Fiscal Climate Updates

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Whether it pertains to buying and selling of properties, mortgage specialists remain the best individuals to consult for guidance.

The home buying binge of millennials just starting their careers is especially high in the cities of Vancouver and Toronto.

This is because of the low interest rates offered by various lenders in order to entice this particular demographic-millennials. This perk is hard to say no to because the market rates are low and the markets are very hot right now.

The fixed mortgage rate of the Meridian Credit Union of 1.69%, for one year, looks good at first glance but, upon closer inspection, any home buyer that fell for this will be trapped in a fixed rate of 2.59% over five years right after the first full year has ended.

So the obvious thing to evaluate is your available funds. Will you be able to pay more money over a long period of time?

This is when a mortgage specialist is most needed.

Ideal mortgage and risk appetite are directly proportional to each other.


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