I wanted to take this opportunity to keep you up to date with some mortgage changes which will affect your next home purchase.  New policies for investment properties and lending policies are soon to take place.  Most importantly, interest rates are going up.  Today’s best interest rates are about 3.79 percent for a 5 year fixed rate…..Expect to see interest rates increase to roughly 4.49 percent very shortly.  These numbers are still amazing if you look at our historical averages, although they will not be as good today’s current rates and these changes could cost you thousands of dollars.  To illustrate this I’ve linked a great article below explaining some of these changes.

My Advice:

Get pre-approved for a mortgage today!  Lock yourself into the lowest rates.  Even if you’re not going to be making a decision in the next few weeks…you will be guaranteed the lowest rates when you are pre-approved and locked into today’s interest rates.   I have an amazing mortgage broker as part of my team.  Contact me directly for her information as she can be of great assistance to you.

http://news.ca.msn.com/top-stories/cbc-article.aspx?cp-documentid=23753349