, the Nation’s Leading Private Mortgage Professionals, Expects Interest Rates to Remain Low in 2015 as Housing Prices Moderate

Toronto, Canada (PRWEB), October 23, 2014 – , the leading low-cost, private mortgage solution provider in Canada, is announcing that it expects interest rates to remain near historic lows in 2015 as housing prices, even in the country’s three biggest cities, moderate. The company is also noting that these two factors suggest 2015 will continue to be a great time for first-time home buyers looking to step onto the property ladder.

“The Bank of Canada has suggested it will not raise interest rates until the economy experiences sustainable growth,” says Bob Aggarwal, president of “For many, that meant 2015, but a growing number of concerns suggest the bank will hold its policy rate steady at one percent next year.”

Aggarwal explains that policymakers are increasingly worried about the ongoing health of the economy in the United States, Canada’s largest trade partner. On top of that, there is ongoing concern about geopolitical tensions and a global economic slowdown.

The International Monetary Fund (IMF) said there is a 38% probability that the eurozone will lapse back into a recession in the next six months. Economic growth in Russia, China, and Japan is also an issue. As a result, the IMF lowered its global growth forecast for 2015 to 3.8%, down from its July forecast of four percent, and suggested its outlook may be too optimistic. (Source: Elliott, L., “IMF says economic growth may never return to pre-crisis levels,” The Guardian web site, October 7, 2014;

“Maintaining its key lending rate at one percent will be a boon for first-time home buyers, since this metric impacts the rate that banks offer to borrowers for mortgages,” Aggarwal adds. “While Canadian housing prices have been robust, there are signs that prices will cool across the country.”

According to the Canadian Real Estate Association, sales across the country increased 10.6% year-over-year in September, but were down 1.6% month-over-month. The average price of a home climbed 5.9% year-over-year to $408,795; home prices have continued to grow, but at a more moderate pace. (Source: “Canadian home sales ease back in September,” The Canadian Real Estate Association web site, October 15, 2014;

“Over the last 60 years, Canadian home prices have appreciated, on average, five percent. Prices will continue to rise in 2015, but it is expected they will remain below that long-term average,” Aggarwal observes. “When the housing market is hot, young buyers think that they need to get onto the property ladder as quickly as possible or else they’ll miss out. However, low interest rates, moderating prices, and improved liquidity should help first-time home buyers get onto the property ladder on their own terms.”

“Those looking to take advantage of low interest rates and buy a home in the fourth quarter of 2014 or early 2015 should contact their nearest licensed agent,” Aggarwal concludes. “Because we’re independent, we will access hundreds of lenders, looking to find clients the best mortgage with the best conditions.” is one of the largest, most trusted private mortgage brokers in Canada, with skilled independent, licensed professionals helping Canadians coast-to-coast. provides its clients with residential and commercial mortgages, home equity credit, debt consolidation, and help with addressing financing concerns. To learn more about, visit the web site .

Bob Aggarwal

Mr. Aggarwal was one of the original founders of, one of the largest volume Mortgage Brokerage houses in Canada. Mr. Aggarwal has over 12 years of experience in Brokerage and Lending in the small and medium business sector, as well as experience and expertise in the residential housing market. Since the inception of, Mr. Aggarwal has been instrumental in developing the operating platforms, and policies and procedures which have guided the organization to date.


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