Rates could be changing again

It looks like some of the Lenders have increased their VARIABLE Products to Prime + .80% from their previous Prime + .60% earlier this week. Variable products were KING at the beginning of the year. It was well worth getting into a VARIABLE than a CLOSED FIXED Mortgage. Lenders have done studies that show being in a VARIABLE product over a 10-year period is far better than a closed fixed product. Unfortunately, I would wait to place any of my clients into the product until they came back to PRIME or less. We may have to wait until Spring for this to happen. We will keep  our eyes and ears open for any hint of them changing to the better.

For more information on Mortgage Products and understanding VARIABLE mortgages, call me  Doug Atkinson  Centum Pacific Mortgages Inc, 1385 Homer Street, Vancouver, BC, CANADA  Direct 604-219-9977  Office 604-609-0333  doug_atkinson@centum.ca

Welcome Jeff Trounsell to Centum Pacific Mortgages

We would like to welcome Jeff Trounsell, formerly of CIBC Mortgages Toronto to our Team here at Centum Pacific Mortgages, here in Vancouver. Jeff has over 10 years experience in Finance. You can Contact Jeff Directly at 778-960-1123  Centum Pacific Mortgages, 1385 Homer Street, Vancouver, BC, CANADA  604-603-0999  or jeff_trounsell@centum.ca

Bank Rate drops .50%

The Canada Prime Rate drops .75%, however the Lenders have only dropped .50%. We are still looking at Variable products at .60 to 1.00% about Bank Prime.  On Friday, Dec 12, we noticed many of the Lenders dropping their Closed fixed rates to under 5%. Some as low as 4.95% for a 5 year term. Plus, the Lenders are looking at dropping even further if you can complete a sale within 30 days, offering a futher deep discount to 4.79% for a five-year term.

For more information on rates and what you can qualify for, please call Centum Pacific Mortgages at 1385 Homer Street, Vancouver, BC, CANADA. Ph 604.603.0999 ro email me at doug_atkinson@centum.ca

Rates are dropping

Friday, November 28, 2008, we strated to see the banks dropping their rates. We now rates as low as 5.10% for a five year term. Plus the Variable product may start to look desirable again as the rates drop on that side. The Lenders have dropped the Prime + 1% to Prime + .60%. Personally I am thinking will be back to some good variable products in the new year. In the meantime if you want to try a 1 year rate, they are as low as 5.35%

Doug Atkinson, Centum Pacific Mortgages Inc, 1385 Homer Street, Vancouver , BC, CANADA
centumpacificmortgages.ca
Phone: 604-609-0333
email info@centumpacificmortgages.ca