Lower Interest Rates may push more Homebuyers into our Edmonton Real Estate MarketPosted by Robert and Shawna Eskiw on
Lower interest rates in our already "Hot" Edmonton Real Estate Market is a match made in heaven for all you potential buyers - whether you are refinancing, a first-time buyer, moving up or moving down. With Canada’s top 5 banks following suit to the Bank of Canada’s key rate cut for a second time since January, their prime rates are currently at 2.70%. TD Bank lead the other 4 banks, RBC, BMO, SCOTIA & CIBC to cut their prime rate by 0.15% from 2.85%, “a shallower reduction from the central bank’s 0.25-point cut”. However, this gives you more power when shopping around for a mortgage - cheaper rates equal more saving potential. The biggest impact will be seen on variable rate mortgage products.
Anyone trying to sell a home this is a good…
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