What's Happening with Mortgage Rates in Canada?

.embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; height: auto; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; } Buying a home? Click here to search all homes on the MLS Selling a home?  Click here for a free home value estimate.  Call us at (416) 438-2536 for a FREE home buying or selling consultation Today I'll be speaking about what has been happening with the Canadian Mortgage Housing Corporation (CMHC), and what will be happening with our mortgage rates.  I can remember in 1989 when interest rates were somewhere around 12-13%, and now in 2015 they're sitting at 2.75% for 5-year mortgages.  This means that you have the opportunity to save $300-$500 a month, and thousands of dollars every year. These savings are phenomenal, and it's part of what has been driving the market.  If you're selling your home and moving into another, you have the opportunity for a very financially successful transaction. The money you make selling your current home can be put towards your next one, lessening the financial blow of moving up into a bigger property.  If you're looking to purchase a home, I recommend that you go out and get Pre-approved for a mortgage loan. This will narrow down your home search and allow you to find a good home quickly. Now is a very good time to buy, and you can lock yourself into a very low interest rate.  If you need any assistance buying, selling, or investing in Toronto real estate, please don't hesitate to contact me. Please consider me your #1 resource for real estate in Toronto!