There was a time when I told my clients that mortgage rates were at historical lows when rates dropped below 4%. I can say for certain that 2021 mortgage rates have now ultimately hit a record low. The lowest actual rate I’ve encountered was from one of my buyer clients who closed at 1.2% earlier this year. However, what keeps on creeping up are housing prices, gasoline, and inflation rates.

Free Money

Recently, the rate of interest for a mortgage in Canada fell below the rate of inflation. With Canada’s inflation rate being at its highest level in a decade at 3.6% in May [2] while a 5-year fixed is can be as low as 2.10%, you are essentially getting ‘free money” (1.5% back) as a borrower.

(i.e. and when  the mortgage interest rate equals the inflation rate, it means you’re getting a free loan.)

Mortgage Interest Rates Haven’t Been This Low since the 1970s

This is a rare occurrence. “The last time real estate rates were this negative was over 40 years ago. That was in the middle of an inflation crisis where everyone bought property to hedge. It produced a bubble, which violently popped shortly after.” [1]

Will history repeat itself? Especially when Canadian mortgages are at 5-year fixed terms?

And with soaring housing prices, is it worth taking advantage of such low mortgage rates? Most Canadian homeowners move every 5 years anyway. If you’re not sure, be sure to check with your mortgage guy or gal. (Don’t have one? Just let me know and I will get you in touch with a seasoned and reputable specialist).



Toronto Stats this Past week

MLS activity from July 28 to August 3 for residential properties:

For Sale:


Newly Listed:




↓For Rent:


Compare the above to the week before from July 21 to 27 when there were
5,245 for sale, 913 newly listed, 421 sold  & 5,379 for rent.

Today’s newest listings


Under $950k $950k to $1.2M $1.2M to $1.6M
$1.6M to $2M $2M to 3M Over $3M



Under $500k $500k to $600k $600k to $700k
$700k to $800k $800k to $1M Over $1M



GTA Fixer Uppers Ontario Foreclosures Map Search 

(Email or call me directly for specific sold or off-market properties)

If you would like me to look up any other numbers for you, just call or text me 647-804-8601. Let me know how I can help with your (RE)search.