Don’t Panic-Buy: Why This Specialist Warns Against Mortgage Rate Fears
Veteran mortgage broker Ron Butler says that as the Bank of Canada is expected to raise interest rates, some realtors may urge prospective home buyers to act quickly to avoid potentially higher borrowing costs. But Butler advises buyers not to rush, saying there could be further changes in the market. Butler, who has worked in [...]
As the Bank of Canada is expected to increase interest rates, some realtors might encourage prospective buyers to act fast to avoid higher borrowing costs. However, veteran mortgage broker Ron Butler advises against rushing into a purchase, suggesting that market conditions may change further. He notes that while rapidly increasing fixed mortgage rates could prompt a slight increase in activity from buyers with existing rate holds or pre-approvals, caution is advised against real estate agents pushing for a quick decision.
- The Bank of Canada is expected to raise interest rates.
- Some realtors may pressure buyers to act quickly due to potential rate increases.
- Veteran mortgage broker Ron Butler advises buyers not to rush their purchasing decisions.
- Rising fixed mortgage rates might cause a small increase in activity from buyers with rate holds or pre-approvals.
- Prospective buyers should be wary of real estate agents urging them to buy within a short window.
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