First-time buyers can take advantage of a $10,000 rebate, five per cent down payment, mortgage rates as low as 2.89 per cent, and of course, a brand new home by an award-winning builder.
Canadians have enjoyed record-low interest rates for some time now. With an uptick in the US housing market, however, interest rates in Canada are expected to increase. What would a one per cent increase on the best five-year fixed rate of 2.89 per cent mean? A family on a household income of $65,000 would lose $40,000 in purchasing power, that is, their maximum mortgage amount would decrease by $40,000. This anticipated loss in purchase power has motivated first-time buyer to kick their home shopping into high-gear.
And speaking of FREMONT BLUE, we recently got our hands on a virtual tour of their FRASER Series two-bedroom plus den model home. Take a peak below:
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