Should you break your current fixed-rate mortgage and refinance for the best mortgage rate?

Whether or not you should refinance  comes down to your own individual situation, but, we think that in general the extremely low interest rates currently being offered are worth it for most households. The most successful way to determine if now is the time for you to refinance for the best mortgage rate is to meet with a certified mortgage broker like the ones at the Vancouver Mortgage Team and ask them to help you determine if the penalties for breaking your mortgage are too high, or if the lower long-term interest rates will cover the costs. The penalties vary by financial institution, but the basic premise behind them is that to break out of a fixed-rate mortgage at one price to move to a lower one, you need to compensate the lender for the interest it would lose by letting you switch from a higher interest rate. 

How can a Mortgage Broker help you refinance for the best mortgage rate?

Using a good mortgage broker can help you determine what the penalty for breaking your mortgage is. Penalties are determined based on the difference between your higher rate mortgage and the new mortgage rate (known as the interest rate penalty) and the amount of time remaining on the higher-rate mortgage’s term. This calculation can be quite difficult to determine without the assistance of an experienced mortgage broker since financial institutions vary in the way that they calculate the penalties. There’s no question that low mortgage rates are ideal for first-time home buyers and those who are looking at mortgage renewals but does that mean that this is the right time for you to refinance? It may be, and due to the rates it’s certainly important to talk to a mortgage broker in case you have the opportunity for significant savings.

If you’re thinking of refinancing your current fixed-mortgage and taking advantage of current low rates why not contact our Vancouver Mortgage Team to let us help you determine your best mortgage options. Our experienced mortgage brokers are always available to help first-time home buyers, and those looking to refinance get the best rates possible. 

Generally an average consumer having a little or no knowledge at all about the finance industry finds it cumbersome and terrifying to reach a decision when it comes to selecting a particular debt instrument. Mortgage is one big financial commitment which requires careful and analytical study of the prevalent market conditions of the particular area as well as of the global economy. The mortgage market is definitely competitive just as any other market sector. Having said that, it is also incredibly confusing for a layman. With the rise in the competition, usually the prices go down and this results in an increasing chance of selecting the type of mortgage that suits best to your budget and lifestyle.

Before getting into the deal, it is always better to do some homework for yourself. Start with discovering the various options available at present. Then proceed further by selecting the bank or the mortgage advisor to assist you in the further proceedings.

Available mortgage types

Basically there are two different types of mortgages:

1.        Interest only or an interest first loan.

2.       Repayment/Principal interest or amortization loan.

Every borrower decides depending upon his own capacity to repay and his personal circumstances which one to choose for himself. One might consider the questions like: How long am I going to own the home? Is my budget enough to manage these regular payments? Will my finances change in the short-term or long-term future? Do I crave the stability of a fixed rate or an adjustable rate will be good?

An average person gets the home in 4 to 7 years and they have a mortgage in about three and a half years, according to the National Association Realtors.

1.        Interest only mortgage

In an interest only mortgage, the borrower makes the repayment of only the interest on your loan. For this scenario, the borrower is to choose the investment that is going to mature to pay off the entire outstanding amount. The outperformance or the underperformance of the investment determines the profit or loss to the borrower.

2.       Repayment Mortgage

In the repayment mortgage, the borrower has to make the payment of both the interest amount and the principal or loan capital. It ends when the amortization balances to zero and full payment has been made. Every time the borrower makes the payment, it reduces the outstanding balance and by the end of time period the loan is finally written off. Such mortgages are considered to pose less risk on part of the borrower.

Types of Repayment method

These were the types that decide how the borrower will choose to repay the amount of mortgage loan. Now proceeding further he has to decide what type of repayment method to select. There are a lot of repayment methods, so always go for the one that suits you the best.

1.        Fixed rate mortgage

 Fixed rate mortgages are the traditional loans in which the borrower pays the fixed interest payment over the life of the loan amount usually for 30, 20 or 10 years. The principal and the interest amount stay the same and the downpayment is as reasonable as 5%. This is suitable for the borrower who is not much of a risk taker and avoids surprises. Such predictable payments, over the life of the loan amount keep him at ease.

2.       Adjustable rate mortgage

Adjustable rate mortgage starts off with a lower interest rate and as the market fluctuates, the interest rate payments change accordingly. A typical adjusted rate mortgage is adjusted frequently and most of the time annually. The increase in capped for any given year over the loan life. People who expect rise in their income in times to come prefer this type of mortgage as they presume that they will be better off to make the high interest payment too.

3.       Balloon mortgage

Balloon mortgage works for those who expect to move in the upcoming years, say next nine years, and prefer a lower interest rate while not availing the adjustable mortgage. If the borrower is still there after nine years, then he will have to opt for another mortgage to pay back the first one.

4.      Jumbo loans

Jumbo loan is a type of mortgage which has loan payments which are larger than the average ones.

5.       Mortgage refinancing

Mortgage refinancing refers to paying off the existing loan with the proceeds taken from the new loan. Opting for this mortgage, the borrowers get benefit of the lower interest rates or better mortgage terms.

6.      Mortgage Renewals

Sometimes when the borrower is asked to renew his current mortgage, he does not consider it much different and signs it without even noticing the factors that his lender does not disclose to him. In such a case, get the service of some reliable broker and make a wise decision. Don’t forget that the finest professionals of Vancouver Mortgage Team (VMT) are just a call away!

7.       Home Equity Line of Credit (HELOC)

 This line of credit is for borrowers who want to leverage equity portion in their homes and get away with some other financial plans. HELOCs are a flexible and relatively inexpensive way to borrow money and they can be paid off at any time without penalty.

8.      Investment/Rental Property Financing

 There are a few laws in Canada that can make such loans as rental property financing a bit tedious task.  But there is no need to worry at all since Vancouver Mortgage Team (VMT) is at your service to get you the best investment property market and helps you meet all the borrowing requirements. Hani Faraj, the highly competent mortgage advisor, asisits you so much so that he sets meet-ups with capable accountants just to make your mortgage a tax-deductible expense.

9.      Commercial Property Financing

This mortgage consists of calculating a borrower’s ability to repay the loan and other expenses based on the business that is to be housed on the property. With the assistance of commercial loan experts employed at Vancouver Mortgage Team (VMT), the borrower gets the best rate possible.

10.    Some other Financing Services include:

1.        Mortgages for vacation properties

2.       New construction loans

3.       Mortgages for properties in the United States

4.      Mortgages for multi-unit properties

5.       Financing for equipment leasing

Every borrower must understand the fact that with every monthly payment he invests in his house, he is collaring that equity in his home.

Manage your mortgage decision

Management of your mortgage decision means how you are going to watch your mortgage. Do you have an interest only loan or do you have a fixed rate mortgage? Since the risk is on both sides of mortgage equation, the risk for a long term loan or 30 year fixed loan versus and adjustable rate mortgage would be determining the difference in payments. There is a monetary difference on a monthly basis and management means how you manage that. Are you paying that debt or are you just investing in it? Such management is vital to reach a firm decision.

Mortgage amount and your decision

Ask yourself, do I need  a lower payment or do I want a lower payment? While doing so determine whether you are looking at it as a necessity or as an opportunity. Necessity would be that you have to have a payment because you can’t afford a payment higher than that and you have to put that x number of dollars down to get that home. An opportunity would be that your are taking the reduced payments so that you can keep some saved in bank or you are keeping it so that you can:

 a) invest it further

b) pay consumer debt

So the amount really comes into way to what your timeline is and how you feel about investing in your house.

Your mortgage loan and discipline

It is when you discuss with your mortgage advisor the types that you realize the inability to figure out yourself the difference between amortization loan or the fixed term mortgage loan. Hence discipline to follow your plan despite all the market changes is the most vital part in whole planning process. Make sure that you review your plan.

Mortgage payment

Mortgage payment is directly going to be linked to the terms you have locked in your mortgage deed. Mortgage payment is usually short term which is 1 to 3, intermediary which is 5 to 10, or long term which is longer than 10 years. Within that payment structure you are going to have either an amortization loan or an interest only loan and come up with the most proper loan. The most popular mortgage these days is a 30 year fixed loan but also the most expensive interest rate wise since the longer you are securing that interest rate, the less risk you are taking, the shorter term loan includes more risk hence low interest rate.

Vancouver Mortgage Team (VMT) helps you get the best suited mortgage for you

The most reliable service Vancouver Mortgage Team (VMT),  is present right at your door. This team of highly qualified professional is not only going to give you the best advice but will also come up with the type of mortgage that best suits your requirements. All types of mortgages that have been stated above are offered at Vancouver Mortgage Team (VMT). So whether it is fixed or adjustable, you just decide and VMT will help you implement it in the best way possible.

Buying a condo or a town house, with mortgage finance is always going to work in the long run. You can make the best use of your discretionary income by investing it in the most important purchase of your life and shop for your home. As a matter of fact no one loses money with real estate if he complies with the conditions and agreement.

Mortgage, the word dates back to ancient Babylonian times and is a composite of two words, ‘mort’ meaning ‘death’ and ‘gage’ meaning ‘pledge’. It was believed that a person who is into this debt is just as lifeless as someone dead, unless he gets himself out of the deed. Despite the fact that this debt instrument carries in itself the apprehension of getting drowned in the unending debt payments, it offers some benefits too. In no time you can enjoy ownership of the home you only dreamt of. Who doesn’t want to own a home after all? Who does not want to make the best of his life? Sometimes it takes ages to collect and save enough money and get a home for yourself. Mortgage is an option to make your dreams come true in no time but only after fulfilling the contract conditions.

Mortgage finance is just like a promise

Very precisely, mortgage is a long term debt instrument that is secured by the collateral of specified real estate property and that the borrower is obliged to pay back with a predetermined set of payments. Mortgages are used by individuals and businesses to make large purchases of real estate without paying the entire value of the purchase up front. It is just like a promise that is backed by collateral. The borrower keeps the promise of making the regular payments, finally dissolving it after making all the discounted payments and fulfilling the prerequisites. This results in the reduced balance on part of the lender thus securing him. If interest rate goes up, due to any prevalent market condition say deflation, you can earn with this mortgage by paying the same interest rate and can still keep on investing further into higher capital gains. So you must keep in view your prepay option.

Make sure you pay it off

Once taken a leap of faith and opting for a mortgage comes with potential risk as well as certain benefits at hand. Just before signing the agreement, always make sure that you are able to pay off the periodic payments since you are binding yourself in a long-term promise. Carefully consider the entire amortization schedule so that you don’t face such panics later that you have been charged more or high and expose yourself to detriments on your credit score.

Always plan before getting into mortgage finance

The borrower who does all the maths in advance is better off with his budget later. This drill will give you a general idea of how much you will always be allocating for the mortgage and finding out whether you can do it or not. Always avoid getting penalized since your credit score is your biggest asset in the financial world. Once it gets tarnished, you are sure to face more troubles heading on.

Then consider some financial terms, with which you might not be familiar till you get into the agreement. Sometimes the borrower does not consider market changes and is caught off guard. Be ready for such a situation. If the buyer cannot actually afford the home, adjustable-rate mortgages is feasible for him as it offers lower initial payments. Fixed rate mortgage ensures steady interest rate and is suitable for those who want to get out of debt as quickly as possible. The borrower must keep an eye on interest rates; in case it falls, consider refinancing. Refinancing is an excellent strategy if you want a reduced interest rate, shorter term of your loan or both.

Starting off with the few tangible and intangible benefits, mortgage finance does help you gain financial stability.  Here is how:

1.        You own your home for real

In fact the most important of all the benefits is the fact that you are the instant owner of the home. This pleasure is priceless. The peace of mind you enjoy after getting yourself liberated from constant shifting in rented homes is definitive. Although the complete ownership is transferred once you get over with the payment period but still you are granted the permission to enjoy the house as your own. This is possible unless there is some default in payment and then your house is for sure going to get confiscated. So it is advisable not to contradict the legality of the contract.

2.       Gives you a tax break

Secondly, mortgage interest provides you with a tax break. You can always make your mortgage or a portion of it tax deductible since Canadian tax code has certain guidelines to be followed. The borrower is allowed to deduct the annual interest paid on a mortgage from income.

Certain rules apply like:

• You have to fall in a certain tax bracket.
• You must have at least 30-70% equity in home.
• Make sure that you are able to face any kind of fluctuations in the marketplace as there is definitely some risk involved and you are selecting for a debt that is going to stay with you for at least 7-10 years. 

3. You can enjoy more reliable and secure return

Mortgage has the ultimate benefit that it is going to provide you with a return that is much more reliable than any other stock market instrument. No matter how many changes your income foresees, the home security is guaranteed.   

Despite the fact that banks are conservative in Canada, homes always go up! This is like the ultimate investment. Say you bought house for $250k and it’s worth $300k now, that’s great, you just earned by pulling out nothing from your pocket since houses are always going to appreciate. It is no new paradigm and even if for some unfathomable reason they have a drop in price, you can’t be just declared of bankruptcy and asked to walk away from home, CMHC will be bailed out by the government and you will be responsible for the bill. You can always make up for the payment without losing the ownership.

4.       Make it work for your retirement

It’s very simple, your dwelling generates no income and such home equity is of no use unless you borrow against it. Reinvest the money from your home equity and discover how that new income turns your golden years a little more golden. So simply shift your assets from your home by taking out a mortgage and invest the money in a diversified portfolio that should outperform the after-tax cost of the mortgage, thereby enhancing net worth.

5.      Real estate prices always appreciate

Ownership of a home is surely going to get you price appreciation. Price appreciation leads to better home equity which can be viewed as the difference between the market price of the house and the remaining mortgage payments. Take some equity out of your home and use it in a certain way that qualifies you to make you pay your mortgage quicker as well as builds a healthy retirement for you without putting any extra money out of your pocket.

6.       Cost and benefit analysis

 Home ownership is expensive and time consuming. But the estimated costs are always slightly higher than the benefits. You can check it yourself, just jot down your expenses and compare it with the amortized mortgage payments for 30 years.  

In a nutshell

So far what I feel is that the home price appreciation is the most important variable in a home ownership costs versus benefits analysis. One must always consider market fluctuations and trends in global economy.

Besides there is no other substitute for intangible paybacks like the peace of mind, security and pride one gets after ownership. All these factors contribute to home ownership decision.

Why are the services of a Mortgage Broker needed?

Not long ago, only if you go 30 years back, mortgage broker was used as a Plan B. People looking for mortgage and for some reason declined by a bank would then come to a broker and consult his services. But the times have changed and so has this perception.

Vancouver Mortgage Team (VMT) changing the trends

Vancouver Mortgage Team (VMT), the mortgage advisory company employing highly qualified team of professionals, is rendering valuable services to make the clients realize they do have access to other private investments and can be of greater assistance than banks, since they have access to 70+ lenders. The way they are working is totally customer oriented as they go to various lenders to get the most suitable rates for client. Lenders keep them updated with their products and best interest rates.  The company focuses on the comfort levels of both sides. After they take out an application, pull out once with clients’ credit bureau and then they set out to find the most appropriate lender according to clients’ requirements.

Every mortgage is unique with different qualities and specifications. Vancouver Mortgage Team provides the customer with what suits him the best after running a complete analysis. Even after the transaction is done, VMT continues to work with you. Hani Faraj, the mortgage advisor says that he is well aware of the fact that everyone wants a home, 100% owned by him and not a mortgage and he claims that as a broker he is always on client’s side to shave down the mortgage as much as possible. Offering the client with the tax deductible mortgage plan (TDMP), the client is assisted all the way to reach his mortgage freedom day as soon as possible.

Well, we are all familiar with the fact that the global economy is on a roller-coaster ride, from boom to recession, and this certainly invokes a bit of concern on the part of all the consumers as well as the investors around the world.

Home sweet home, the phrase is very well known indeed and there is also no doubt about the fact that when it comes to pledging it for real and signing the Mortgage Deed, people still get befuddled on a few clauses of the deal, employing the best mortgage finance team being the top most.

Overall Canadian Economy and Mortgage Finance 

Canadians are now showing a lot more confidence in the country’s real estate market. According to a recent survey, 71% of the Canadians have agreed that the real estate is going through the good times and that also includes those 19% who strongly agree on this fact. The real estate markets exhibited a significant rise recently, consequently bolstering the confidence of an average consumer. According to statistics released by The Canadian Real Estate Association (CREA), national resale housing activity picked up rapidly by 2.7% in September, 2011 and this was mainly due to the low mortgage rates which attracted buyers to the housing market, hence Canada emerged as the largest sub-prime lender in world’s economy.

Clearly, this seems like good news for the mortgage industry. Consumers are largely employing the services of Accredited Mortgage Professionals to get the Mortgage Finance. Based on the verity that the decision of getting a mortgage is founded on the interest rate, plus the promise of best service by the broker, the consumers tend to get the services of the most trustworthy and reliable professionals.

Among all the facts that are to be discussed here, let’s not forget the most essential point that Canada has outperformed its G7 peers in most of the areas despite the prevalent economic and financial crisis. It has proved itself to be the most industrious nation of all and it holds true for its mortgage finance industry as well. Though there were some sharp setbacks in the Canadian markets which made it lose some of its swagger during the year 2010, but now the economy is bracing most of the challenges positively and is getting right back on its track.

What does Mortgage Finance mean and what are the different types of this financial instrument?

Before proceeding any further, let me briefly explain what the term Mortgage Financing actually means. It usually refers to a loan that is backed by some security being used as underlying mortgage, mostly of a home. This acts as a guarantee for paying the loan back within the specified time period. It comprises of a down-payment, interest rate, loan size, maturity of the loan and the method of paying off the loan. Very often people find it easier to make home purchases through a mortgage loan, since they don’t have enough savings or liquid funds to enable them to purchase property outright, while sometimes they are simply looking for the long term cash flow asset, like real estate investments, since they are fed up with the unprecedented fluctuations in the money and capital markets. It can be granted by any bank or some other financial intermediary. The borrower always selects the most feasible payment method. There are many types of it like mortgage refinancing, mortgage renewals, home equity line of credit , investment/rental property financing, commercial property financing, interest only mortgage, variable/adjustable rate mortgages, fixed rate mortgages and capped or collared method. We offer all the above stated services at the Vancouver Mortgage Team, which caters to the needs of customers while excelling at it all at once.

Choose the right option and get the best deal for your Mortgage Finance

Before proceeding with the deal, it is always good to consider the pros and cons. So, whenever the consumer is trying to shop around for mortgage loan, he must consider the price comparison among the various mortgage lenders while keeping in view his own requirements. Make sure that you are able to keep up with the periodic payments, since no one likes his credit report to be inconsistent.  This will also help you bag the loan on lower interest rates. The borrower must check the scenarios of having a 30-year, 20-year or 15-year mortgage. A 30-year mortgage would ask for lower monthly payments, but higher down payment and a higher interest rate. Having a 20-year mortgage is good if one wants to pay off his house quickly but doesn’t want to commit to the large monthly payments of the 15-year mortgage. While 15-year mortgages typically have a lower interest rate, they also include higher monthly payments. Always find out the required down payment and the annual percentage rate (APR) yourself and then go for the best service provider that suits you. Mortgage calculators, found online, are helpful in estimating your monthly payment. Mortgage loans still help one to diversify risk, as the ultimate risk we all face is fluctuations in consumption. Our incomes and wealth may go up in boom and down in recession. Here you go, with just a brief rundown of Mortgage Finance with major focus on the Canadian markets.

Vancouver Mortgage Team is with you every step of the way! 

Now that you got all the required insight, its about time to find the best mortgage finance company in town. Vancouver is Canada’s most stunning Pacific facing gateway and it experiences ongoing real estate spikes, precipitated by a surge of capital flooding into residential markets, and the advisors at the Vancouver Mortgage Team (VMT) are well aware of this demand. Hani Faraj, the Mortgage Advisor claims, ‘With you every step of the way’, and he is not just saying it rather he makes sure to fulfill the promise with the mortgagee. After confirming the company’s key facts illustration, one is all set to get the chosen type of mortgage. Vancouver Mortgage Team has carved its niche in the global arena by coming up with the perfect solutions for all the mortgage needs. The company with its qualified and experienced mortgage staff assures efficiency through flexibility. With its varied products and services, the company offers a range of solutions which are tailored according to the requirements of the borrower. 

Hence with its service and implementation of successful strategies, Vancouver Mortgage Team (VMT) ensures secure financial future to the borrower, leading towards the brighter prospects when it comes to mortgaging his property.

Buying a new home is not an easy process to go through, especially when selecting the best mortgage broker to use. This is one of the most important steps in the process, as finding the best mortgage broker can get you the best rates and most suitable mortgage for your situation. In this blog post, I will try to explain how you can make sure you find the best mortgage broker available for your needs.

Ask Friends and Colleagues

  First, ask friends and colleagues for recommendations. However, it is wise not to rely completely on recommendations from friends, as they may not have found the best mortgage broker themselves.

Ask Financial Advisors and Realtors

Asking trusted financial advisors and realtors can also be a good way to find the best mortgage broker. Financial advisors and realtors are usually familiar with the local mortgage advisors, and will often have a good idea of the mortgage advisor's reputation. If you are unable to get a personal recommendation for an advisor you feel comfortable with, check with one of the national certification organizations such as the Canadian Association of Accredited Mortgage Professionals, also known as CAAMP. They have lists of member brokers throughout the nation.

Do Your Own Due Diligence

Ask for your potential broker's credentials and experience in the field. There are many certifications available to brokers, many of which will demonstrate specialized knowledge. In addition, especially if it is your first time buying a home, you want to make sure your broker is experienced and knowledgeable. Be sure that you do your research and due diligence beforehand as well. Remember, most mortgages last for fifteen to thirty years, so this is a decision that will be a part of your life for a long time to come. Not all mortgage brokers are equally knowledgeable about personal finance, so you will need to make sure you understand any potential consequences of a possible loan.

Interact with Shortlisted Mortgage Brokers

Once you have narrowed down the field to a few potential mortgage brokers, talk to them and make sure you get along with them. You will have to put a large amount of trust in your broker, and it is important that you get along with them. In addition, you should make sure they listen to your needs and keep you informed during every step of the process. Mortgages can be complicated and a small change can have big impacts later on, so be sure you know what is going on. Since selecting a mortgage is one of the biggest financial decisions a person can make, it is critical that you choose the best mortgage broker. With a little bit of research and some careful questions, you can be sure you put your financial future in the right hands. Visit www.VancouverMortgageTeam.com to get the best mortgage advice.    

As the year winds down, and the real estate business slows down.  We find ourselves in certain market trends.  I know it happens in every industry, and the mortgage industry is no different than any other.  The mortgage broker network has grown from 0 % market share to as high as 50% market share in markets like British Columbia.  Why is this?  Simply, the customer’s are getting smarter.  Typically, the old school thinking was you went to a mortgage broker as a PLAN B, or because your bank or credit union wouldn’t approve you for a mortgage.  That’s certainly not the case any more.

Although, the mortgage broker network is growing and fighting hard for market share, the big 5 banks are not simply bowing it out.  They are fighting hard and essentially putting their shareholders at risk.  An executive from one of the largest banks said recently at a gathering in Washington, “We’ve never been this aggressive.”  Some banks are telling their customers to shop around and then come back to them when they get the best deal and they’ll match or beat it.  What happened to integrity and service?

True Story:  One of my clients went to a large bank and asked his banker what the best 5 year rate was.  His banker told him 4%.  The client was a friend, and luckily I got him approved.  He didn’t go through me because of the rate, but because there was a relationship that was in place from some time ago.  This client has a large sum of money sitting in his account.  The bank keeps calling and asking  what he’s going to do with his money, and is he buying real estate.  He eventually told them, he’s bought and just waiting for the closing date.  This bank is giving everything to this client to earn this business, and he refuses to take the bait based on one principal that is “Why are the big banks treating customers like they’re shopping for a used car?”.

I love big banks, and I think they do a  good job of keeping their customers, but I do think they are starting to act desperately.  They are hiring 1000′s of “Mobile” mortgage broker, which essentially promote bank products and disguise themselves as mortgage brokers trying to appeal to the crowd that wants to deal with mortgage brokers.

When I was a broker in Ontario, I had come across a client that had lost their job and was out of work for 6 months.  The couple struggled, but not without battle wounds, damaged credit.  When we met, they wanted to consolidate their debt now that they had found a new job.  They went to their bank, and the bank past.  I had to send this deal to a B lender.  Sure enough, the couple kept paying their payments, and eventually got out of the mess they were in.  Eventually, I was able to put them into a new A non major bank lender.  Their first bank was begging them to go back offering them great rates, and free perks.  I’m going to admit, the offer was so good the client almost signed with the other bank.  I stepped in and said “I have worked with you for 2 years to get you to this point, and now that your credit is better, they want to have you back as a client.  I just ask that you consider the time, and effort that I’ve invested in this relationship versus what this Bank has done.

Besides the best rate, there are other strategies to paying off your mortgage faster and increasing your wealth.  The rewards lie with how comfortable you are with the  risk involved.  If you think about it, the way the market has been going in these last few years, real estate tends to be one of the most solid investments in Canada.  In certain markets like Vancouver, Toronto, Ottawa, and Montreal.  There has been high and low points, but the demand is steady.  I always say, as long as people need some where to live, the market has to keep moving.  Therefore, people will always buy and sell real estate.  Even in the United States, the market is seeing gains in the number of sales in certain states.

Here’s a fact readers;  If you are shopping for rate, I can promise you this, your bank can beat any rate I can offer you.  But if you want unbiased advise, please deal with a broker.  It doesn’t have to be me, but give a broker a chance at your business without worrying about 10 or 20 basis points.  At the end of the day, it’s the relationships that count.

Please comment and share.

Hani Faraj
www.VancouverMortgageTeam.com