We are aware buying a new home is a big decision in your life. We’ll help you get the best mortgage rate, even from a bank.
Barrie is ideal for both quiet family living and vibrant city life. It’s close to Toronto and nearby ski areas like Collingwood and Wasaga Beach. Shopping is great too, with local boutiques and outlet malls.
If you love the outdoors, explore the downtown, walk the waterfront trails, or sail on Kempenfelt Bay. Barrie also has plenty of family-friendly activities. Come and discover what makes Barrie special!
Best Current Mortgage Rates in Barrie: Secure Your Dream Home Today!
Our experienced mortgage brokers Barrie can help you save thousands. Banks often charge higher rates, but when you apply with us, you’ll notice the difference in the better rate we offer.
Mortgage Rates in Barrie
Explore the Latest Mortgage Rates in Barrie, Ontario for Your Next Home
As of Tuesday, September 17, 2024, Barrie’s interest rate is 4.19% for the 5-year fixed mortgage and 4.69% for the 3-year fixed mortgage. It’s important to compare different rates to get the best deal.
High interest rates make it more difficult for Barrie residents to qualify for a mortgage and buy a home.
Experts predict that numbers could slowly decline over the next few years, but there is no clear timeline for a significant decline.
House prices are still high. National house prices fell 3.9% year over year to $724,800 in July 2024. In Ontario, prices fell 4.5%, now at $877,300 House prices fell 5.0% to $1,097,300 Until it happened.
Ottawa saw a small increase of 0.1%, bringing the average to $648,900, while Hamilton's prices fell 3.3% to $843,500.
How to Get the Best Mortgage Rates in Barrie?
Even though rates are currently high, there are ways to get a better deal. Here are some tips to help you find a lower mortgage:
- Shop Around: Different mortgage lenders in Barrie offer various loans. So it’s important to compare products from multiple banks, credit unions, and mortgage brokers. Don’t settle on the first offer.
- Improve Your Credit Score: Borrowing at a higher rate can help you get a lower mortgage. Check your credit score before you apply for a mortgage and try to improve it by paying off debts, paying bills on time, and reducing credit card balances
- Choose the Right Mortgage Term: If you think rates will drop over the next few years, you may want to consider a shorter-term mortgage. It includes a 1-year or 3-year fixed rate, just in case new at a lower cost in the future
- Negotiate with Lenders: Don’t be afraid to talk to your lender. If a competitor has offered you a lower rate, use that as leverage to ask the lender for a better deal.
- Consider a High Down Payment: Reducing the principal amount decreases the total amount that you owe. It can help you get a lower credit score and lower your interest payments over time
Consult our Mortgage Experts
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