Darrell Bellaart, The Daily News
Published: Monday, March 16, 2009

Fresh from a two-year working holiday in New Zealand, newlyweds Stefan and Sonja Iwasawa are ready to settle down and start a family. And the timing couldn't be better for the biologist and his wife, as housing prices pull back and mortgage rates drop. Falling Bank of Canada rates are gradually trickling down to the mortgage market and that's starting to attract new homebuyers, while some existing owners are looking to remortgage.

That's helping to buoy consumer confidence after sales plummeted following the uncertainty of the economic meltdown in October. Brokers are getting busier as a buyers' market develops for first-time buyers and homeowners look into cutting their mortgage payments or financing home improvements. While a gap remains between the key lending rates and how much banks charge to borrow, mortgages are heading in the right direction for consumers. "Everyone was talking about it's a good time to buy," Iwasawa said. "We just came back into the country and parents and friends were all saying you don't ever see it this low. We were thinking about doing the family stuff and we thought 'why not jump into the market?'"

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The photo is of my clients Stefan and Sonja referred to me buy a past client.

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