by Home-mortgage-advice » Fri Apr 09, 2010 07:36:27 AM
I believe that people should consider fixed rates over the variable for the next 3 -5 years. I think we are entering uncertain times. Things are not as rosy as it seems, real estate market will cool down no matter what, and variable rates will start rising, especially with inflation picking up. I always tell people, true savings come from proper planning, reducing taxes and proper investing. I have a system for my clients to follow that saves and makes them a lot of money. Interest rates, that what the government, banks and other parties want people to pay attention to, and not to turn heads towards outrageous taxes that they charge. It’s just my opinion though.
By the way, new mortgage rules took place for people with stated income, and it will become more difficult to qualify under CMHC programs. Fortunately, there are other lenders that will gladly accept self employed people with lesser requirements. Feel free to contact me for more details.