Today's GDP numbers for Canada; the emergency level rates in the economy; the housing market valuations; decent manufacturing and employment numbers (all relative) and the loonie flying under par.....it seems pretty certain that tomorrow we'll witness our first rate hike in years. Hey, that's not a bad thing for prospective buyers. Yup, mortgages become more expensive (marginal...for now anyway) but housing prices should cool. Not from a one time hike tomorrow but over time.
I'd argue it's a great time to get that preapproval and get in the game if you've been on the sidelines.
Summer listings are not as plentiful as spring or fall for that matter, but the quality can be great and the competition can fall off some.
And...if you don't like what you see this summer, then use the summer along with your agent to learn the market so you can spring into action in the fall market.
In short, take advantage either way of the late spring/early summer market buyers!
http://www.TheSmithsBuyAHouse.com
http://www.Propertiesinthegta.ca
Stay cool!
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