April Market Statistics

Market Insights

The market has seen a decline compared to the same time last year but inventory is still low and as the interest rates are starting to level out we are seeing a increase in buyers confidence and inventory starting to move quicker and some with multiple offers. Most offers are back to seeing conditions of financing and home inspection now which will give any buyers a chance to get into the market. April will probably see an increase of sales compared to the last quarter with the warmer weather and government moves starting.

Keep in mind this is a very general market update and specific to your area can be different if there is no inventory.

Current Interest Rates

5-year fixed ranges 4.64% – 5.24%

Variable rates ranges 6.45% – 6.70%

There is flexibility in these rates depending on what your plan is.

If you’re up for renewal reach out for a second quote to a trusted mortgage broker before you just renew your mortgage. Let me know if you need a recommendation.

As always if you have any questions please reach out.

Download the PDF – Market Snapshot – 2023

Lynn

613-686-2064