MESSAGE FROM ELENA

In the realm of real estate and mortgages, there’s some noteworthy movement. We're observing a decline in fixed mortgage rates in Canada, correlating with reduced government bond costs. Influences from the U.S. economic trends suggest possible rate reductions ahead, which might lead to more affordable loans here in Canada soon. This could bring some financial relief for borrowers. Currently, the most popular mortgage product is the fixed rate, now ranging between 4.99% to 5.2%, with a preferred term of three years. If you're considering renewing your mortgage, it’s crucial to review the penalty options—typically, it’s either three months of interest or an Interest Rate Differential, which can be quite significant. We've seen penalties exceeding $20,000, which is substantial.

On the housing front, the market inventory hasn’t shown many exciting listings in the past couple weeks, a typical slowdown for August.

Feel free to reach out if you have any questions or need further information.

Best regards,

Elena

ARTICLE NEWS AND PUBLICATIONS

Canadian lenders are cutting fixed mortgage rates following a drop in bond yields. But what’s behind these latest moves?

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While darts will always be a classic, there are a number of other lawn games you can DIY with a little elbow grease and imagination. Here are some ideas ranging in degree of skill level from one (easiest) to five (hardest). You won’t want to leave your yard all summer!

ELENA GORDON

Broker of Record

RE/MAX Gordon Group Realty

647-400-9603