403-681-4376
8AM - 5PM Mon - Fri
103E – 1144 29th Ave NE
Mark Herman – Calgary Mortgage Broker

Refinance your mortgage to reduce debts now with low rates

May 4, 2011 Uncategorized

Most everyone in the mortgage industry knows rates are on their way back up for good – but when? Bay Street says there is a 100% chance that the Bank of Canada will raise rates in June.

Now is the perfect time to refinance and take advantage of the tail end of the low rates before they head back to their long term average of 6.5% for the 5 year fixed.

Why not a variable? Rates are going back up for sure. Locking in now will get you the lowest 5 year fixed possible.

Locking in at at a big 5 bank – they lock you in at Posted or Posted -1%. Posted today is 5.66% today. If the bank “loves” you and gives you Posted -1% you lock in at 4.66%. If you were with a broker bank you lock in at their best rate – for today is 4.25% to 3.99%. Big difference!

Debt Consolidation:

In the wake of lessons learned from the recession, there has largely been a shift in Canadian attitudes towards debt. Many studies and polls currently show that paying down debt is a top priority for many Canadians- in fact a survey BMO released earlier this year, indicated that 26% of Canadians were pulling funds prematurely from their RRSP’s to pay down debt. In another poll, they found that 32% of Canadians were intending to use tax refunds to pay down costly consumer credit.

Using available equity in your home to both maximize on interest savings and strategically attack debt is responsible borrowing at its’ best.

Call now for a chat about how to consolidate your debts. Mark Herman @ 403-681-4376.

5 Comments

  1. private krankenversicherung kosten im alter on

    This blog was… how do I say it? Relevant!! Finally
    I’ve found something that helped me. Kudos!

  2. sofortkredit on

    Have you ever considered writing an ebook or guest authoring on other websites?
    I have a blog based upon on the same information you discuss and would love to have you share some stories/information.
    I know my visitors would value your work. If you’re even remotely interested, feel free to shoot me an e mail.

  3. Veronica on

    giving thanks you for your help!

  4. Aubrey on

    You have some really great posts Many thanks!

  5. Mccammack on

    thanks for the info

Comments are closed.