Mortgage Rates Remain Low….. What’s
Going On?
Fall of Interest Rates
Well simply put, Canada’s Bond Market is very attractive to
outside investors and this has made our Country the safe haven for foreign
investors. What has this done to our Mortgage Rates?
“Canada is seen as a
beacon in the financial world, so bond offerings from Canada's biggest lenders
are in strong demand. Cheaper borrowing for the banks has in turn allowed them
to seek new customers by cutting their consumer rates.” This taken directly from an article (link
attached below) states our low rates for
mortgages are a direct result of the strong demand for our bonds by
international consumers.
Now is the perfect time for you to revisit your current
mortgage contract to see if it’s worth breaking your mortgage to lock in the
all-time, new low rates. Also for those
lucky consumers who are up for renewal, this is the perfect time to have a
Mortgage Professional shop around to get you the best rate possible.
Banks are limited to their product only so before you sign
that renewal notice that came in the mail, it is imperative you seek a second
opinion to make sure that what is being offered to you is in your best interest
financially.
Mortgage Brokers work for you, not
the banks and not any one specific lender. It costs you nothing to get that second
opinion so give us a call today to discuss your options, can you afford to
wait?
