“When will rates go up?” has been a question on the minds of Canadian homebuyers for many years.  With each month that goes by, it becomes something more frequently voiced, especially considering the historically low interest rates of the past few years.  No one in the mortgage industry has a crystal ball, but it would seem that the time has indeed arrived.  The recent rule changes implemented by the Canadian Government and the impact of Donald Trump on the bond market, have both caused interest rates to start creeping up. 

Despite some lenders increasing their fixed rates and some banks increasing their Prime Rate, it is not a time to panic.  It is, in fact, the perfect time to get educated and find out what your options are.  Here are a few things to consider:

• Are you are considering house hunting in the near future?  Your first step should be talking to one of our knowledgeable One Link Mortgage Professionals.  Why?  We can explain about the importance of pre-approvals and how you can get a rate hold for up to 120 days.  This will take you well into spring and give you peace of mind while looking for that perfect home.
• Do you currently have a mortgage that will be coming up for renewal?  Even if it is months away it is a good time to talk to one of our Mortgage Professionals about your options.  Remember that you can lock in a rate as many as 120 days in advance.  Even if you aren’t sure when your current mortgage is up for renewal, give us a call (204-954-7620) and we can review your situation and see if it is still the best fit for you.
• Have you been thinking about refinancing your mortgage?  Are you wondering about the possibility of using some of the equity from your home to make a few changes?  Maybe you are thinking of doing some renovations, consolidating debt or perhaps looking to invest in RRSP’s.  Our One Link Mortgage Professionals will analyze your current mortgage and financial situation and provide you with the best course of action.    
• Even if you are unsure of what all these changes mean and are just looking for information, reach out to One Link.  We pride ourselves in educating our clients about mortgages and what is the best option for them.  Best of all our services are free!

For more information on the Mortgage Rule Changes and how they affect you, how to get pre-approved or rate changes, please contact one of our trusted and knowledgeable Mortgage Professionals at One Link Mortgage or click on the “Contact Us” form on our website.  We are here to help.