Should you consider locking into a fixed-rate mortgage???

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This can be one of the biggest decisions homeowners face. Is it going to cost me or save me money… See full story on this topic »

TD Canada Trust raises mortgage rates

The bank said that effective Feb. 8, the interest rate on its five-year closed fixed rate mortgage would increases 25 basis points to 5.44%

Read more: http://www.nationalpost.com/news/canada/Canada+Trust+raises+mortgage+rates/4237864/story.html#ixzz1DOHbecu8

TD Canada Trust raises mortgage rates

With low interest rates, is it time to reconsider your mortgage?

Vancouver Sun- With mortgage rates low and more likely to go up than down, some borrowers may want to think long and hard about whether they want a long and hard — fixed, that is — mortgage rate.

The first question is whether to go fixed or variable when borrowing to buy a home. Statistics show that 88 per cent of the time, a variable mortgage is cheaper than a fixed-rate mortgage, said Feisal Panjwani, senior mortgage consultant with Invis-Feisal & Associates Mortgage Consulting in Cloverdale. But the problem with a variable rate is that it is just that: It changes over the life of the mortgage…

With low interest rates, is it time to reconsider your mortgage?

Interest rates: Signs of anxiety

Globe and Mail- Banks are driving up mortgage rates much faster than anticipated, sparking a massive outbreak of confusion among consumers.

It’s an outbreak that has a high degree of contagion – advice from well-meaning friends, relatives or colleagues often seems to make the symptoms worse.

Part of the problem, experts say, is that every borrower’s situation must be evaluated individually.

For instance, it makes sense for a chef with little retirement savings to lock in the cheapest rate going. But that could be a bad move for a Bay Street financier who might want to pay down a chunk of her mortgage when she gets her bonus next year.

One of the cheapest long-term fixed mortgage rates right now is Bank of Montreal’s discounted five-year fixed-rate mortgage. But it comes with strings. Customers who sign on must agree to a term of 25 years or less, and their prepayment options are limited. The only way to break the mortgage is to sell the house…

Interest rates: Signs of anxiety – The Globe and Mail

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