March 2021 nesto-meter Report
March 11th 2021 – presented by: Chase Belair, Co-Founder and Principal Broker at nesto
You can download the report below for easy browsing!
- Mortgage rates have changed a total of 67 times in the last 12 months, an average of 5.15 times a month.
- February 2021 only saw 2 best rate fluctuations in 28 days, which is 50% less than the same period last year.
- In February 2021, after decreasing for 8 months, fixed rates are going back up, while variable rates offers are going down.
- Refinance requests are showing an increase in February 2021, absorbing a portion of our new purchase volume, which is still high, representing 55% of our users intent.
- In terms of mortgage volume requests, we experienced a 148.2% increase from Jan to Feb 2021.
- While many of our users are still initially opting for the variable rate, a majority of them end up with a fixed rate after speaking to one of our advisors.
- Despite a momentarily increased interest for condos in Ontario, in December 2020, our Canadian users still show a much bigger interest for houses, in February 2021.