Digital Mortgage Industry Research > 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.
Click below to download our April report!
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