Quote:
Originally Posted by cafe22
We recently locked down and placed the initial down payment for a pre-sale townhouse that will be completed by late 2022 (probably early 2023 with delays).
Is there any way to lock in a mortgage now so that we can take advantage of the <1.9% rates? Or do we have to wait until 120 days before completion date?
|
You are probably still good into 2022, BoC released that they don't plan on raising rates until 2023. Obviously that's not set in stone but it doesn't look like covid's effects would be gone until at least end of 2021, and it'll take some time to recover from there.