• Administration

Mortgage Rates 101



In the marketplace today, you can choose from two mortgage rates – fixed or variable. Are you comfortable with some risk in order to possibly save some money in the long run or prefer the peace of mind that comes with stability? These among other factors are important to consider before deciding between fixed or variable.


FIXED RATES:

Mortgages with fixed rates will not experience any change or fluctuation in the amount paid towards interest and principal during the term of the mortgage as the rate is locked. Essentially, fixed rates provide consistency and stability to the borrower (no surprises here).


VARIABLE RATES:

Variable rates may either increase or decrease during the term of the mortgage. Your lender will either provide you with a premium rate or discount rate. Due to the fluctuating nature of the prime rate, the borrower must be comfortable with some risk.


Still not sure what mortgage rate is right for you? We are here to help you consider all the factors before choosing - we are never too busy for you or your referrals!

(Main) 306-221-7493

(Fax) 833-537-5387

200 - 446 2nd Avenue North, Saskatoon SK  S7K 2C3

  • Instagram

©2019 by Reimer Financial Ltd
Mortgage Architects, Brokerage# 316728
Karen Reimer, Mortgage Broker# 315749
Proudly created with Wix.com