17 Mar Strategy in Times of Economic Challenge
Current Economy & Strategizing to Get the Best from the Housing Market
We are currently in a time of economic uncertainty due to several international events. The economy has been affected and our government is taking steps to help support the population and business.
For Home Buyers, the lower interest rate makes this a good time to buy as we’ve noted in a few of our prior posts. It’s certainly a good time to get pre-approved for a mortgage and assure yourself of a good mortgage rate. Be sure to shop around and don’t be afraid to ask for a better rate using the weight of your other financial business. If housing prices do fall, you will be in an even better position to buy. Long term projections look positive for GTA real estate.
For Homeowners, falling interest rates offer you a chance to restructure your mortgage. You can ask for a lower rate, refinance to do a renovation or buy an investment property. With the current high housing prices (especially in the GTA), it’s also a good time to consider selling if you are looking at a move or to downsize. More buyers are on the hunt as the interest rates fall.
We would love to connect with you and help you strategize in the current real estate market. We’ll help you get a plan in place and can connect you with mortgage specialists as well.
Give us a call or send us an email any time, we’re always here to talk.
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