Hey everybody! We’re a little past the midway point of January 2015, so as promised I’m going to give you all an update on the Canadian Housing and Mortgage Market. I know oil prices have been a little low lately, and that may make some of you a bit uneasy, but here’s the good news – as far as your mortgage is concerned, that’s nothing to worry about. Here’s why:
The Canadian bond yield hit an all time low last week, ending the day at just 1.01% (according to Robert McLister at www.CanadianMortgageTrends.ca). Historically, bond yields have been a good indicator of mortgage rates, and there’s no reason the market shouldn’t adjust to reflect that. Unfortunately, because the banks control a whopping 75% of the mortgage market, they have the power to artificially inflate rates to protect their earnings. According to McLister, the “fair value” for a mortgage in today’s market would be about 2.50% – compare that to the flat 3.00% we’ve seen provided by the big lenders over the past five years or so. He predicts that eventually rates will start falling to match this fair value, but until then, Canadians are at the mercy of the Big 6 lenders. In the best case scenario, one of them will “break rank and start pricing assertively,” but until then, it’s up to buyers to be proactive in asserting their own fair values.
And good news! That’s what I can do for you – I have over 40 lenders all bidding for YOUR money, and they’ll keep going until they give me (and you) the fairest price they can offer. The rate for mortgages in this country is at a historic low, but it’s up to home buyers to make sure they take advantage of that. Do yourself a favour, and find a mortgage broker who knows how to make that happen. My number is (250)-782-9665, and my phone is on 7 days a week.
I can get you not just the mortgage you want, but the mortgage you deserve. Give me a call today!
Lori Lalonde, Your Northern BC Mortgage Broker
As a part of Canada’s leading mortgage broker network Verico Paragon Pacific Mortgages Inc. can provide you with the tools and assistance you need to succeed in your career and by joining our team, you will enjoy the following industry benefits: (more…)
I’m so excited that my new post cards have arrived early! Delivery will begin in Dawson Creek and Fort St John, January 15th, 2015.
I’m hearing from so many people that renew their mortgage at their bank only to find out that the rate is 1-2% higher than what I offer. That is a lot of money in the banks pocket and not yours! My card outlines what I do as a mortgage broker. I’m here to save you money and make your home purchase or refinance a smooth process.
Call me today if you want to start saving money! By the way…5 year fixed rate 2.89!
Lori Lalonde, Your Northern BC Mortgage Broker 250-782-9665 firstname.lastname@example.org dawsoncreekmortgage.ca
Here’s our Dawson Creek and Fort St John mortgage rates for Dec 12, 2014:
The lowest 5 year fixed rate mortgage is 2.89%. Please contact us for more info on this low rate offer.
The lowest 5 year fixed rate mortgage is 2.20%. Please contact us for more info on this low rate offer.
For quotes on 1-4 year terms and Variable rate mortgages get in touch with Lori Lalonde for a mortgage rate quote by calling (250) 782-9665 or using the form below.