Factors that Influence Best Mortgage Rates in Toronto
Whether you’re new to mortgage market or an old player, you can’t know everything at once. There are certain factors that influence your chances of getting best mortgage rates. Living in the busy economic and financial hub as Toronto, one faces the problem of affordable housing. The listings are many but prices are high as compared to the neighboring cities in the same province. Knowing how mortgage rates fluctuate and which the best way to go is, you can procure the best mortgage rates in Toronto and get yourself your dream home in no time. Mortgage rates depend upon macro and micro factors. Macro factors can be described as the economy of a country and monetary policies adopted by the apex banks. Micro factors are the factors that pertain to an individual like credit score etc. Let’s take these one by one. Macro Factors The first factor is the level of the economic growth which is indicated by GDP and employment rate of Canada as a whole. Higher economic growth