Thursday, July 29, 2010
Canadian Long Term Mortgage Rates
There was an intersting article this week in the Vancouver Sun regarding clients looking at taking 5 year and 10 year fixed mortgage rates. The fixed rate mortgages are the most profitable products for the banks. clients need to get graph showing the direct comparison of a variable rate to fixed rate showing the numbers. Most time you will be saving money on a variable rate mortgage. The 5 year fixed product is for clients that are really nervous and need the security. They do need to know what they are going to be paying in interest cost for that security, potentially.