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Is it the Right Time to Buy or Sell a Home?

Over the past couple of months there has been a lot of speculation about the Real Estate market in the Halton/GTA region, all leading the question - is it the right time to list and buy a home?

The answer is YES!

June and July have seen an active real estate market. Many homes that are $1 Million and under are seeing multiple offers and are selling over asking.  The pandemic has not stopped the market activity, so if you are thinking about buying or selling, this is the time to do it.

Here are a few tips to help you navigate:

Low-interest rates

In March, The Bank of Canada dropped the key lending rates three times, and the mortgage rates have remained low, allowing Buyers to leverage their purchasing power. Low-interest rates are certainly making the market more accessible for Buyers and favorable for Sellers. With variable rates as low as 2% for a 5-year mortgage (subject to change), there is no better time to lock-in. 

Importance of Pre-Approvals

Before you start your search, it is advisable to get a mortgage pre-approval. At Gail Sylvester Mortgages, we will review your options and ensure you have the best rate and budget to meet your needs.  With multiple offer situations happening frequently, having a pre-approval gives you the confidence you need to beat out your competition.

Thinking about Refinancing?

Along with buying and selling, refinancing is a great way to use your home equity to help with costs. If you have equity in your home, refinancing to a favorable rate and assessing your capital could be the solution that works best for your current financial situation.  It is always a great idea to review your finances quarterly to see if there is a better way to get your money working for you.  If you need help reviewing your current options, our door is always open. 

Are you thinking about making a change?  Gail Sylvester Mortgages is here to help you feel confident about your financial decisions.  Check our Facebook page for updates on upcoming webinars on a variety of topics here.  Missed one?  No problem - catch up on past episodes on my YouTube channel.  At Gail Sylvester Mortgages, we are passionate about mortgages and about helping our clients achieve their financial goals.  We are more than just mortgages, and we are always here to help.