
Regarding term, take a term today based on your expectation of available rates at renewal time. This is called your "renewal risk." For example, at the time of writing...
Posted by Chris Richards on Aug 17, 2014 12:16:00 PM
Posted by Chris Richards on Feb 24, 2014 11:12:00 AM
I ran across an article in a Canadian Mortgage Trends blog about an ongoing problem the Canadian mortgage industry has regarding calculating fair mortgage-break penalties, which apply when you need to break your "closed" mortgage contract before the term expires. The main issue is that the playing field is not always level, often tilted when certain banks distort the calculations in their favour!
About this blog
Our Richards Mortgage Group blog is a wealth of information for anyone looking to apply for a mortgage to purchase or refinance a property. Browse through the articles and find the topics that are most useful to you in your home mortgage information search. Find out if You Can Get a Mortgage here.
Richards Mortgage Group
73 Riverview Circle
Cochrane, AB T4C1K3
T: 587.774.6290
TF: 1.888.540.1715
Fax: 587.315.6117
Contact Us