I am so thankful every day for (good) mortgage brokers. Their job is tough (and tedious if you ask me), and a good broker can be the difference between you securing a great new home, or struggling to make sense of the new mortgage rules and requirements. Every time my clients have had issues with their financing, it’s because they’re going through a bank, who hinders the process with red tape and blanket requirements that don’t take into account unique situations. The mortgage world world has seen a lot of changes in the last few years, and recently, since slight increases in interest rates. Most people don’t know that you can still get a mortgage with a sub-3% rate, which is very good. Whether or not this is possible for you, and whether or not it makes sense for you, depends on a million other factors, and that’s what a good mortgage broker is there to determine.
One of my preferred Mortgage Broker Teams, Pinsky Mortgages, had made this handy chart with today’s mortgage rates* to give you an idea of what you can expect:
| Term | Insured | Insurable | Uninsurable |
| 5 Yr Variable | 2.40% | 2.41% | 2.75% |
| 5 Yr Fixed | 3.19% | 3.19% | 3.44% |
| 3 Yr Fixed | 3.09% | 3.09% | 3.29% |
| 2 Yr Fixed | 3.19% | 3.19 | 3.19% |
*Note that rates can increase or decrease, and can change based on the specifics of your financial situation.
