, a far cry from the Bank of Canada’s 2% target — the report notes that “the hope of rate stability” may be enough to tempt buyers to make their moves in the coming months.According to RATESDOTCA’s mortgage quoter data, fixed-rate quote volumes have been 75% higher than variable-rate quote volumes over the past four months. Compared to a year prior, fixed-rate quotes were up 121% in January, while variable quotes rose only 46%.
In addition, down payment amounts fell 7% year over year in January. The report attributes this, in part, to softening home prices.
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