Rates Don’t Get Better Than This!
August 27, 2010 § Leave a comment
At the Mortgage Centre, we are independent of the banks and we love it! This is because we can offer our customers the best of what the wider mortgage market has to offer at any given point in time. Each morning we receive rate promotions and product updates from lenders across the country and sometimes, there are promotions and deals that jump off the page.
We also take pride in giving sound advice to our clients. Up until recently, we have been advocates of fixed-rate mortgages. However, in today’s environment, we have advocated variable-rate financing as the best alternative for the majority of mortgage borrowers. Given that inflation is under control we feel the threat of a dramatic rate increase is minimal. In fact, many lenders offer clients the opportunity to switch into a fixed-rate mortgage with no penalty.
Having said that, we recognize that some borrowers are more conservative and don’t want to lose sleep worrying about volatility in the interest rate market. If you are part of the group that prefers the predictability of a fixed rate mortgage, then we have something that would be right up your alley.
One of our lenders is now offering a three-year fixed-rate at 2.9%. The only catch is that this is a limited time offer so if you want to take advantage of it, keep in mind that your transaction must close by October 15.
With today’s prime rate at 2.75% and the average variable rate being offered at 2.10%, a fixed rate of 2.9% that is locked in for three years is a compelling alternative. If you’re wondering if this offer is right for you, contact us and we’ll take a look at your individual situation.