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Get out there and buy a house! NOW is a great time…

One of our trusted mortgage brokers, Peter Majthenyi of Mortgage Architects, sent us a little update on his views on interest rate trends and the outlook for next year. It’s a great current reminder for those who are still sitting on the fence waiting for a real estate market correction….stop! And get out there and buy something.

Peter says: By now you may have heard the two big December announcements. The Bank of Canada has down-graded our 2012 economic growth & the Central Banks have agreed to reduce the cost of lending each other money; so what does that mean for us homeowners (and future buyers)? Low mortgage rates well into 2013 … that’s what I’m talking about! Now I feel we would be best served by taking a “convertible” mortgage like a 1 year (2.86%)or 5 year variable (2.80%) because bigger mortgage rate discounts may be on the horizion and we do not want to get stuck with a mortgage we do not want if rates drop? We’ll teach you more when you have the time to connect with us … Anytime, Peter & Team.

You can visit Peter’s site for current rates and contact info at http://www.mymortgageplanner.ca/ and although the month of December is generally light on inventory of available properties, it’s a good time to start doing your homework and get yourself set for an active search in the New Year.

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Irene Kaushansky, B.Sc., A.S.A., Sales Representative
Philip Brown, Broker

Keller Williams Neighbourhood Realty, Brokerage
Independently owned and operated
2968 Dundas St. W., Suite 303, Toronto, ON M6P 1Y8
Office number 416 236 1392