There is plenty of speculation we will see a raise in the prime rate Jan. 17 – which means variable rate mortgage holders will have an increase to their rate and payment. While we can’t be certain, the numbers at this time appear to support it. We are sending this to you in advance of any increase as our continued commitment to give you the power to make decisions proactively for you and those you care most about.
While personally we are sticking with the variable rate, (a variable rate is still lower than a fixed rate option when you consider most people will see a 1% increase once they lock in) that decision may not be for everyone.
Here is the link to the article from DLC’s chief economist:
Robust Canadian Jobs Report for December Tops Off a Blockbuster Year
If you feel you no longer want to stick with a variable rate contact, we can assist with your decision moving forward.
Please keep in mind fixed interest rates are on the rise as well. With 47 percent of Canadians having a renewal this year, contact us today if you or someone you care about has a renewal in the coming year. We can help secure your options today or see if there is anything that can be done to get you in a better position to maximize your opportunities. Here is my most recent segment on Global Morning News Updating Canadians on the mortgage market:
Open House 2018 Mortgage Outlook
The best mortgage plan is one that is developed by assessing your goals and life stage. The Angela Calla Mortgage Team will help you personally call us at 604-802-3983 or email firstname.lastname@example.org
To contact Angela Calla directly call 604-802-3983 or visit www.angelacalla.ca