There have been some updates to interest rate forecasts since our last review of rates in December. The overall trend is upward but there are differing opinions on how high rates will rise.
All in Forecast
This simple condo buying strategy will save you $100,000
This simple condo buying strategy will save you $100,000
Until May, home buyers with a 2017 pre-approval will have an unfair advantage. Don’t make an offer on a home until May 1st.
A fork in the Road – Metro Toronto 2018 Home Price Forecasts
The consensus seems to be that 2018 will experience a drop in detached home prices while condo prices rise.
Mortgage Interest Rate Forecast – How much will mortgage rates rise?
You will need to qualify for a 6.25% 5-year fixed mortgage by the end of 2019. The actual rate is forecast to be 4.25% but federal rules require lender apply a 2% stress test.
Full Steam Ahead! – Metro Vancouver 2018 Home Price Forecasts
The consensus seems to be that 2018 will see more price gains than 2017, and that detached house prices will stay relatively flat while condo prices rise continue to climb.