Mortgage Best Rate

Posts Tagged ‘Variable Rate’

There’s a lot to consider these days. Variable rates look great but what are the pitfalls. Fixed rates are exceptionally low as well. Do I want security or big savings? What are these 2 rates based on? Variable rate is based on the Bank Prime Lending rate which is what financial institutions charge to the consumers. Bank of Canada Lending rate is based on the Central Bank Rate (the amount of interest the Bank of Canada charges Read the rest of this entry »

Interest rates change so much it’s hard to keep proper track of them. Yet they affect our lives in lots of different ways – not least in the amount we pay for the privilege of owning our own home every month, and in the amount we earn on our savings.

When you buy your own home you tend to start praying for lower interest rates, as they will directly affect the amount you have to pay back each month. But Read the rest of this entry »

The mortgage market as a whole is in a pretty poor state at the moment, sub-prime lending in the United States has had a knock on effect on banks worldwide and the main effect that people are seeing is that home repossessions have increased exponentially since this tough time has started.

The much publicised collapse of the bank Northern Rock has also contributed to the increasing problems with banks in this co Read the rest of this entry »

With low Fixed Rate’s available now, this is a question that gets asked a lot at the moment, especially given the volatility of interest rates in recent years and other economic pressures.  Mortgages come in two main varieties, Fixed Rate Mortgages and Variable Rate Mortgages (also called floating rate or revolving credit).  Fixed rate mortgages offers security and ease of bu Read the rest of this entry »