Rates continue to be at historic lows and the chat around the water cooler these days is about re financing. There is a unique opportunity for homeowners to save a significant amount. Your clients could utilize my expertise in a number of ways:
Ø Is their mortgage up for renewal this year? Over 70% of clients simply sign the renewal notice issued by their bank without shopping around for a better rate or product.
Ø Do they have outstanding debt that could be consolidated onto a mortgage? Keep the following in mind: $20,000 credit card debt, clients pay approximately 21% interest. By consolidating that debt into a mortgage, the interest could be reduced to just 4.3%
Ø Purchase a second property for rental investment and take advantage of the current housing market.
Ø Could an equity take-out mortgage finance home improvements – and potentially increase the value of their home?
Currently the best 5 year fixed is at 4.29%, 3 year fixed at 3.75% and variable rate mortgages at prime plus 0.8% (3.8% today)