Blog Article

Thursday, 07 March 2024

By Leahs Mortgages

Leah Zlatkin quoted in CMP Magazine: ‘Steady interest rates prompt rush home purchases in GTA’

The Bank of Canada’s decision to hold the overnight rate steady at 5% is sparking a surge in demand among homebuyers in the Greater Toronto Area (GTA) as noted by mortgage expert Leah Zlatkin.

“Despite the Bank of Canada’s decision to keep the rate stable, we’re witnessing a surge in demand within the GTA housing market. This is largely driven by the consumer expectation that interest rates will soon decrease, prompting a significant increase in the number of pre-approvals we’re processing. Buyers are eager to secure homes now, anticipating that competition will escalate as interest rates start to fall,” Zlatkin said.