Real estate rates continue to stagnate. At the start of this summer, it is time to take stock of the mortgage rates currently charged by the banks.
Only four mortgage rates are moving
All durations combined, only four interest rates show changes, all are declining.
Indeed, we have identified that:
3 minimum rates (the best rate offered to borrowers) decrease by 2 or 5 cents. These are the 7, 10 and 25-year credit rates;
the average property rate over 30 years decreases by 5 cents.
It is now possible to borrow at loan rates between 0.96% and 1.40% over 15 years; 1.12% and 1.65% over 20 years; 1.35% and 1.85% over 25 years. To find out all the borrowing rates, consult our barometer of real estate rates.
As for several months, the banks display scales that remain stable and remain at very low levels which benefit the borrowers. Proof of this is for a 20-year loan of $ 200,000 at a property rate of 1.12% (excluding insurance), the cost of credit will only be $ 23,328.
Low-interest rates to compensate for the decline in borrowers in the real estate market?
” Due to the persistent delay in production, the banks are continuing to open their criteria,” explains the Director of communications and studies at Bank. Moreover, a national brand now offers credits that cover 100% of the financing of the acquisition (only the costs related to the purchase are in personal contribution ). “
In addition, the effects of the announced end of the Best credit provider must now be highlighted. What about what will become of these niches of borrowers that this brand is used to supporting (110% financing, cash repurchases, long-term loans, credits for rental investment without obligation of domiciliation of income, etc.)
As for several months, the banks display scales that remain stable and remain at very low levels which benefit the borrowers. Proof of this is for a 20-year loan of $ 30,000 at a property rate of 1.12% (excluding insurance), the cost of credit will only be $ 34,456.00
Take advantage of our expertise at the best rate, it’s easy and free from 0.66 % * over 15 years