I’m sure you may be losing sleep if your mortgage renewal is set to happen in the next few months. The media continues to report that rates are increasing constantly, but fear not, there are options and it’s not as bad as it seems.
My recommendation is to call a Mortgage Agent sooner rather than later – we have many tools in our toolbox to help keep your payments at a manageable level. Sadly, over 50% of Canadians sign the bank renewal letter they receive in the mail without second thought. They assume the bank/ lender is looking out for their best interest – however, this isn’t always the case.
When you work with a Mortgage Agent, you receive the expertise of a trained banking professional who is working for you and not the bank; at no cost to you! As our economy continues to shift there are a variety of terms that can benefit you aside from a 5-year fixed term. There are LOTS of options available to you and I would be happy to work with you to see what can be done to keep your payments at a manageable level.
Think of this time as the prime opportunity to reimagine your mortgage format, instead of a stressful and cumbersome dilemma.