10 year mortgage rates, understanding the odds in your gamble

Since interest rates are at historic lows many consumers are asking questions about 10 year mortgage rates.  This short video gives you an understanding of what you need to understand to ensure you get the best odds on your bet, a 10 year mortgage is like placing a bet.

Here are few other keys points about 10 year mortgages:

1)  After the first 5 years of a 10 year mortgage, Canadian law states that the maximum penalty is 3 months interest payment and not Interest Rate Differential (IRD) like 1 – 5 year mortgages.

2)  Before you commit, have an Accredited Mortgage Professional assist you in the calculation in the video.  This will help you understand what your break even interest rate is in 5 years time.

3)  10 year mortgage rates are not very competitive in today’s environment, a mortgage broker can be a huge advantage for you, your bank or credit union may not be able to be very competitive.

 

 

 

 

 

Similar topics:  Understanding Mortgage Rates 

10 year mortgage rates

10 year mortgage rates

10 year mortgage rates

10 year mortgage rates

10 year mortgage rates
10 year mortgage rates