Lower Mortgage Rates Help you Keep the Wolf at the Door

By
Mortgage and Lending with Lynn Meldrum with Verico Canada First Mortgage

Well spring is here, I think.  Interest rates have reached a almost all time low and there are still houses and condos being purchased.  However right now the refinance and renewal mortgages are something to really look into.  At this point if you had your mortgage either renewed or refinanced or got an mortgage in the last 3 years you are paying more per month for your mortgage than you would if you renewed your mortgage right now and got these wonderful mortgage rates.

 

Since not everybody has a money tree we need to look at how we can continue to live right now and still have the things we need during this time.  I see that as refinance or renewal so your monthly expenditures aren't more than you monthly income.  The Canadian Government is trying to help it's citizens by keeping Prime Rate Low thus forcing interest rates down.  This seems to be working as Canada has a good ecomony even with all the instability around the world. 

The one Mortgage I will not touch is the Adjustable Rate or Variable Rate.  If you got your mortgage before This year, 2009, you probably have a rate of Prime Minus 0.5% or lower.  Anyone with this rate should sit tight with it.  It is the best rate right now.

Don't take chances with your homes right now.  It's best to get debts you have under control and have lower payments.  This way getting through this time will be a breeze once you get all you ducks in a row.  Those ducks should include lowering Mortgage Payments and credit card payments. 

Now is the time to be responsible with our debts including our mortgages.  To get a better rate and a lower payment you would be moving in the right direction during this time.  Contact me for further information

Lynn Meldrum, Mortgage Specialist

Verico Canada First Mortgage

Phone 403-554-9142

Fax  1-866-536-4235

lynn@canadafirstmortgage.com

 

 

 

 

 

 

Comments (2)

Robert May
Robert W May - Lethbridge Real Estate - Lethbridge, AB
Real estate consulting

Welcome to activerain, while you are here be sure to check out the Q and A sections and see if you have answers to some of the questions that other members are asking:  Activerain Q & A

Mar 05, 2016 02:00 AM
Robert May
Robert W May - Lethbridge Real Estate - Lethbridge, AB
Real estate consulting

Welcome to activerain, while you are here be sure to check out the Q and A sections and see if you have answers to some of the questions that other members are asking:  Activerain Q & A

Mar 05, 2016 02:00 AM