If you are considering buying a house in Toronto in the Fall/Winter 2011-2012...but still in the 'just thinking about it' stage, you might want to consider contacting your Bank or Mortgage Broker to discuss interest rates.
For the past few years, the Canadian Government has kept the interest rate at record low to stimulate the real estate market. These low rates have enabled many first time buyers to enter the Toronto Real Estate Market.
It's worked! But these low rates won't be around forever. In fact. interest rates are already on the rise.
Even if you think you won't buy a house, condo ot loft right now, if you contact your bank or a mortgage broker, they can 'lock you in' at the current low rates. They may offer this lock in for 90 days, if you don't use it, simply contact them again when it gets close the expiry and lock in again.
That way, even if rates do rise, you will be guaranteed a lower rate...
It's worth doing!