Interest rate competition? - to help move the fence sitters

By
Real Estate Agent with RE/MAX Condos Plus Corporation, Brokerage

Interest rate competition?  - to help move the fence sitters.

 

Last week when the Bank of Canada cut the interest rate, the big banks were not in a rush to cut interest rates, but this week the talk is that the Royal Bank of Canada is the first of the big banks to drop its 5 year fixed rate to 2.84% and it is also cutting the rates for its other fixed rate products.

 

So, setting up the possibility for ‘interest rate competition’, between financial insititutions.

 

This gives impetus to buyers who are still sitting on the fence renting, and waiting to buy. Some renters just need a little more confidence in believing that they can take on a mortgage and manage their budget.

 

Posted by

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Real Estate Agent serving clients for the Toronto Downtown and Toronto Waterfront Area.

Residential and Investment Properties.

Rosalind Nicholas, ACCA,SRS,REALTOR®

e-mail:   Rnicholas@trebnet.com     Tel: 416 918 1972

RE/MAX Condos Plus Corporation, Brokerage, Toronto, ON, Canada.

http://www.youtube.com/watch?v=PMuLzqLe72M&feature=youtu.be

 

 

Comments (2)

William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.
I have several fence sitters and although I showed them how they will pay 10% more for the same house this year than last still doesn't motivate them.
Jan 28, 2015 10:34 AM
Rosalind Nicholas
RE/MAX Condos Plus Corporation, Brokerage - Toronto, ON
Toronto Condo Real Estate Agent, Toronto ON

Yes William, some people are just stuck in their own way of thinking.

Jan 28, 2015 11:20 AM

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