Today's Best Rates

Some conditions may apply. Rates may vary from Province to Province. Rates subject to change without notice. *O.A.C. E.& O.E.

Mortgage Rates From Mortgage West – The Mortgage Centre

Finding the mortgage rate that works for you is the best way to ensure that you stay financially on-track. With mortgage advice and support from the professional team at Mortgage West – The Mortgage Centre, you can make sure that you receive the lowest rates possible for your mortgage. Here is some more information about mortgage rates and how to secure the best rates possible for you and your home.

Fixed Vs. Variable Rate Mortgage

One of the main factors that will affect your mortgage rates is whether you have a fixed or variable rate loan. In a fixed mortgage rate scheme, your payments as well as interest will stay the same for the duration of your mortgage term, regardless of whether there are fluctuations in the market. In a variable rate mortgage scheme, your mortgage payments and interest can go up or down depending on the prime rate, which is the market interest rate. If the prime rate goes up, you may see a rise in your mortgage payments but if the prime rate drops, you’ll see a drop in your payments as well.

Both fixed rate and variable rate mortgage come with their own benefits and drawbacks. As of 2011, 60% of Canadians opted for fixed rate mortgages, but that doesn’t necessarily mean it’s the right option for everyone. Variable rate mortgages can be more cost effective over time, but you may prefer the peace of mind knowing that your payments are never subject to change. You can make an informed decision about your mortgage by looking at the current rates at the time of purchase. If rates are low and aren’t predicted to drop any lower in the near future, it may be advisable to choose fixed rate mortgage. If the prime rate is expected to fall you may want to choose a variable rate mortgage, especially if there’s a significant difference between the current fixed and variable rate.

Mortgage Consultation and Support You Can Trust

At Mortgage West, we are constantly keeping track of the prime rate so you can have an idea of where the market stands at any given moment. Our team of experts can present all of your available options and help advise you on the relative advantages of each, so you can feel secure in making the most informed choice possible about your mortgage.

Rose Blankenagel is one of the most experienced and successful mortgage broker in Kamloops. She has helped numerous home buyers secure the property of their dreams across Alberta and British Colombia. Her years of industry experience and her approachable demeanor make Rose the ideal mortgage broker for first time home buyers. Entering the housing market can be a confusing and overwhelming process, especially for those who haven’t dealt with it before. With the expert advice and support of Rose Blankenagel, you can purchase the home of your dreams at a rate that suits your budget. Rose can also help you think about future financial planning, and help you to find the mortgage rate that will work best for you for many years to come. For more information about mortgage rates and what type of housing loan is best for you, contact us today at Mortgage West - The Mortgage Centre.