Edmonton Mortgage Rates.
Mortgage Rate Related Tip: Mortgage rates can vary widely from lender to lender. While you may feel an obligation to “stick” with the bank you deal with on a daily basis for your mortgage needs, it is definitely not in your best interest to do so. You might automatically think they will give you the best mortgage rate they have because you consider yourself to be a valuable customer to them, but in most cases, nothing could be further from the truth. You are nothing but a number to them, as mean as that might sound. Their mission is to make money and if they can squeeze you for a point or two on interest rate, so much the better. Millions of people make this mistake every day because of lack of education. They are not your bank out of the goodness of their heart! You are their customer and they want your money.
You can test this for yourself if you want, go to your bank, book an appointment to discuss getting a mortgage with them and see what rate they offer you. Say thank you and then call a local mortgage broker and see what rates are available to you in your area. You’ll be surprised at how much difference in rate you are able to get between lenders. We often have clients that come to us, who have been at their local branch and gotten a said “discounted rate” only to qualify them at a rate one to one and a half percent lower! And as mortgage brokers, we can sometimes get them that much lower rate with their own bank! As brokers, banks and lenders deal with us for volume and like Walmart, volume means savings. Talk to a mortgage broker today about real discount mortgage rates and get the rate you really deserve.
This data is provided for information purposes only and is updated daily by TMG. Posted rates are subject to change without notice. Rates are compounded semi-annually, and not in advance. |
