Will mortgage rates go down in 2024?

March 2021 nesto-meter Report

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March 11th 2021 – presented by: Chase Belair, Co-Founder and Principal Broker at nesto

You can download the report below for easy browsing!

Key takeaways

  • 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.

Click below to download our March report!