Are mortgage rates going up or down?
Mortgages are getting more complicated as lenders look more closely at your ability to repay.
It sounds like an oxymoron to say - lenders are looking more closely at your ability to repay. You would have thought that anybody lending a homeowner $500,000 would have always looked closely, in fact real y close. Not so it seems by our current economic situation where banks could in the last decade resell your mortgage to large syndicates to supposedly spread the risk around.
In the end maybe it is not such a bad thing to refocus our attention on the implications of taking out a large mortgage in uncertain times.
At Kelleway Mortgage Architects, Glen Kelleway has been helping his homeowner clients for years navigate the requirements of a mortgage application. Shopping around for the best lenders has always been a given. Economic downturn aside, it always pays to get the best deal when borrowing large sums of money.
Refinancing a current mortgage to lock in interest savings is a technique that many are using to take advantage of the lower interest rates currently available. Setting up tax deductible mortgage payments is also a popular strategy in Canada that many are employing to stretch their household budget by being more creative with their monthly pay cheques.
Recently licensed in the Province of Alberta, Glen Kelleway is surviving the current economic uncertainty by providing personal service. If you’re needing a new mortgage in British Columbia or a mortgage in Alberta contact Glen today. It a phone call that could save you thousands of dollars in the next few years.
