August 24, 2007
Posted August 30, 2007 12:00 pm.
This article is more than 5 years old.
The weather’s looking good and so are condo sales, according to Dan Ellenberg from sellwithdan.com. “We’re getting close to the 50 per cent mark in terms of the total condo sales from MLS in the GTA.” He attributed the surge in condo purchases in large part to lower mortgage rates. “As far as we can see we have all the safe fundamentals in place and we’re seeing the benefits of lower rates.”
Roula Vagopoulos from MonsterMortgage.ca explained that the reason banks are holding off on dropping their mortgage rates is because they’re trying to get their market share. After all, a variable rate is always attractive. And at the end of the day, people just figure they can lock in at any time and get the best possible rate. “We keep expecting to see mortgage rates drop,” she predicts.
Scott McLellanTridel
