Slap in the face

This is a really exciting week because two of the largest mortgage conferences are happening right here in Vancouver. The Mortgage Brokers Association of BC is camping out for the first 2 days of the week at the Fairmont Hotel downtown and then, Dominion Lending Centres Broker University moves in. It is a great week of education and meeting with colleagues in the industry. Rates have not been as hot of a topic in the press lately however, this is a very observant article about lenders' appetites for mortgages right now. They are far more willing to offer lower rates on insured mortgages, especially if they are quick close mortgages. It is a real slap to people who have diligently paid their mortgages down to now be offered a higher rate than those with smaller down payments. CMHC insurance protects the lenders against client default and therefore, they lenders are willing to jump on mortgages that are insured. If you have questions about what the best options are for you, call me. My services are complimentary and it never hurts to ask.