The Canadian economy continues to thrive with a high employment rate, a strong dollar and a relatively low cost of borrowing.
In fact,more ﬁrst-time purchasers are expected to take advantage of the reasonably low mortgage rates, longer amortization periods and subsequently more affordable monthly mortgage payments.
If you've been holding off making a move, wondering if Canada will follow in the turmoil of the U.S. real estate market, rest assured that the problems stemming from the U.S. "subprime meltdown" do not necessarily apply to the Canadian real estate market.
For one thing, the mortgage products offered in Canada are different than those offered to our neighbours to the south. In addition, our subprime market is just a small part of our mortgage market, so the extent of any problems within that market do not affect our overall economy as in the United States.
Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
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