How about not a 5 Year Fixed?
Is the 5 year rate really the best bet? With larger discounts on variable rate mortgages and spreads between variable and fixed rates growing, the 5 year fixed may not be the best bet anymore. Even if you want rate security, a 4 and then 1 Strategy might be the best move. This is where you take a 4 year fixed and then a 1 year fixed, 4 years from now. 4 year money will be cheaper than the 5 year over the next 4 years and as long as 1 year money does not jump by over 2%, you will be better off over the 5 year period. Mortgage Connection is always looking to save you money!
2013 Alberta Flood Update
The floods in Southern Alberta have been devasting. Mortgage Connection wants to advise clients in flood impacted areas, that mortgage relief is available. Please contact our office and we can discuss your options. Whether it is decreased payments, deferred payments, or just a use of a truck-we can help you during this difficult time.
Deciding on what mortgage is more than just fixed or variable
Financial advice expert Bruce Sellery, answers a question about what mortgage to take. Check out his response and some insight from Mortgage Connection broker, Joe Jacobs.
Click here: Moneysense.ca
The first major changes as a result of tighter bank regulations have hit the market. This week most lenders have reduced Home Equity Line of Credit products (HELOC) to 65% loan to value-down from 80%.