Thursday, 18 April 2024
By Mortgage Outlet
Leah Zlatkin quoted by BNN Bloomberg: “Getting the lowest mortgage rates in a high interest rate world”
Borrowers need to be wary of what seems like too great a rate, said Leah Zlatkin, mortgage broker and LowestRates.ca expert.
“There’s certain mortgages out there that are very specialized products that offer you insanely low rates, but you have to sell the property or die to get out of that mortgage.”
Some lenders have mandatory default insurance, or will only hold a rate for a limited time, or have high fees if you want to break the mortgage early.
“If you don’t truly understand why you’re getting a low rate, or why that rate is so much lower than everybody else’s, well, then you should really be asking those questions,” she said.
