Digital Mortgage Industry Research > February 2021 nesto-meter report
February 2nd 2021 – presented by: Chase Belair, Co-Founder and Principal Broker at nesto
You can download the report below for easy browsing!
In January 2021, fixed rates were the ones moving again, just like it was the case for most of 2020
While our best insurable variable rate back in January 2020 was at 2.95%, it is now at 1.30%, a 1.65% difference!
60% of our nesto users were looking to buy a new property in January 2021, compared to 48% a year ago, in January 2020.
In both QC and ON, 65-70% of our application requests for a new property were from users who just started looking versus found a property.
In Ontario, the median purchase price was at 540 000$ in January 2021, a 50 000$ drop since November 2020
Canadians renewing their mortgage in 2020 tend to turn their back on big banks, for the benefit of mortgage financing companies.
5% down payment is what most canadian borrowers decided to opt for in 2020, at almost 58%.
Click below to download our February report!
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