What should you do in Ottawa to get the best mortgage?
CTV
More than two million Canadians will renew their mortgages over the next year-and-a-half. CTV News asked more than 50 mortgage brokers across Canada how to get the best mortgage deal. This is what we found.
More than two million Canadians will renew their mortgages over the next year-and-a-half. CTV News asked more than 50 mortgage brokers across Canada how to get the best mortgage deal. This is what we found.
Brittany Sousa is paying attention to interest rates like never before.
"We're definitely watching it very closely because we have to renew in July," she said.
Sousa and her fiancé bought their Orléans home before the pandemic and after five years planned to move into a bigger home. High interest rates have halted that plan for now.
"Definitely on the backburner," Sousa said. "We're going to probably stay in the house for definitely a little while longer and just continue to build up our equity in the home and then hopefully re-evaluate and hope that things start to balance out."
CTV News Ottawa spoke to five local mortgage brokers to get their opinion on the market.
"Well, we're definitely anticipating that we're on the cusp of the Bank of Canada reducing the interest rates either in June or July. Once that starts to happen, though, we are anticipating it will be a slow decrease in rates. It won't happen quickly, and it won't happen aggressively like it did when the rates went up," said Sue Hameed, mortgage broker with Mortgage Architects.
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