Brampton Best Mortgage Rates – Compare Mortgage Rates Mortgage Brokers – RateSupermarket.ca
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Toronto area (including Brampton) Mortgage Rates Will Remain Relatively Flat
The Canadian Mortgage and Housing Corporation (CMHC) has reported in their latest Housing Association Market Outlook that posted mortgage rates eased by about 50 basis points in the first four months of this year, although rates in late April were 30 to 35 basis points higher than they were 12 months prior. Mortgage rates are expected to trend marginally lower throughout 2008, but will be within 25-50 basis points of their current levels. For 2009, posted mortgage rates will begin to drift up slightly as the year progresses. For 2008 and 2009, the one-year posted mortgage rate is forecast to be in the 6.50- 7.50 per cent range, while three and five-year posted mortgage rates are forecast to be in the 6.75-7.50 per cent range.
CMHC Brampton area housing market & Brampton area mortgage rate forecast
Unfortunately, the CMHC doesn't report on Brampton specifically regarding the housing and mortgage market, however, we've included the closest surrounding areas. Total Housing Starts MLS average price Mortgage rates (1 year) Mortgage rates (5 year)
Census Metropolitan Area
MLS sales
2007
3,004
13,866
$268,857
7.35%
7.54%
Hamilton
2008 (F)
3,040
12,900
$285,000
6.95%
7.01%
2009(F)
2,890
12,100
$296,000
6.83%
6.97%
2007
33,293
95,164
$377,029
7.35%
7.54%
Toronto
2008 (F)
35,000
84,000
$394,000
6.95%
7.01%
2009(F)
33,600
77,000
$404,000
6.83%
6.97%
Source = CMHC MLS = Multiple Listings Service
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