He said the building was in good structural shape, with a new boiler, painting and electrical work under way and a low mortgage.

Part of the surge in conversions last year is attributable to the low mortgage and loan interest rates.

The lowest sustained mortgage rates in a generation are a big reason why.

Nationally over the last year, homeowners have tried to lock in low fixed-rate mortgages.

"But we're making a commitment to provide at least $100 million over the next two years to make low- and no-down-payment mortgages available to moderate-income borrowers."

If it does we still ahve such a low mortgage we will still be able to service it.

Here's an idea: With mortgages so low, the best investment might be a house.

It hoped this would filter down and result in lower mortgage and loan rates for Joe Average.

Further, 37 per cent of lending was secured by a second or lower ranking mortgages.

Describes how to qualify for a low down payment mortgage, determine what you can afford, and how mortgage insurance works.