Current Rates:
5 Year Fixed: 3.45%
3 Year Fixed: 2.90%
VRM: P - 0.8% (2.20%)
Home Purchase Information
The purchase of a home is the largest purchase most people make during their lifetime. At Dominion Lending Centres, we want to make each and every purchaser aware of the many mortgage options available to them prior to their purchase and closing date.
Selecting an experienced, ethical and knowledgeable mortgage advisor is one of your most important decisions when purchasing or renewing.
Did you know that approximately 75% of Canadian home owners select a fixed rate mortgage?
Did you know that a recent study comparing fixed vs. variable rate mortgages over the past 60 years concluded that one is better off in a variable 77 to 90% of the time?
Which one is better at any give time depends upon the size of the gap between fixed and variable, as well as economic conditions and predictions, particularly short to medium term.
Most mortgage advice being offered is unsophisticated and is costing many Canadians tens of thousands of after-tax dollars over the life of their mortgage.
Be sure to use a professional who will prepare a spreadsheet comparison for you; actually crunch the numbers rather than give you verbal shoot-from-the-hip advice.
We would be happy to prepare a personalized comparison for you, taking into account your mortgage size, the interest rate gap combined with the current economic outlook.
Whether you are first-time buyer or an experienced buyer with excellent credit, Dominion Lending Centres has access to the very best products and rates available across Canada. Give us a call... we think you'll be pleasantly surprised!
