December 2020 nesto-meter Report
December 14th 2020 – presented by: Chase Belair, Co-Founder and Principal Broker at nesto
You can download the report below for easy browsing!
- With only 2 best rate changes in the whole month, mortgage rates seem to have gained in stability.
- For the first time since nesto’s inception, our best fixed rate was lower than our best variable, by .01%
- In November, refinances remained popular
- After remaining stable for months, both the targeted purchase price and the planned down payment dropped significantly in November
- In Quebec, a lot more of our users are now “just looking” instead of “ready to buy”
- Buyers are pre-approved for a bit less than they can actually afford as a result of calculating property taxes at default values based on a % of the property value as property value increases greatly outpace municipal tax updates.