Neso Basara Realtor

New changes are coming for HELOC loans. Here's how this could affect you.

https://nesobasara.com/new-heloc-rules/

Economists and CREA are predicting multiple interest rate hikes in 2022, Scotia bank has said that the overnight rate could jump from 0.25% to 2% by the end of 2022. They are expecting the Bank Of Canada to start these increases as early as next week.

If you're a first-time home buyer, now would be a good time to contact your lender or broker and see if they offer a rate hold.

If you are a homeowner, the threat of mortgage rates climbing could impact home prices, and we might start seeing prices come down.

If you plan on selling, this may not be what you wanted to hear, but on the bright side, it may make your next home purchase a bit more affordable.

If you are planning on selling this year and would like to find out what your home could sell for, text " home report" to 226-286-0493 and get a free home market report.

Interest rates to increase in 2022 Over the past few years, we have seen record low interest rates. For example, the five-year average rate was as low as 1