There has been a lot of talk recently of changes of mortgage regulations by the Federal Government. These changes could include shortening the amortization period of mortgages from 35 years to 30 years and potentially increasing the minimum down payment from 5% to 10%. We should have a better idea within the first quarter if any of the changes come into effect. In the interim, if you anyone you know is considering purchasing a home or refinancing your existing mortgages, no is the best time to do this before any proposed changes come to fruition.
Interest rates hold steady at all time historic lows for both fixed and variable rate mortgages. Call me to discuss the best mortgage option for your financial goals.
As an independent mortgage professional, our team shops over 400 mortgage products across the county to ensure you get the best mortgage at the lowest rate.