Best mortgage rates for Hamilton on RateSupermarket.ca
If you are looking to search for the best mortgage rates in Hamilton, you've come to the right place. RateSupermarket.ca compares over 55 mortgage lenders and Hamilton mortgage brokers so you'll be sure to find the best mortgage rates in Hamilton. You can either go compare Hamilton's current mortgage rates now, at http://www.ratesupermarket.ca/best_mortgage_rates/Hamilton.html, or look at the latest Hamilton mortgage news listed below.
Toronto area (including Hamilton) Mortgage Rates Will Remain Relatively Flat
The Canadian Mortgage and Housing Corporation (CMHC) has reported in their latest Hamilton 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.
Hamilton 2008 Housing Outlook
The CMHC believes that average single-detached home prices in Hamilton will rise in response to rising construction costs. Last year, the average price of new single detached homes fell by 7 per cent in Hamilton, following several years of strong price appreciation. Following several years of a very good sellers' market, Hamilton’s housing market is expected to cool down in 2008. Slower employment growth and rising mortgage carrying costs will dampen demand from home buyers. Home sales in Hamilton are expected to fall 7 per cent to 12,900 sales – similar to levels seen prior to the housing boom in 2004.
CMHC Hamilton housing market & Hamilton mortgage rate forecast
Census Metropolitan Area Total Housing Starts MLS sales MLS average price Mortgage rates (1 year) Mortgage rates (5 year)
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%
Source = CMHC MLS = Multiple Listings Service
Mortgage lender's and mortgage broker's rates that we compare in Hamilton, Ontario, Canada
RateSupermarket.ca compares the most mortgage rates in Hamilton, Canada from the top lenders including banks, credit unions, trusts, and are also the only site to compare Hamilton mortgage broker's rates. RateSupermarket.ca compares mortgage rates from the following:
AGF Trust Alterna Bank Alterna Savings Bank of Montreal Bank of Nova Scotia Bridgewater Bank Caisses Desjardins Canadian Tire Financial Services Canadian Western Trust Cataract Savings & Credit Union CIBC Mortgages Citibank Citizens Bank of Canada Comtech Credit Union Concentra Financial DUCA Financial Services Effort Trust Equitable Trust First National Financial FirstLine Mortgages FirstOntario Credit Union Home Trust Company HSBC Bank Canada ICICI Bank Canada ING Direct Investors Group Trust Lambton Financial Credit Union Laurentian Bank Canada Libro Financial Group London Life Manulife Bank MCAP Meridian Credit Union National Bank Ontario Civil Service Credit Union PACE Savings and Credit Union Parama Credit Union Peace Hills Trust PC Financial Promutuel Capital ResMor Trust Royal Bank of Canada So-Use Credit Union Steinbach Credit Union TD Canada Trust True North Mortgage Virtual One Credit Union Windsor Family Credit Union Your Credit Union Your Neighbourhood Credit Union
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