Interest Rates Will Rise 1.5% By Next Year - Squamish Real Estate
Interest Rates Will Rise 1.5% By Next Year
The big banks have ended the historicly low interest rates home owners have been enjoying for the past year. The five year fixed term rate climbed by .6% which means the average Squamsih home owner will now pay $100 more for the same property. This is part of a cycle of interest rate hikes that will put interest rate up by 1.5% by this time next year. This will mean an extra $300 cost to borrow funds required for the typical property in Squamish.
Its time to start thinking about how interest rates are going to effect your purchasing power.
Morgan Rice
Squamish Real Estate REALTOR
mrice@macrealty.com
604-849-2668
