Winnipeg Mortgage Rates in a Free Fall - Act Now!

July 13, 2020 | Posted by: Ron Chan

Winnipeg Mortgage Rates

After an odd rise in late March and early April, Winnipeg mortgage rates are dropping - and we mean dropping. Last month we reported on a 5-year fixed mortgage rate being offered at an unprecedented (for Canada) 1.99%., but this past week we’ve seen a few lenders get really competitive, allowing some brokers to offer their clients five-year variable rates in the 1.64 to 1.68 percent range. These numbers may change a little by the time you read this article, but in general the “free fall” rates are here to stay through the summer. Many residents, buyers, and investors are taking advantage. Here’s what you need to know.

5 Ways Winnipeg is Taking Advantage of Record Breaking Drops in the Interest Rate

1. First Time Buyers Are Entering the Market with Greater Comfort

These may be “uncertain times” but one thing is for certain - there has never been a better opportunity (this century) for first time buyers to jump off the fence and get a mortgage. Whether you prefer a variable rate mortgage or you are more interested in a fixed rate mortgage you’re in prime position to take advantage of historically low rates in Winnipeg. You will enjoy lower monthly payments because of it, with greater purchasing power to pay down your mortgage early if you see fit. There is simply no reason to wait any longer. Call Ron Chan at 204.222.9950 to get a quote on unadvertised discount rates.

2. Real Estate Investors Are Capitalizing

New and seasoned real estate investors in Winnipeg are chomping at the bit thanks to historically low mortgage rates. Whether they like a little risk (if you can call variable rates these days a “risk”) or a consistent payment structure in their portfolio, the investment opportunity may not look like this again for years if not decades. If you’re looking to grow your equity and real estate portfolio, call Ron Chan at 204.222.9950 to discuss.

3. Homeowners Are Refinancing 

Another area that extremely low rates are having an impact on, is the mortgage refinancing market. Homeowners looking to reduce their monthly payments to free up disposable cash are very happy at the moment. If you are considering refinancing, ensure that these three conditions are met and then call Ron at 204.222.9950 to get the ball rolling.

4. Homeowners Are Consolidating Debt

In addition to home purchase and refinancing inquiries in Winnipeg seeing a dramatic rise, debt consolidation information requests are also ticking up. It makes sense, as residents can use their home equity to take advantage of low rates and pay down high interest loans (credit card debt, etc). Click here to learn more.

5. Homeowners Are Improving Their Homes

The very low rates are also permitting people to access equity to improve their homes. A record number of Manitobans are tapping into their wealth through equity take-outs. These funds allow for home renovations, retrofits, and general upgrades. All of the above not only improve the quality of life of occupants, it can directly increase the market value (and future equity) of their home. This is another one of those “What are you waiting for?” opportunities. Learn more about how the process works here, and as always call Ron Chan directly at 204.222.9950 for some helpful guidance.

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