Response to mortgage rate controversy
Ottawa Mortgage Broker Frank Napolitano takes some time to comment on the recent request from the minister of finance for major lenders to withdraw their historically low mortgage rates.
Click here to watch the full video.
Finance Minister Jim Flaherty has been in the headlines recently, not only for the release of the federal budget, but for reports of his office requesting that a major lender withdraw promotion of their 2.89% mortgage rate. It is believed that his concern is that clients who choose to take a 5 year mortgage at these rates will be unable to keep up with their mortgage payments when they renew in 5 years at a higher rate.
This conversation with Frank Napolitano highlights that this is one of many reasons to consult a mortgage professional, who will not only find the best mortgage rate and the best terms to suit their clients, but will go through a financial plan to ensure the mortgage they choose is the best fit.
Mortgage rates as low as 2.89% are still available - talk to an Ottawa Mortgage Broker for more details.