"The bank lowered its featured five-year mortgage rate on Wednesday to 3.74 percent from 3.89 percent. Other big banks did not immediately match the rate, but mortgage expert Robert McLister, the founder of mortgage-rate comparison website Ratespy.com, said others will move soon."
The word in the market is things are slow, well yes and no. Things are becoming more stable and everyone is in the same position, buyers you are not competing as people once were with extremely high multiple offers that were being presented on the table. With this market, you are able to negotiate with sellers who have put their homes up. With more and more homebuyers continuing to use the "wait-and-see" approach sales have slowed which makes it a very good time to go shopping.
Call your professional mortgage broker today and get the conversation started.
Full story on RBC can be found here
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