Mortgage rates have dropped by 10 basis points, making it a great time for Calgary buyers to enter the market. This decrease is a result of a shrinking inflation premium, which has led to lower bond yields and fixed-mortgage funding costs. As a result, leading big bank rates have decreased, with uninsured offers available for 10 to 20 basis points more from certain providers.
The lowest advertised variable rates remain around prime minus 1.0 to 1.1 per cent, with uninsured variables costing at least 20 to 40 basis points more. This change in mortgage rates is a significant development for the real estate market, and Calgary buyers should take note.
For Calgary buyers, sellers, and investors, this decrease in mortgage rates means that it's a great time to buy or refinance a property. With lower rates, buyers can save on their monthly mortgage payments, and sellers can take advantage of the increased demand for homes. Investors can also benefit from the lower rates, as they can refinance their properties and increase their cash flow.
Sources: Financial Post