Twenty-five years ago, who would have thought that Canadian home-buyers would someday be receiving mortgage rates under 3, and even 2 per cent? For those of us who purchased when rates were into the double digits, it’s incredible. I mean, those are the kinds of rates our parents and grandparents had when they bought homes. What’s even more unbelievable is that many experts predict these low rates will be a reality for a long time to come.

I say Bravo to Canada for upholding stringent banking fundamentals that require mortgage insurance if the principal amount of the mortgage results in a loan-to-value ratio greater than 80 per cent. Our Canadian lenders typically keep mortgages on their books rather than selling them, and our conservative underwriting standards have set the bar for half of the world. We are so fortunate to live in a country that avoided the sub-prime debacle our friends south of the border experienced.

Whether you are a first-time buyer, move-up buyer, right-sizing empty-nester or investor, if there was ever a great time to buy a new home or condo, it’s now!