According to the Ottawa Real Estate Board, home sales increased in March when compared to the previous month. Specifically, housing and condo sales are up 7.2%. As we enter spring, it is becoming more apparent that confident buyers are taking advantage of the significant opportunity that low mortgage rates, and a good supply of housing for sale are presenting. When seen in perspective of Ottawa's long term economic growth strategy, it does indeed seem like a good time to purchase.
With mortgage rates at 3.85% or lower, refinancing a mortgage - even in light of a penalty - can make alot of good sense for many.
The average pricing of an Ottawa-Carleton home remains almost unchanged from the month before.
For further information and details on your mortgage, please contact me, Brent Richardson for the professional advice you deserve.
brent@brentrichardson.ca 519 568 3377
