In todays market, renters and even homeowners in Canada are seized by the desire to save enough funds for down payments. The reason is simple. Canadian mortgage rates are going down and real estate prices are in full swing.
To cover the heavy demand for more mortgages, lenders have adapted flexible techniques, like lowering down their Canadian mortgage rates and coming up with new products all the time.
A traditional Canadian mortgage rate would be a loan requiring the buyer to put down 20 per cent of the propertys value in cash. Such a Canadian mortgage rate requires a big amount of money but the benefits are great.
Look around for low Canadian mortgage rates
Shopping around the Canadian mortgage rate market can cut down your down payment costs. With a little research, buyers can even access the posted Canadian mortgage rates and interest rates of large banks and get them for less, about one percentage point or sometimes more.
For instance, the Canadian brokering company in Montreal, Multi-Prets Hypotheques is currently offering their customers a five-year Canadian mortgage rate of 5.1 per cent. This is low compared to other banks posted...
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