Interest Rates update
Just helped a client buy their 1st house & was so happy for them that the interest rates are so low. 3.7% for a 5 year fixed & 2.2% on a variable through a mortgage broker. I come from paying 19% in the early 80's so these rates look like a gift to me. Know housing prices have shot up dramatically in the last 30 years but the mortgage payment with the low rates really have not increased that much on the same house. One has offset the other. So in my opinion still a great time to buy.