Broker: Save clients from themselves - Mortgage Broker News

This was a good read, and got me thinking. As it is true. Especially when we had not that long ago the much prized 2.99% that BMO was launching. For our valued clients, that really want that special house, what happens in 5 years when it is time to refinance, and payments go up. Especially when they would "just" qualify for the current mortgage.  ....   I think it is why as well more and more clients are looking at the long term rates, for the 7 and 10 year terms as they are low enough to actually cause your clients to pay less mortgage over the long run, as well as give more stability. With mortgage rules changing like clock work now, and tightening up.... we truly need to be looking more long term. As the house that is being purchased (or refinanced) is actually a home, which is already something that is long term.

Read below & think about the different options:

Broker: Save clients from themselves - Mortgage Broker News