With interest rates consistently climbing there is a lot of talk about the cost of borrowing. Although interest rates have gone up and seem to be continuing in that direction rates are still quite good! It is still a great time to buy.

As an example back in January of this year you would have been able to get a 5 year closed term at 2.99% currently you are looking at around 3.44% for the same term. On a $300000 mortgage back in January your monthly payment would have been approximately $1410. At today’s rate the same mortgage comes with a payment of $1474 per month. So really quite a small increase. Taking into account that we are in a buyers’ market and that the list price of a house is quite possibly lower now than it was in January the difference could actually be nothing. Overall it’s a good idea to speak with the professionals and get the right advice. These professionals would be Mortgage professionals Brenda MacKay and Jessica Bartolf here at Mortgage Alliance Advance Mortgage and one of our trusted realtors that we would be happy to recommend to you.

Give us a call to secure your rate and have any questions you have answered! 403-347-0774

 

Jessica Bartolf

Mortgage Associate

Mortgage Alliance Advance Mortgage