Frank Rendon

A fixed rate locks you in for a term, allowing you to know your monthly mortgage payment and have it stay the same. While variable rates are often lower than a fixed rate, they can fluctuate with the BoC posted rate. This allows you to benefit from interest rate drops, but you pay more when the interest rate rises.

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Qualifying rates for high ratio and conventional mortgages are going up today Jun 1st, 2021. We now have to qualify based on 5.25% (instead of the previous 4.79%).

Sometimes starting over is the path to success!

The qualifying rate is the Bank of Canada conventional 5 year fixed posted rate. A contract rate is the rate offered by the lender on the homebuyer’s actual mortgage payment.

You are an incredible soul, wrapped in a body made of stardust, rocketing through space... you've got this!

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Failure is only an end if you decide it is. Keep going!

We are not just mortgage experts, we are also advice givers, pre-qualifiers and paperwork enthusiasts! Don't worry, your mortgage is in good hands with me!!!