Help your friends

The Bank of Canada recently released a paper on the "Competition in the Canadian Mortgage Market", which presented some very interesting findings.

  • On average, higher income households pay a higher rate on their mortgage than lower income families.
  • Banks with large branch networks charge higher rates on their mortgages.
  • Borrowers who put less down on their mortgage pay a rate premium over those who put more down.
  • Banks offer larger discounts to new clients than existing clients.

This report also found that just over 30% of people who applied for a mortgage did so through a mortgage broker.  There are a lot of people out there who didn't benefit from the services that I provide my clients.

As a mortgage broker, I make sure that you are receiving the lowest possible rate on your mortgage!  Even if you feel more comfortable going to one of the larger banks, I can get you a discounted rate that they won't offer you as a client of that bank.

Tell your friends about the benefits of using a mortgage broker!  They may be one of the people that haven't received the best rate available to them.  Wouldn't you want to help your friends thousands of dollars on their mortgage?

This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.

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About the Author

Tracy Head and Laurie Baird help busy families find mortgage solutions. Together they have more than 45 years of experience in the mortgage industry.

With today’s increasingly complicated mortgage rules, Tracy and Laurie spend time getting to know the people they work with and help them to better understand the mortgage process. They support their clients before, during, and after their mortgage is in place.

Tracy and Laurie work closely with their clients, offering advice and options. With access to more than 40 different lenders, Tracy and Laurie are able to assist with residential, commercial, and reverse mortgages in order 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 www.okanaganmortgages.com

Visit their blog at 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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