Open House - The Real Estate & Mortgage Show: August 1st, 2020

The housing market in Ottawa is now stronger year-over-year than in 2019, as we enter the latest phase of reopening during Covid-19. As we move into the summer months a handful of lenders are offering historically low interest rates at Mortgage Brokers Ottawa.

There has been a reduction in the number of active home listing in the previous week. There were just under 1681 homes for sale in Ottawa in the last week compared to over 1800 weekly we consistently observed for the previous two months. Last week there were 501 new homes listed for sale and 695 properties sold. The number of listed properties is unable to keep up with the demand for home sales and that is why we are seeing fewer overall listings week over week.

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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