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Should I Wait to Buy?

Posted on April 23, 2011 at 6:40 PM

This article in the Financial Post is what has inspired me to write this email today.

Let me share a quick story to illustrate a point . . .

One of my clients referred a friend to me last week who needed to refinance her current mortgage. After a lengthy discussion she said

"I think I will wait, I am too busy right now."

Rates rose .25% at most lenders last Monday, just as I suggested to her that they would. On her $400,000 mortgage her inaction has already cost her an additional $56.76 per month or $3,405 over the next five years.

Most economists are saying that the Bank of Canada rate will rise by 1% by this time next year, and fixed rates will likely go up another .50% to .75%. With this particular client scenario her $400,000 mortgage will cost an additional $172.65 per month or $10,359 in additional monthly payments if she waits until later.

I wanted to share with you that I have invested in a tool that very quickly analyzes the effects of waiting to refinance your mortgage, or simply waiting to consider locking in your mortgage. It is quick, it is laser accurate, and highly effective.

I know that many of you may not have a NEED to refinance. I also know that many of you may not WANT to refinance but I think this information is still important. Maybe you know someone who does NEED or WANT to refinance, and what a gift you could give them. If you have not had your mortgage situation checked lately I am concerned and I want to help.

Please allow me the opportunity to run a no obligation assessment of your situation through my analysis tool by contacting me today.

Bond spreads continue to rise and I am certain the window on low interest rates is closing. I am ready to help.

April Dunn

Mortgage Broker

Mortgage Alliance Homeline Mortgage

250-826-3543

www.aprildunn.com

Subscribe to my blog: www.Kelowna-MortgageBroker.com

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