Compared to the interest rates we saw a few years ago, today’s rates may seem intimidating. Petawawa-based mortgage broker Andre L’Ecuyer warns that if you’re up for renewal, you could be in for a shock.
That being said, L’Ecuyer explains that interest rates are starting to come down.
L’Ecuyer is hopeful we could see interest rates in the 3% range by the end of the year. So, if you have a few years before needing to renew your mortgage, he suggests holding steady.
Continuing, L’Ecuyer adds that mortgage brokers can be helpful when it comes to figuring out the ins-and-outs of a mortgage.
(Written by: Matt Vernon/Kyle Robinson)