A little known fact, mortgage rates fluctuate on a daily basis. Daily mortgage rates are reliant on the prime interest rate, that is the rate at which the government sets for bank to bank loans. At the end of each day a bank must have a certain amount of money in reserve and if they cannot meet that reserve than they go to other banks to borrow the money.
There are several factors that are considered when it comes to the daily rates: Continue reading ‘How Are the Daily Mortgage Rates Calculated?’ »
Posted by Alex Bhaswara on November 12, 2011 at 3:45 am under Mortgage-Refinance.
Tags: Mortgage, mortgage rates, Mortgage Rates Calculated
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Since the economic meltdown in 2008, home prices have fallen to new lows across the globe. In Canada, however, a number of localities (including the Ottawa real estate market) were not as affected by this global disaster and are now showing signs of stability. With higher than expected prices at the beginning of the year, potential home buyers and investors were hesitant to buy property in the city mostly due to the expectation of a housing bubble waiting to burst. Experts have had a number of mixed reviews about the Ottawa real estate market since the start of 2010. Some say we are due for a major price drop in home prices across the city while others predict a slower growth in home prices in the coming years. It all depends on who you speak with. Most say Ottawa is a one of the few cities seemingly “recession-resistant”.
This could be likely due to our large government worker base. A number of professionals in the city, including other Realtors and mortgage brokers, share this opinion. Another reason for the steady Ottawa real estate market can be attributed to the strong Canadian banking system. Canada’s top banks have so far been committed to maintaining a low interest rate on mortgage loans. Again, we must not forget that the real estate market in Ottawa is quite different than the US market. Real estate professionals are constantly assuring their clients that when it comes to Ottawa homes for sale, prices are bound to remain on a steady rise over the long term. So with low mortgage rates and home values continually appreciating, now is as good as any other time to buy.
Continue reading ‘Ottawa Real Estate Market Update’ »
Posted by Alex Bhaswara on December 23, 2010 at 12:32 am under Real Estate.
Tags: Banking System, Current Market, Economic Meltdown, Estate, Expectation, Global Disaster, Government Worker, Home Buyers, Home Values, Housing Bubble, Localities, Low Mortgage, Lows, Market, Mortgage Brokers, Mortgage Loans, mortgage rates, Ottawa, Ottawa Homes, Ottawa Real Estate, Real, Real Estate Professionals, realtors, Recession, Update
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