ON L5B 3C2
416-884-1359

Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®.
Information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®. Copyright 2022 Last Updated June 29, 2022
This site powered by CINC: www.cincpro.com