April 2021 nesto-meter Report
April 12th 2021 – presented by: Chase Belair, Co-Founder and Principal Broker at nesto
You can download the report below for easy browsing!
- Since March 2020, our best rates have changed 66 times, which is an average of 5.08 times a month.
- In March 2021, we saw 2 changes in fixed rates, which kept increasing, while variable rates only saw one rate change, decreasing once again.
- For the first time since the first lockdown, the spread between the best fixed and variable rate is approaching 1%
- While home prices are still on the rise and low supply, new purchases are showing no signs of slowing down, remaining our most popular users request, at 55%!
- In the last month, our median purchase price has increased by $40,000, now sitting at $430,000, while our median down payment is now at $60,000.
- In March 2021, approval delays for a mortgage transaction are still much longer in Quebec than Ontario.
- In March 2021, while 58% of users accessing the platform had the intention to purchase a new home, that proportion fell to 41% when it came to moving forward with the process.