The time to renew your mortgage is near and it is important to start considering the different available opportunities. Generally, the mortgage loan is our most important loan, yet we often wait at the last minute to ponder the interest rates that are available to us.
While your renewal may only be due in January 2011, it is the ideal moment to lock in your interest rate. Interest rates have never been this low (5 years at 3.79% ). Don't forget our 5 years rate to 5.39 % + a handing-over of 5 %.
By reserving your interest rate right now, you are protected against a rate increase until renewal time. You can always benefit from a reduction if this occurs.
A good rate protection often involves changing lenders (SUBROGATION). Note that the fees inherent to a mortgage transfer are absorbed by the new creditor. |