Builders now offering half-price mortgages, but still no takers
Countless builders are stuck with newly constructed homes they can’t sell. It’s not because their product isn’t good. It’s because many folks can’t buy due to ridiculous unaffordability — or won’t buy because of market uncertainty.
To snap potential buyers out of this trance, builders are dangling the carrot of mortgage incentives. Take CountryWide Homes, for example. It’s pitching three-year mortgage rates at just 2.34 per cent. That’s less than half the standard market rate.
Read More: https://financialpost.com/real-estate/builders-now-offering-half-price-mortgages-but-still-no-takers
