A short and concise informative report on the last week.
Canada Wide Rate Offer Average:
5 Year Fixed: 2.04%
Employment growth from March is strong, unemployment rate down to 7.5% (:west since beginning of pandemic) currently, Employment up 0.9% from previous month. Working from home decreased by 200,000 people in March, expected to rise with stay at home order at the beginning of April.
Bank of Canada Announcements:
New qualifying rate projected for uninsured mortgages as of June 1st 2021.
Current Rate: 4.79%
Projected Rate: 5.25% or Your Rate + 2%, whichever is higher.
GTA – London housing market still red hot moving into buying season. New housing poll shows 39% of Ontario residents under 40 have given up on homeownership as an option, but don’t give up! There’s always hope, and where there’s a will, there’s a way! Connect with me to figure out how it’s possible!