Danny Bell
Mortgage Broker - M13001996
Tel: 905-426-4200 | Cell: 289-200-9061 | Fax: 905-426-4201
Danny Bell
Mortgage Broker - M13001996
Tel: 905-426-4200 | Cell: 289-200-9061 | Fax: 905-426-4201
It is important to understand that Fixed rate and Variable rate mortgages are based on different "money markets".
When the news/media says the Bank of Canada is raising rates, that change will directly impact Variable rate mortgages and Lines of Credit. This is a result in change to a lenders' Prime Rate (which does not impact Fixed rates).
Fixed rates are based on the Bond Yield, which can fluctuate at different times than the Prime Rate.
Think of Diesel vs. Petrol. They both fuel a car but they’re different fuels.
In summary, don't let the news/media be your only source for mortgage education.
Whether you are first-time buyer or an experienced buyer with excellent credit, The Mortgage Centre has access to the very best products and rates available across Canada. Give us a call… we think you’ll be pleasantly surprised!
Learn MoreThrough training and certification, we have a good understanding of available products, features, and rates. We are here to keep your mortgage moving forward with our Mortgage Market technology, we have electronic access to various major lenders in Canada, so you’re not tied to one lender or one type of mortgage.
Learn MoreWe understand that mortgages can be confusing and intimidating. To help demystify the process, The Mortgage Centre provides a glossary and a variety of free calculators to assist you in researching, and planning your mortgage.
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