CTV News - Mortgage Minute
Ottawa Mortgage Broker Frank Napolitano stops by CTV to discuss shopping for a better mortgage rate, and consolidating high-interest debt.
Click here for the full video from CTV Ottawa.
Ottawa Mortgage Broker Frank Napolitano sits with Kurt Stoodley to talk about the expected path of mortgage rates in 2013, the importance of shopping around for a mortgage rate, and consolidation of high-interest debt.
Mortgage rates have stayed at historic lows for most of 2012, but are predicted to rise in 2013. Although the 2.99% rate is not expected to stay available, it is not expected that rates will rise significantly. Frank encourages home owners with mortgages coming up for renewal in the spring to start shopping for a mortgage rate now. A rate hold can be requested for up to 4 months, giving clients the ability to take advantage of mortgage rates at their current lows.
Frank also highlights the importance of staying informed about your mortgage, knowing what your rate and terms are and what you can get. A mortgage is the largest debt you will ever carry, so education is key.
For additional information or any questions, call an Ottawa Mortgage Broker.