Already there are signs rates could be on the increase. The bond market — which fixed mortgage rates are based on — has been rising fast and the big banks say their most recent specials will come to an end this week. Pleae contact us to get your approvals and pre-approvals done asap.

This is a great Video on prepayment clarity for fixed rate mortgges done by our team:

http://www.mortgagebrokernews.ca/tv/the-big-story-prepayment-clarity/123579/

Over the past week, bond rates have begun to rise.  This is typically a leading indicator to fixed rates starting to move.  If you are planning to purchase a new house, or refinance to take advantage of some of the great rates available, now is the time, as the super low fixed rates won’t be around much longer.  

Did you know you can talk to a mortgage professional to not only be pre-approved, but to also secure a rate that is good for up to 120 days.  So if you’re looking for a house, you can lock in a great rate today, and have time to find the home of your dreams.

Before you sign the 2.99% with BMO, please read the fine print.

While 2.99% may be a great mortgage rate, rate is not the only factor you should be looking at.  Statistics show that many buyers break their mortgages within the first 4 years.  Some mortgages do not give the same flexibility when it comes to breaking your mortgage, either through refinancing or selling the property.  Also, pre-payment options are very important to some buyers.