On the real estate and mortgage front, we're anticipating a quarter percent rate cut on June 5th. This expected change should help lower rates gradually, stabilize the market, and boost buyer confidence. It’s unlikely that mortgage rates will drop sharply, but this adjustment will provide some relief. Currently, there's a noticeable difference between fixed and variable rates. If you're considering renewing your mortgage, I think a 3-year fixed rate might be the best choice, as it could take some time for variable rates to catch up.
Feel free to contact me if you have any questions or if you're interested in a free home evaluation, with no obligations.
Warm regards,
Elena
