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20 Sep

Are you leaving money on the table? Mortgage Market Update September 20, 2018

General

Posted by: Anne Martin

MARKET UPDATE

Are you leaving money on the table?

It’s just as important to ensure you review your mortgage options when you’re up for renewal as when you secured your very first mortgage.

Still, it appears Canadians are leaving a lot of money on the table when it come to renewing their mortgages.

An HSBC survey earlier this year of 10,000 people across 10 countries showed that Canadians are the least likely to look for a better mortgage product or rate to fit their current needs, with only 50% saying they’ve done so, in comparison to the global average of 61%.

It’s my job to ensure I get the lenders competing for your mortgage business every time you need a mortgage so you’re always matched with the product that best meets your unique needs.

Is your mortgage coming up for renewal or you’re thinking of tapping into your home equity through a refinance? I’m here to help!

Best fixed rates are as low as *3.29 – 3.69 % for a 5 year fixed,
variable rate mortgages from as low as p-.95%
Prime Rate is 3.70%

*High Ratio/Quick Close Specials
This is a critical time to sit down and review your household financing needs. Please do not hesitate to contact me should you have any questions.

If you are in the market for a home, book an appointment today to see how the recent regulatory changes by the Office of Superintendent of Financial Institutions will affect your purchase.

**rates subject to change with market conditions – *OAC  **conditions apply E. & O. E.

 

Terms Bank Rates Our Rates
6 Month 3.14% 3.10%
1 YEAR 3.34% 2.99%
2 YEARS 3.54% 3.24%
3 YEARS 3.69% 3.39%
4 YEARS 3.89% 3.54%
5 YEARS 5.59% *3.29 – 3.69 %
7 YEARS 5.80% 3.79%
10 YEARS 6.10% 3.99%
Rates are subject to change without notice. *OAC E&OE
 **Please note that rates shown above are subject to change without notice. The rates shown are  posted rates and the actual rate you receive may be different, depending upon your personal financial situation. “Some conditions may apply. Rates may vary from Province to Province. Rates subject to change without notice. *O.A.C. E.& O.E.”

 

Check with your Dominion Lending Centres Mortgage Professional for full details and to determine what rate will be available for you.