It was recently announced that the Canadian annual inflation rate slowed to 5.2% in February which is the largest deceleration since February 2020.

That is great news, especially for fixed-rate mortgages!

While most lenders are still staying put, Lotus Loans & Mortgages Corp. has one big bank lender that slashed rates late last week in mid-March and for the first time in a while, we can offer 3, 4, and 5-year fixed mortgage rates at under 5%.

Lower rates not only save on interest costs but also allow for higher qualification in terms of being approved for larger mortgage amounts.

For anybody whose mortgage is coming up for renewal, contact us at Lotus Loans & Mortgages Corp. so we may offer rates that are lower than other big bank competitors.

Hoping that we have finally peaked in terms of interest rate increases and that we are in a pause mode or better yet that rates will start coming back down soon. Fingers crossed!

If you or someone you know is in the market to purchase a home and needs a mortgage, reach out for a quote with low-interest mortgage rates.