A lot of mortgages on homes bought in the uproar of the pandemic will be renewed in a trade war.
Let’s hope the mortgages-in-a-crisis theme ends soon, and that the next renewal wave happens in a period of financial calm and clarity. For now, we have the opposite.
Mortgage rates are being pulled in two directions by the trade war, complicating the all-important decision of whether to choose a fixed or variable-rate mortgage. A softening economy raises questions about what people who lose their job should do about their mortgage. And, then there’s the question of how are lenders seeing all these developments – are they tightening lending and cutting back on discounting?
If you have questions like these, we want to hear from you. Use this form to send your mortgage query and we’ll get experts to respond to some of the questions.
Making the best financial decision on your mortgage means getting the best rate, paying the least interest and ensuring you have acceptable terms in case you want to break the mortgage. Lots of room for prepayments is also a plus.
In a trade war, there’s an added dimension of risk control. If there’s a lot of uncertainty in your life, the question of variable versus fixed may boil down to which produces the least stress.
Let us help you work through your mortgage decisions. All questions are welcomed.
On a completely unrelated note, I am happy to report that we’re finally seeing progress in making free Wi-Fi widely available on flights. Air Canada just announced that Aeroplan members will have free Wi-Fi at speeds suitable for video and gaming available on Air Canada, Air Canada Rouge and Air Canada Express flights across North America, Mexico and the Caribbean.
Porter Airlines has for a while now offered free Wi-Fi on its fleet of Embraer 195-E2 jets. Members of the airline’s frequent flyer program get unlimited Wi-Fi, while other passengers get 30 minutes free after watching an ad.
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Do you have a mortgage question?
Whether you're a aspiring or new home buyer, or looking to renew, we want to hear from you. Is a fixed or variable rate the best way to go? How will tariffs impact the mortgage market? Is better to go to your bank or consult a mortgage broker? Submit your question and our mortgage expert could answer it in an upcoming column.
