Advantage of 10-year fixed

With all the turbulence in financial markets right now analysts are having a difficult time predicting where interest rates may be in 5-10 years.  With all this uncertainty, today is a good time to look at locking into a 10 year term for three reasons. 

Firstly the current 10 year rate is at an all time low right now. 

Secondly payment certainty.  Most people tend to budget their expenses around their mortgage and the 10 year rate allows the borrower to be able to budget for the long term. 

Thirdly, a 10 year provides safety.  The average mortgage holder with a $300,000 mortgage could face an increase of $300 - $400 per month when their current term matures, if rates do increase by 2% over the next 3-5 years.

Now is a great time to consider at 10 year fixed rate mortgage. If you would like your own report,  click here

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About the Author

Laurie Baird and Tracy Head are mortgage brokers with Verico Complete Mortgage Services. Together they have over 45 years of experience in the mortgage industry.

As mortgage brokers, Laurie and Tracy spend time getting to know the people they work with and help them understand the mortgage process. They support their clients before, during, and after a home purchase.

Laurie and Tracy are able to offer their clients advice and options. With access to over 40 different lenders, Laurie and Tracy are able to match the needs of their clients with the right mortgage package. They work closely with their clients to find the right fit, and are around to provide support for years down the road!

Contact them at 250-862-1806 or visit:

Visit Laurie's blog at: https://www.okanaganmortgages.com/blog

The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet does not warrant the contents.

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