What are you rates?

Mortgage rates vary for many different reasons.  Quite often that is the first question people will ask us, and that is ok, however because there are so many different mortgage products available, we can’t provide a quote until we better understand your situation and what you are looking for.

One of the main reasons why mortgage rates change is due to changes in the economy, the stock markets and the Bank of Canada interest rates.  Each Bank and Financial Lender lends money from different sources.  So each bank can be affected differently. Each lender also has different policies with regards to how they react to changes in the economy and the market place.  This is why talking to us can help, as we take the time each day to keep up to date with changes in the industry so we know where to go to get the best rates available.

Once we know what you are looking for, whether it is to refinance your mortgage, buy a home or use some home equity, AND once we know your current situation with regards to employment and credit, then we can start to provide quotes.

Apart from market changes, rates also change depending on the product, and how well you meet the banks lending guidelines.  For example, a first mortgage may get the best rate, but a second mortgage product may have a higher rate, because it’s a second mortgage. The bank prices it higher, because it’s a more specialized product.

Rates can also change depending on your credit score.  (see link to Credit History for more information). Some lenders will give a better rate for a higher score and vice versa.

Because rates can change for so many different reasons, this is why it’s important we discuss your situation over the phone, or in person, so we can give you the best information possible, and help you get the best rate.

Please call us at 403.284.4000 to discuss rates in more detail.

   

Contact Us

600-602 12th Avenue SW
Calgary, AB
T2R 1J3 

Toll Free 877.284.4009
P 403.284.4000
F 403.284.4010

This e-mail address is being protected from spam bots, you need JavaScript enabled to view it