Mortgage Rates

Picking a mortgage: mounted or variable amount?





The conclusion no matter if to go with a mounted or variable amount mortgage can be complicated, because there are professionals and disadvantages to each. Kristine Skinner, Economic Advisor at BlueShore Economic talks about the two most important issues to look at and option forms of home loans that are a minor of each.

BlueShore Financial’s mortgage remedies usually are not just one-sizing-fits-all. We make customized home loans to match your requirements, allowing for you to nominate how much of your home financial loan you would like to be secured with mounted mortgage premiums and how much of your home financial loan (the remaining quantity) you would like to place on a variable amount. Your mortgage break up is wholly versatile — fifty/fifty, 30/70 — you make a decision, centered on your convenience degree and tolerance for chance.

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2 comments

  1. Hey, Peter. A standard variable rate mortgage has no cap; however, since it's tied to Canada's prime rate, which historically goes up very slowly, the chances of it skyrocketing are minimal.

    If you're at all concerned about rising rates, we offer a variable CAP rate mortgage which does offer a rate ceiling. The rate will be capped automatically if at any point during the term of your mortgage, rates rise beyond the pre-determined maximum. If you have any questions, please don't hesitate to give us a call at 604.980.2000 or visit our web page: http://www.blueshorefinancial.com/mortgage.

    Reply
  2. Thanks for sharing. Can variable sky rock and go up higher than a point at a given time?

    Reply

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