Sunday, April 26, 2009

Interest rates are amazing

If now isn't the time to buy real estate I don't know when is. One of my variable mortgages is down to 1.9%. We've also heard of a colleague getting 3.5% on a commercial loan. The Bank of Canada has indicated that rates will stay this low until the first or second quarter of 2010.

We've got soft prices and low interest rates which seems like a sale to me. As long as it's backed by economic fundamentals it doesn't mean go and buy in Windsor with it's auto companies shutting down or Williams Lake with the sawmills closing.

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