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Posted On Jan 03, 2024

Hello and Happy New Year! 
 
It's time to shake off the Christmas dust and get back into the swing of things to make for a strong 2024! 
 
Here's some info to keep you updated:
 
Current best mortgage rates (O.A.C):
  • Fixed rates range from 5.24% - 5.91% (Avg rate = 5.58%)
    Approx $615/month for every $100k based on a 25 yr amortization  
  • Variable rates range from 6.20% - 7.00% (Avg rate = 6.60% with Current Prime Rate of 7.20%)
    Approx $676/month for every $100k based on a 25 yr amortization
*Rates are subject to change without notice.
 
Market Outlook:
Economists expect fixed rates to dip throughout the first half of 2024 to relieve some pressure on the economy, then climb back up slightly in the latter half of 2024 and into 2025. A strong spring market is likely going to happen. These are predictions but time will tell. 
 
 
Feel free to call me with any questions. 
 

Danny Bell, AMP
Mortgage Broker | Lic.#M13001996
T. 289-200-9061
The Mortgage Centre
Durhammortgage.com Ltd. 
Reg. #10231

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