According to a number of real estate experts, the city of Windsor is among the most affordable Canadian cities to live in today. Predictions from the Canada Mortgage and Housing Corporation (CMHC) indicate that as the demand for affordable housing among Canadians who are feeling the pinch of the bigger cities continues to grow, so will the demand for housing in Windsor.

This is certainly a very unique market, one that is not sought by too many outside investors. But those who are keenly studying the market are finding it quite appealing and are seeing a great future in Windsor.Once Ontario’s recession ravaged city, Windsor is slowly turning into one of the hottest real estate fields in the country.

If you are thinking of mortgages Windsor offers, consider the following factors:

Rebuild Your Mortgages Windsor Credit

While in the market for the best mortgage rate, it’s advisable to obtain a copy of your personal credit report. In case of any errors, try and have them corrected by the appropriate credit agency or bureau by writing a letter to them.

Try and pay down your outstanding debts as much as possible. This is because the higher your credit score is, the better the terms of mortgage you are likely to get. If necessary, consult a reputable Windsor credit counsellor and get guidance on the best ways of handling your debts.

Fixed or Variable Rate Mortgage

When shopping for the most cost-effective Windsor mortgages rates, you may want to evaluate whether a fixed or variable mortgage rate is the most suitable for you. A variable interest rate mortgage will demand that you have some good measure of risk tolerance to cope with possible rate fluctuations. The rate could come down significantly and impact your mortgage positively, or if the economy takes a downward turn, it could impact you negatively.

However, with fixed mortgages, the interest rate stays stable and fixed for the duration of the mortgage so you know precisely what needs to be paid and can easily budget accordingly. But in case of a fall in overall market rates, yours may not come down, so you lose that potential economic gain.

Compare Different Lenders

When choosing the most suitable mortgages Windsor lender, it is prudent to spread your net wide. Don’t pick the first one that appears receptive, as there are several financial institutions and banks to choose from. You may even try several credit unions for purposes of comparison.


There are more indications that point to even better times ahead for the housing sector in Windsor. In a housing and employment report last fall, the CMHC predicted that the unemployment rate in Windsor will fall below 8% by 2016 — largely buoyed by the recovery in the American economy. Another major contributor is the construction of the Gordie Howe International Bridge that crosses the Detroit River, connecting Canada and the USA. You can learn additional information at WFCU Credit Union.