Toronto, Ontario (PRWEB) May 09, 2013
Marcus Arkan, CTO of Canadian real estate firm Syndicate Mortgages, dispels BoC’s prediction of higher rates in the future arguing that better incomes are sure to stabilize it. According to the real estate expert the real estate market’s success in spring has a lot to do with better job rates in some cities like Vancouver.
When asked about the issue, Mr. Arkan opines, “Mortgage rates in cities that are near the Pacific aren’t cheap. That’s a given. However, you have to understand that people who live there are earning a lot as well. With the state of the economy, it will only be a matter of time when the rest of the working populace follows suit”
According to a post Mr. Arkan also credits an increasing immigrant population for the trend. The real estate specialist also points out BoC’s admittance that Canada’s economy is heavily dependent on its real estate arguing that such a state of affairs has to account for something. There has even seem to be some improvement in cities where owning a home was previously harder due to current market prices like Montreal.
Mr. Arkan quotes the post by saying that since homeowners have over $2 trillion in home equity their preference for real estate is not likely to ebb soon. According to Mr. Arkan, “LTV reductions, stricter documentation and debt ratio limits might compel some analysts to predict a real estate doomsday. However, current housing trends are favorable and do not seem to be dying down any time soon. The rumors of a few analysts do not make the situation out like the housing bubble crash in the US.”
The same is the case for their trust in the real estate market. Mr. Arkan concludes his verdict by saying that it would be ridiculous to assume that affordability is the only aspect that is associated with how the country’s real estate market fares. Factors like utilities, property taxes and average income also play a very vital role on the type of mortgage rates that are available in each region. The CTO of Syndicate Mortgages also advises people to research their options before settling for any real estate in any area.
About Syndicate Mortgages
Syndicate Mortgages is a Canadian based firm that specializes in helping future homeowners look for the most suitable mortgage rates in the country. The leading real estate company has access to over 70 Canadian mortgage lenders as well as major banks, credit, unions, trust companies as well as private funds. In addition, the firm also includes industry specialists who analyze current market trends in order to find mortgage rates that cater to every individual need. The experts offer consultations on real estate trends and also offer real estate products. For more information, please refer to the following -
Syndicate Mortgages Inc.
Toll Free: (888) 646-1062