May 2021 nesto-meter Report

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

You can download the report below for easy browsing!

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Key takeaways

• Since April 2020, our lowest rates have changed a total of 55 times, which also means an average of 4.23 times per month.
• For the first time in over a year, there were no changes to our lowest rates in April 2021.
• In April 2021, the real estate market is still hot, and new purchases still represent a little over 50% of our overall demand.
• April 2021 is seeing slightly more renewals than refinances, following the trend we observed in March versus February 2021.
• Looking at our total Canadian volume requests, we saw a big jump in April compared to March 2021, with a 31% increase in overall demand.
• Ontario: Approval delays for new purchases have significantly improved due to the introduction of a new lending partner in the province.
• The largest number of our users since nesto’s inception are opting for a 5 year variable rate mortgage.

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