Jun 16 2017
If there’s ever a good time to invest in real estate… well, it’s this. Here and now in 2017, home buying is experiencing an all-time surge. This can be attributed to a lot of factors. The economical-political scenario of Canada, economy of our beloved neighbor countries, and the spending power of folks in general. Apart from these factors, the mortgage rates have hit rock bottom this year, with the best and lowest mortgage rates being offered by Mortgage Division.
What is it that’s enabling people to finally step in their dream homes? Let’s find out.
Home based businesses have seen a record rise in the recent years. Apart from helping people find employment in these tough times, home based businesses have shed a new light in the real estate sector as well. Now we see a paradigm shift in the favor of residential properties as compared to commercial set ups. The latter is only demanded by entrepreneurs who seek an extension of their already established businesses. Home based businesses have many upsides to them. Low cost of set up, the tax benefits, low cost of transportation, these are some of the benefits of home based businesses. As we can collect that people who work from home, save a lot.
As the demand for homes increase, there’s an increase in competition between lenders. This leads to competitive rates of mortgage as everyone wants a slice of this raging trend. This fierce competition works in the favor of borrowers as they end up getting the best deals. Borrowers are even negotiating on the mortgage rates and processing fee that are being charged. Some yield and some don’t. There are certain tips and tricks that can earn you those extra brownie points but let’s keep that for dessert. After all, even a .3% reduction can make a huge difference in the span of say 10 years.
The cycle of inflation-deflation continues as we speak. Given the inflation period is nearing an end, it’s the advent of deflation as policies are reviewed and interest rates lowered to promote borrowing and spending. It won’t be wrong to say that the time is in favor of those who want to invest in property. Strict tax laws that have been curbing illegal practices of shadow buying and shady deals, are encouraging genuine home buyers to invest in their dream home.
So if you’ve been craving a home of your own, wait no more. Many good deals are awaiting you out there. For best and lowest mortgage rates, do visit Mortgage Division, their team of expert financial consultants assisting you at every step of the way.