Refinancing a mortgage in Canada, should you?

sandy — Tue, 20 Jan 2009 19:31:42 +0000

Is this the right time to refinance my mortgage? This is a common question that comes up when talking to partners and even through emails to our support email. Unfortunately, there isn’t a single answer for every person but here is one good piece of advice. When you refinance you mortgage, make sure you shop around for the best rate, and best terms. Lenders rarely give you their best rate on the first offer so a little push back, and knowing mortgage trends, can quickly save you money.

If you don’t have the time to shop the mortgage your self then try using a mortgage broker. Mortgage brokers spend all day thinking about mortgages and how to save people money. A really good mortgage broker can save thousands and thousands of dollar over the life of your mortgage.

Check out HomeZilla’s mortgage broker directory to quickly find a mortgage broker in your area.

Mortgage brokers can also help you answer the question, “Is this the best time for me to refinance my mortgage?“. There are a lot of variables and mortgage brokers can help you get the correct answer faster because they watch the mortgage trends. But always keep in mind, for most people their mortgage is their biggest investment so every little bit you save can make a huge difference.

update April 24, 2009

Mortgage Rates

The Bank of Canada has reduced interest rate to an all time low, 2.25%. This puts mortgage rates to an all time low. Buying a house has never been cheaper and even more importantly refinancing your mortgage can save you thousands of dollars per year. Call a mortgage broker today.

update April 27, 2009

Mortgage Refinancing Tool

Do you want a quick way to determine if you should refinance your mortgage? Check out HomeZilla’s Mortgage Refinancing Tool. In just six quick questions advise you refinancing your mortgage.

HomeZilla Corporate Blog » Mortgages

Refinancing a mortgage in Canada, should you?

Mortgage Rates

Mortgage Refinancing Tool