10 Year Mortgage Rate Special 3.79%

One of my preferred Lenders has reduced their 10 year fixed term mortgage to 3.79%.

I feel this term is good for many clients. Its portable, its assumable and you want have to think about a mortgage renewal 5 years from now.
 This mortgage comes with a free 12 month Home Warranty and amazing on line access to make your own changed the mortgage.
The payment difference between a 5 year mortgage and the 10 year make this a compelling product.

10 year at 3.79%. call me for details and special conditions

New A Lender

We had a visit from an old BDO friend this week who has joined an Lender just entering the A market.

The A market is the mortgage market occuppied by mostly banks.

This new Lender has some pretty impressive people in charge and I think they are going to do well in the market with a strong focus on common sense underwriting and serve.

 Follow me for more information.

New Line of Credit

Mortgage Centre Canada Brokers are now able to offer their clients an unsecured Line of Credit through CIBC. This is an exclusie offer for our clients and can be used for Deposits on Offers, renovations, RRSP contributions or any useful purpose.

Limits are approved up to $50,000 and rates are as low as Prime plus 2.75%

2013 Mortgage Rate Predictions

Some expect fixed mortgage rates to rise this year as the  Federal Government tries to keep a lid
on the housing market.  The problem with this belief is the Federal Government does not control the bond market or bank treasury departments. That's where the money comes from.

I think we are going to see a fairly flat year in fixed pricing. Fixed Rates likely won't go down below the record low rates (2.99% for 5 years)we are currently enjoying but an increase of .50% would not be devastating.

Greed  amongst the lenders for market share and a large piece of the smaller pie will keep rates priced sharply and competitive in 2013.
Tip of the day.   Get a Mortgage Broker to shop the Market for you and get Pre approved for a purchase or refinance well in advance to lock these great rates down.