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Low Mortgage Interest Rates Increasing
Refinance Mortgage Home Loan - While some mortgage rates have been increasing in recent weeks they are the lowest we have seen in a generation. Homeowners and first-time buyers getting a mortgage in the months ahead will likely enjoy a rate that will keep their borrowing costs low for the next few years.
Indeed, borrowers who have renewed or refinanced a mortgage in the past year now pay mortgage interest rates that are nearly one point lower than their previous rate, according to an April report by the Canadian Association of Accredited Mortgage Professionals (CAAMP).
But while securing an attractive interest rate may be the top priority for most borrowers, some low-rate mortgages available today offer limited flexibility. For example, “no frills” mortgages offer favourable rates, but may limit your ability to pay off your mortgage sooner. In addition, “quick close” financing deals offer attractive rate discounts, but many require a closing date within 30 days. This may not provide enough flexibility for sellers or buyers.
Hipotecas Prestamos Junio 22, 2009 03:03 PM | Proceso de Prestamos | La Compra de Una Casa | Comprar Casas Embargadas