What Does the Fed Announcement Have To Do With ME???

Sluggish Recovery in the U.S. Leads To Rates Holding Steady

So, with the Fed Announcement today regarding their lending rates, you will likely see many mortgage brokers posting on social media about the unsurprising announcement to keep the rate steady due to a sluggish recovery. 

"Why should I care??" you ask, and scroll down....

After all, you are a Canadian citizen, you have no holdings in the U.S. and quite frankly, would rather be looking a cute pictures of your friend's children and cats on a Roomba than a snooze fest of an economic update :)

 

GREAT QUESTION!!!!

We in Canada are SO heavily tied to the U.S. sooooooo...when they decide to raise rates, we usually follow. When they decide to lower their rates, we usually follow. When they decide to hold steady....well, you get what I'm saying.

We are currently in a very low rate environment. This is true for both fixed and variable rates. And, with the Fed announcement today, it looks likely that things may stay that way for a while.

If you have a personal line of credit, this is great news. If you are looking a Real Estate purchase, this is even better news!

NOW is an incredible time to be purchasing a home and NOW is an incredible time to be in a Variable Rate Mortgage. Being in a Variable Rate Mortgage or a Home Equity Line of Credit (HELOC) gives you the flexibilty to be aggressive with your mortgage and become mortgage free faster!!

When you are deciding between the merits of a fixed rate and a variable rate, your Red Deer Mortgage Broker, Brandi Pierik, is constantly staying up to date on the most recent developments surrounding the climate of interest rates. And all of that knowledge and experience gets passed on to you, the consumer. Brandi Pierik, Red Deer Mortgage Broker, will work with you throughout the term of your mortgage to make sure that you are employing the best rate strategies for you and your family. Please call 403-588-8657 or email brandipierik@gmail.com for more information!

 

 

 

 

 


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