Happy New Year to you all!!! After a wonderful holiday season and a brief skip down to Mexico to recover from the festivities, it is back to the office. I'm so excited about 2012! Interest rates are going to be staying low and consumer confidence is getting back on track. The Bank of Canada met and there is no surprise that they kept Prime rate steady. The article below talks about the improving Canadian economy and the direction of the Central Bank.
Speaking of low interest rates, I am sure you have all seen the ads in the paper for the 2.99% 5 year mortgages. When looking at these products, please make sure to educate yourself. These mortgages are "no frills" restricted mortgages. What that means is that these mortgage products have limited pre-payment privileges and no option for early refinance. They are all written at 25 year amortizations. Signing for one of these products means you can only make limited extra payment and, most significantly, you cannot get out of the mortgage unless you sell your home!
The interest rate on a mortgage is only a fraction of what is important. Ensuring that your mortgage can work with your needs, regardless of what the future holds, is imperative. If you have questions about what you are seeing or reading in the news, please never hesitate to ask me. I am here as a source of information and my services are complimentary and without obligation. Make sure you get the best mortgage for YOU!
All the best!
Jamie Moi, AMP
Dominion Lending Centres - West Coast Mortgages
Your mortgage consultant for life
604-534-6504
jamiemoi@jamiemoi.com
And don't forget to Like my Facebook page at
www.facebook.com/JamieMoiMortgageTeam.
No comments:
Post a Comment