Canadian Mortgage Interest Rates Are At An All-Time Low

Hey everyone! I hope that title grabbed your attention, and if not, let me start this post off by saying it one more time: Canadian mortgage interest rates are at an all time low.

The reason I say that – and the reason I’m writing this – is because I know a lot of people are getting a little worried about the economy in Canada. And that’s understandable, especially here in Northern BC where a lot of us rely on the success of the oilfields. I wrote about this back in November, too, and the big takeaway from that post was that we can expect the situation to improve. Things were always going to get slightly worse before they got better, and now that things are slightly worse, here’s where we’re at when it comes to mortgages in Canada. Are you ready? This is gonna sound familiar:

Canadian mortgage interest rates are at an all time low.

That’s right! It’s the third time I’ve said that for a reason, and that reason is this: if you’re anxious about the state of your mortgage right now, don’t be. Do you work in the oilfield, and are you worried about pay cuts, or being forced to take a lower-paying job? Do you have more than 20% equity in your home and have a credit score above 600? Are you paying higher interest rates on your current mortgage and loans?

If any of that sounds like it fits your current situation, I urge you to call me as soon as possible. We can discuss all of your options, and if you’re at all worried about your hours or your salary, it’s better to do that sooner rather than later. You could be eligible to consolidate your current mortgage and other debts into one payment, which could save you thousands of dollars in interest charges. If there’s no debt and you have a current mortgage rate over 3%, we should also discuss refinancing your mortgage to save you money in the long run.

The Canadian economy is showing glimpses of recovery right now, and as far as your mortgage goes the landscape couldn’t be any better (and I would know; I’ve been in this business for a lot of years). I promise you I can put some of your worries to rest, and all it will cost you is the price of a phone call (or the trip down to my new office in downtown Dawson Creek)! My number is (250) 782-9665, and my phone is always on – even when my office is closed. You have nothing to lose by giving me a call, and peace of mind to gain (at the very least)! As a proud Canadian I want the economy to improve just as soon as possible – but until it does, I want to do as much as I can to help my fellow Canadians get through the downturn.

If you’re looking for some of that help, or if you know someone who is, I hope to hear from you soon. Remember – Canadian mortgage interest rates are at an all time low. And I have plenty more good news for you where that came from.

Have a great week everyone!

Lori Lalonde, Your Northern BC Mortgage Broker


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