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