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!

---

Key takeaways

• 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.

---