Thursday, 24 October 2024
By Leahs Mortgages
Leah Zlatkin quoted in CTV News: ‘Major interest rate cut expected to shift Metro Vancouver real estate market’
“This is great news for anybody who’s got a variable rate mortgage right now,” said Leah Zlatkin, licensed mortgage broker and COO of Mortgage Outlet.
“What this means is that for every $100,000 in mortgage money that you’ve currently borrowed, you’re actually looking at a (monthly) decrease of $29.96, so for a lot of homeowners, that’s going to feel like a big relief.”
Zlatkin says this is an opportune moment for buyers to make their move.
“It is currently a buyer’s market. You need to get in before everyone else does. For those people who are sitting on the fence, you want to certainly get in before them. A lot of these fence-sitters will be getting off that fence in Q1 of 2025 and it’s better to be in a market where there’s less competition,” she told CTV News.
