Attached is as current an interest rate update as I can provide today. Rates and policies both are very fluid!
The best 5 year rate is now around 4.34% meaning someone can pay just $434 for a $100,000 mortgage over 35 years. Let's look at it another way.
Assume you know someone who is paying $1200 a month for rent right now. If we assume $2000 a year for property taxes and $55 a month for heat estimate for qualifying purposes only, that $1200 a month could be carrying a mortgage in the amount of $226,000.
If your job is secure - if you live and work in a stable community - this is a very affordable time to be obtaining debt.
It could also be a very attractive time to consider refinancing or renewing early - we are developing a simple five minute mortgage check-up to answer the question - is it the right move for me now?
This information was provided by but is not meant as advertisement for:
Jim Cook
Mortgage Agent
Mortgage Intelligence
519-396-6800 - Kincardine
519-389-6900 - Port Elgin
Port Elgin AND Southampton real estate information including homes for sale. The opinions posted on this blog are that of the writers, Jason Steele who is a registered Real Estate Broker in Ontario, Canada. *Readers are cautioned to check the validity of each topic. FOUR SEASONS REALTY BROKERAGE IS LOCATED IN COLLINGWOOD ONTARIO. http://www.greybrucearea.com
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