Finding the best mortgage rate is the number one priority for most Canadian home owners. Although there are other mortgage features that require careful attention, the fact is that 95% of the mortgages out there are comparable. The differentiating factor for this significant majority is the interest rate.
The best mortgage rates in Canada 2014 come from a variety of different lenders. These lenders include banks, credit unions, trust companies and mortgage banks. In order to find the best mortgage rates Canada 2014 you need to consider all the sources and keep an eye out on almost a daily basis. With dozens of mortgage lenders out there you never know who is going to offer a mortgage rate special in order to fill their quota of mortgage loans.
Timing is very important if you want to find the best mortgage rates in Canada 2014. The cost of mortgage funds for Canadian mortgage lenders varies on a daily basis in step with government of Canada 5 year bond yields. The individual mortgage rates offered by these lenders can vary daily. In a normal day it’s likely that at least one Canadian mortgage lender will change their mortgage rates or introduce a mortgage rate promotion.
In order to secure the best mortgage rate in Canada 2014, be sure to consider all the local lenders and lock in early to avoid mortgage rate increases. This can be a full time job so it’s advisable to engage a trusted mortgage professional.