Origination Kelowna Mortgage Broker comments on the recent change and gives some advice for mortgage seekers at this time.
Kelowna, BC -- (SBWIRE) -- 01/29/2014 -- Origination Kelowna Mortgage Broker Canada is a full service mortgage company that has been helping residents of Canada to find the best loan products and home loan rates for many years. The company, headed by the Steve, has been dedicated to serving its customers with honesty, integrity and competence. The Origination Kelowna Mortgage Broker Canada team of mortgage professionals operates with the goal to provide home loans to its clients while providing them with the lowest wholesale interest rates and closing costs possible. Now, with mortgage rates in Canada moving back to 2014 lows, the mortgage company gives some advice to those looking for the best mortgage deals.
A recent article from Mortgage News Daily, posted on January 23rd, explains, “Mortgage rates snapped quickly lower today, matching or beating the best levels seen so far in 2014. Weakness over the past two days threatened to carry rates out of the recently narrow, low range enjoyed since this month's Employment Situation report on the 10th. Today's improvement decisively preserves that range and introduces the possibility that rates could break out of the range on the other side. 4.5% remains the most prevalent quoted conforming 30yr fixed rate for ideal scenarios (best-execution). When adjusted for day to day changes in closing costs, rates fell an equivalent of 0.03% today.”
The same article goes on to explain, “Yesterday, we discussed the possibility that rates were coming to a crossroads ahead of next week's FOMC Announcement. Given the 2 days of weakness, the risk was that we would start down a less friendly path with any further weakness today. Instead, we got the complete opposite. Even though it was an abrupt reversal from the first two days of weakness this week, the near-term outlook is still dominated by next week's FOMC Announcement.”
Origination Kelowna Mortgage Broker Canada suggests that this new drop in rates makes for a very good opportunity for many Canada mortgage seekers to save money on their home loans. The company explains that while it is a possibility that rates might move lower before next week’s announcement, it is unlikely that this downward trend will last for very long. All 2014 mortgage rate predictions show rates moving upwards throughout the year, so any time rates drop should be seen as a good opportunity for borrowers to lock in and save on their loan.
Origination Kelowna Mortgage Broker Canada can help those who wish to lock in today’s low mortgage rates to find the best possible loans for their situation and work quickly to get approved so that they can avoid higher rates down the line. Their fast online loan application and documentation portal makes it simple for clients to submit their application and keep track of their loan’s progress. With a reputation for fast, reliable and courteous service, the company’s team of experienced loan officers can be especially useful during this time of rapidly changing mortgage rates.
Beware of credit counseling agencies that spend little or no time evaluating the finances before advising to enroll in a debt management plan or that ask to begin paying on a debt management plan before the creditors have agreed to work with .
If the unsecured creditors believe that giving what need is in their best interests, they will probably agree to the credit counselor’s proposal.
After the credit counselor has prepared the final debt management plan
Ask for a copy.
Note any restrictions in the plan. It may prohibit from taking on additional credit with the current creditors or applying for new credit while it is in effect. If violate any aspect of the plan, risk having it cancelled.
Verify that the plan says will receive monthly updates on the status of the debt management plan, including confirmation that each of the creditors was paid according to the terms of the plan
When the plan is official, pay the credit counselor the amount of money have agreed to pay on the debts and the required monthly fee. In turn, the counselor pays the creditors.
Some creditors who agree to be part of the plan may report as slow paying or as paying through a debt management plan, which will damage the credit history a little. However, statistics show that successfully completing a debt management plan actually increases the FICO score.
About Kelowna Mortgage Broker
Origination is a Kelowna Mortgage Broker serving customers all across Calgary Canada. Contact the mortgage specialist Kelowna https://www.origination.ca/
Copyright © 2005-2014 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-593-5640 (International)