{"id":3120,"date":"2021-02-01T11:59:59","date_gmt":"2021-02-01T19:59:59","guid":{"rendered":"https:\/\/wiibid.com\/?p=3120"},"modified":"2021-02-19T06:44:45","modified_gmt":"2021-02-19T14:44:45","slug":"consider-a-private-mortgage","status":"publish","type":"post","link":"https:\/\/wiibid.com\/?p=3120","title":{"rendered":"Considering A Private Mortgage? Learn About Their Value!"},"content":{"rendered":"
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Trust me, I get it. Most folks tend to wait around for lower rates, a better deal, or a discounted price. I grew up in a household where waiting just a bit<\/em> longer was always the safest method when it came to purchasing just about anything. Nonetheless, in the context of mortgage hunting, it may not be as simple as shopping for a new pair of sneakers.<\/p>\n

A common challenge for those in shopping around the mortgage market is getting the timing right. We observe the market closely, and do our research, talk to our bankers and accountants, eventually hiring a mortgage broker in hopes that they\u2019ll help us get the keys at the best rate possible.<\/p>\n

According to Business in Vancouver (BIV)<\/a> 2020 may not have been the best time to shop for a mortgage after all, reporting that interest rates on new mortgages are increasing, despite Bank of Canada rate drop. Lenders started increasing rates & reducing variable-rate mortgage discounts on the prime rate. Hence, with most Canadian big banks such as TD, Scotiabank, and RBC, we would see little to no discounts at all.<\/p>\n