Black Friday Mortgage Tips for New Buyers 2022

November 21, 2022 | Posted by: Ron Chan

Black Friday Mortgage Tips for New Buyers 2022

Black Friday has become a phenomenon in Canada, as citizens have joined our neighbors to the south in their demand for deals on pretty much anything and everything. Not surprisingly, a number of you are wondering if there is anyway to score when it comes to buying a home. While sellers will never allow agents to 'slash prices' on their properties for one-day, there are particular ways to squeeze something out of this time of the year. Let's review!

3 Tips to Scoring a Good Deal on a Winnipeg Mortgage This Black Friday Season of 2022

Black Friday Tip #1: Take Advantage of Winnipeg's 30% Drop in Home Sales

According to recent Winnipeg real estate news, home sales dropped by 30% as we entered the month of Black Friday. When this happens, home values typically fall as sellers seek to unload before the end of the year. Contact your agent or Realtor right away to check prices on preferred homes.

Black Friday Tip #2: Enjoy Future Savings by Getting a Variable Rate Mortgage Today

It's true that variable rate mortgages are as high as they have been since the recession of 2008. But what this means, is that they are headed for a drop in the year ahead. The Bank of Canada is sure to end their succession of prime rate hikes (tied directly to variable rates) which means the cost of borrowing will plateau and then fall. View more on why you should choose a variable rate mortgage right now. 

Black Friday Tip #3: Get a Black Friday Break on Mortgage Rates with a Broker

Some people will tell you that there is no such thing as a Black Friday deal on mortgages. We get their point, but that doesn't mean that there aren't deals to be had this Friday (and weekend after). A number of banks and lenders are offering rebates that can put between $2000-3000 dollars back in your pocket if you commit to a mortgage before month-end. 

However, if you really want to reel in a Black Friday worthy deal we recommend that you connect to a mortgage broker before and during Black Friday. A broker will know exactly what offers are on the table from both the big banks and alternative private lenders. In addition, a broker with longstanding ties to lenders already has access to lower than advertised variable and fixed rates. These savings will be passed on to YOU. All that you need to do is call. If buying a home in the Greater Winnipeg area, contact mortgage broker Ron Chan today at 204.290.9950 to enjoy Black Friday (esque) savings on your new dream home.

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