Matthew Gottfried

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Are you getting or renewing your mortgage this year? Uncertainty about interest rates continue to be top of mind for borrowers. Three strategies to help you limit your risk of uncertainty are:


1. Use multiple rate holds – Getting a rate hold early protects you from temporary increases before you sign off on your mortgage. If rates decline before your renewal, you can ask for another hold at the lower rate.


2. Choose a short-term fixed – If you need a new mortgage now but believe rates will fall in the future, you can lock into a one-year fixed. These types of rates are higher than a 5-year fixed but if rates do decline over the course of the year, paying more for a one-year fixed works out better than locking into a 5-year fixed.


3. Choose a hybrid mortgage – This lets you split your loan into two or more portions tied to variable as well as fixed rates.

http://www.mortgagewithmatt.ca/





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