Thursday, October 16, 2008

How the Banks Change?

Well we are in the beginning of a financial storm. We have seen some wild ups and downs in the stock market. This has lead to the Canadian banks changing there polices and mortgage options on almost a daily basis. The biggest change has been on the variable mortgages which used to be based on prime or a prime- system. they are now all on a prime plus rate which is not in the best for the consumer. We are also seeing the rates on fixed rate mortgages about half a percent higher then they should be. If you are currently on a variable rate mortgage, stick with it. For all our new clients, we will be working harder then ever to make sure the right product is available for you.

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