It’s important to note that although rates may be higher now than before, we are starting to see them decrease. Additionally, property values have stabilized. If your rate is lower and is maturing in the next year or two, you may want to consider blending the interest rate to capitalize on the lower rate you previously had. Not all lenders offer blending rates, but some do. Whether you’re refinancing or purchasing a new property, I can assist you with this process.

If your lender does not offer blends and extends, we can explore the option of getting you a new rate. If the rate reduces before the possession or funding date, we will make sure to get you that rate. As your assistant, I always work with my clients to get them the best rate possible.

It’s important to note that all mortgages in Canada, whether you’re refinancing or purchasing, have a stress test. This means that borrowers are restricted from purchasing a property that is too high and inflating the ratios.

At the end of the day, what matters most are the options available to you. As your Mortgage Professional, I have a range of options to explore with you. Let’s find the best one for your specific needs.