Mortgage rates below 4.0% again

"Small mortgage lenders are very aggressive these days in competing for business. They led the way to a wave of rate changes sending the popular 5-year closed term back below 4.0%. While the big banks are still sitting at rates above 4.0%, by taking advantage of some promotions and working with a mortgage broker, one can lock into 3.79% for 5-year right now."

"This week Vancouver hosted the annual conference of CAAMP (Canadian Association of Accredited Mortgage Professionals), a forum where lenders and mortgage brokers discuss a wide range of topics. At the conference a few economists representing major banks made their case that "rates are so low that they have nowhere to go but up". But when? This is debatable. And how far up? It is difficult to say, but some mentioned an increase as high as 3.0% over the current rates."

"While my personal experience is that economists have never been able to predict anything accurately, it makes sense to accept the notion that somewhere down the road mortgages will be more expensive."

"With that in mind, the time is right to take advantage of these low rates either by refinancing an existing mortgage to a lower rate, or by purchasing a rental property."

"Interested? We are happy to this quickly and with the minimum amount of stress."

Vasko DeLev, AMP
Verico Capital Mortgages Inc.
106 - 18 Deakin St, Ottawa, ON K2E 8B7
Direct Line: 613-882-7603
Fax: 613-228-2555
Email: vasko@CapitalMortgages.com