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Shopping Your Mortgage Renewal 10 February 2012
With Canadian interest rates at historical lows, re-shopping your mortgage at renewal time could save you thousands. Sadly, too many Canadians simply sign their banks mortgage renewal offer without ever questioning the rate. Mortgage products, interest rates and terms of mortgages can change drastically over a few years. An independent mortgage broker takes your mortgage and shops it to different banks and trust companies across the country and negotiates your lowest mortgage rate on your behalf. Best of all, using a mortgage broker is free in the majority of cases. They get paid by the lender they place the mortgage with. Plus, independent mortgage brokers get paid on the size of the mortgage not the rate so getting you the lowest mortgage rate is their top priority.The best time to start shopping your mortgage renewal is 120 days prior to it coming due.That way you are protected if interest rates go up.
So before you just sign your banks mortgage renewal offer, call an independent mortgage broker to ensure you are getting the best mortgage product at the very lowest rate.
Our team of mortgage professionals can help. Call today at 604 649-5991 or 1-800-687-9020 Hold Your Best Rate Now
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