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a man is walking down the street in front of a house.

S
sunny gill

Prompt

In 2024, the rate at which money is borrowed overnight remained constant, resulting in a decline in fixed home loan interest rates. For instance, the interest rate for a fixed mortgage over a period of five years decreased from 5.49% in October to 4.89% by January. The increase in interest rates has had an impact on both individuals who own homes and those who rent, as rental rates have risen by 22% in just two years. To evaluate the affordability of housing, Zoocasa examined the average rental prices and mortgage payments in 26 Canadian cities using the December 2023 averages. The study revealed that in Winnipeg, the typical monthly rent of $1,526 closely aligns with the monthly mortgage payment of $1,521, making it an especially affordable market for those looking to purchase a home.

INFO

Type

Text-to-videoWj

Date Created

February 7,2024Wj

Dimensions

1024×576pxWj

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