Hot property October 11, 2008

Hot Tip Of The Week

And The Mortgage Plot Thickens...

We talked with Michael Campbell about the mortgage debacle and the constant changes we have seen the last 2 weeks.

On Saturday the best bank variable (HSBC) was .75% over prime, Vancity was .70 over prime ... most banks were at 1% over prime, the TD was 1.5% over prime ... and then ... not all banks had the same prime rate... I.e. The TD and CIBC prime rate stood at 4.35% whereas the others were as 4.25%.

The CIBC's Firstline cut off all creditline and variable lending altogether (McQuarrie did too) and the "mortgage plot really has thickened".

To make sense call a knowldegeable mortgage broker such as:

Kyle Green, Meridian Mortgages kgreen@meridianfinancial.ca 604-949-1070 ext. 227 Chris Pughe Chris_Pughe@vancity.com (C) 604 340 2355 (F) 604 241 0131
Nadja Burmatoff nadja.burmatoff@rbc.com, (C) 604.710.8782 (F) 778.737.8782

Or go to the directory and look for a mortgage specialist in your area.