• phone: 6047658873
  • fax: 888.253.4963
  • mobile: 6047658873
"I work for YOU, not the lender"

Blog by Linda M Linfoot

<< back to article list

Why Rates are Rising

Why Rates are Raising

https://www.canadianmortgagetrends.com/2020/03/mortgage-rates-rising/

Advice for Mortgage Shoppers -

For those in the market for a new mortgage, and who are leaning towards a variable rate, experts recommend obtaining a rate hold as soon as possible.

“I would say act sooner rather than later. Basically, this is not a time to think,” said Stillman. “Lock it in now and if something changes your mind, you can change your mind. But there’s a good chance it’s not going to be available (in a matter of days).”

McLister advises the same, whether you’re shopping for a fixed rate or a variable. “Fixed rates aren’t rising like variable rates, not yet,” he noted. “But there’s a risk they could. Get a rate guarantee soon if you need a fixed mortgage in the next four months.”