Open House - The Real Estate & Mortgage Show: February 6th, 2021

Date Posted: February 6, 2021

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 start to move into the fall many lenders are still offering historically low interest rates at Mortgage Brokers Ottawa.

The tight housing supply and historically low interest rates continue to drive bidding wars for properties in Ottawa.  For the first time in many months there are more listings than sales. In the month of January, there were 964 sales. Residential home average sale prices were up 31% from last year with the average sale price being $677,000. The average sale price overall was up 26.4%.

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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Contact your Mortgage Broker today for trusted advice