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Mortgage Matters


Blog by | March 31st, 2009


Are you waiting too long before securing your mortgage rate? According to a new study done by ING, the answer is YES!

Did you know...

 

  • 40% of Canadian mortgagors surveyed said they secured their mortgage rate just 30 days or less before closing.
  • 27% waited until 31-60 days before closing.
  • Those who instead locked-in 120 days in advance saved 0.18%--or $1,800 over five years--on average. (Assuming a $200,000 mortgage and 25-year amortization)

 

Having a pre-approval done right away, even before you start looking for a new home, is one of the easiest ways to save money on interest payments, yet few people take advantage of this.

If you're considering a purchase, call for your pre-approval today!

 

Here for all your mortgage finance needs...

 

Stephanie Ostash

The Mortgage Centre

250.801.6467

ostash.s@mortgagecentre.com