Shopping for the best mortgage rate can lead to significant savings. Use online tools to compare rates by entering your location, home price, and down payment. Consider factors beyond just the rate, such as payment flexibility and potential fees. In Canada, fixed-rate mortgages are tied to government bond prices, while variable rates fluctuate with the prime rate. A high credit score is essential for securing favorable rates. Working with a mortgage broker can help you find competitive rates by negotiating with multiple lenders. Always compare offers from various sources.
Continue to full article
Leave a Reply