Open House - The Real Estate & Mortgage Show: June 20th, 2020

Date Posted: June 20, 2020

Realtors and Mortgage Brokers are continuing to adjust their practices to meet the needs of clients during Covid-19, but it is now business as usual.  The housing market is doing very well in the Ottawa area as we move into the summer months.

There has been an increase in active home listing in the past week.  There are currently 1938 homes for sale in Ottawa.  In the past week there were 586 new listings.   From that number there were 246 homes listed for sale in the last 24hours.  And in the past 48 hours there were 378 homes listed for sale.  First time homebuyers entering the housing market will have some competition at the moment with limited property listings driving more multiple offers, as demand currently outstrips supply.

The fixed interest rate market continues to be at all-time lows, as well as variable interest rates.  Variable interest rates are low and likely to remain low for quite some time.  As such, it is a great time to reach out to your Mortgage Broker and secure a mortgage Pre-Approval.  By locking in an interest rate for 120 days you are securing a rate in this low rate environment.

Having a trusted Realtor and Mortgage Broker during these fast-changing times is essential in making informed decisions.

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Contact your Mortgage Broker today for trusted advice