heads up - mortgage rates are moving up

HEADS UP - January 14th 2021

Just a heads up that I have heard, from a few trusted sources, that Royal Bank of Canada is increasing their mortgage rates as of tomorrow.  So far, silence from the other chartered banks but what one does the others are usually soon to follow.

So far, no indicating that my broker friendly lenders are following this plan of action and we usually always get a couple of days notice if they are.

So my strong suggestion to you and any buyers you are working with, get them to contact me and get a pre-qualification done and a rate hold obtained.  Rate holds on a purchase are good for up to 120 days.

My question to you and your clients - has their bank mortgage specialist taken the time to pass on this bit of info --- didn't think so.

Remember, unlike the bank mortgage advisor, I work for the client (YOUR buyer) not the lender.

Cathy McMurrich - THE MORTGAGE GROUP 403-568-8817