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26 Mar



Posted by: Tracy Luciani Price


The early spring housing market is heating up with the lowest rates in history, right now!

Let’s take a quick look historically at where rates have come from. 5 year fixed was 22% in 1982, 14% in 1991, 9.9% in 1994, 7.5% in 1995. By 2010 it was down to 5%. Today it hit an all-time low of 2.89%. But don’t be fooled. To get 2.89% you have to close within 30 days AND you have no prepayment privileges meaning that if you need to sell within the term, it could cost you a fortune (or worse, you cannot sell at all). A 3.04% rate on the other hand will give you much more flexibility, all for the sake of a few bucks a month.

Folks, ‘fixation’ on rate only, ignoring other equally important (cost) factors is not only dangerous, it’s foolish. When you deal with us, we take the time to help you understand all the important components of a mortgage, we dig deep to discuss your future needs and ensure that the mortgage ‘product’ we put you in, is absolutely best for you.

We also discuss ‘Strategy’. Should you consider a 7 or 10 year terms currently at 3.59% & 3.69% respectively? The 5 year rate was at this level just a short time ago, and since rates will rise in due course, and could be a lot higher in 5 years’ time, deciding to go long term could well be the most prudent financial decision you ever make. Getting a mortgage today is more complex and confusing than ever before, and choosing the right term and mortgage product has never been more important.

Understand that ‘Strategy’ is more than just choosing the best mortgage rate/terms for you, it’s also about putting a formal plan (with goals) in place to pay down/off your mortgage much faster, saving you tens of thousands of dollars.

Our new SMARTEQUITY cash management/debt elimination is your answer. Call us today to learn how you can pay off debt much faster without even changing your mortgage. If you need a new mortgage, even better. Become completely debt free too, in a fraction of the time. No bank nor any other mortgage source in this region can offer you this amazing solution. You can also retire sooner than you think, or plan to have an investment/retirement income that is otherwise not possible. Call today to make an appointment to change your life forever.

Our info session for private lending is being held on Thursday April 4th at 7 pm at our office. Please call and register to attend.