Canadians are confident that home values are increasing and are optimistic about local housing markets, the Canadian Association of Accredited Mortgage Professionals said in a report.

An October survey conducted saw citizens reply with an average score of 6.56 out of 10 when asked if this was a good or bad time to buy a home in their community, said the report, released yesterday.

Citizens are also “highly satisfied” with the terms of their mortgages, it said. For those who renewed or refinanced a mortgage in the past 12 months, the average new rate was 1.12 percentage points lower than the previous one.

With interest rates at a low it is a great time to see if it is worth your while to switch to a new rate.

Source: Carla Wilson, Times Colonist

For any information call Charmaine Idzerda at 1.866.824.8057