One key difference between mortgage brokers and your bank is that we do not work with posted rates. All lenders we work with only offer the best discounted rates through the broker channel. This means you will get better renewal rates, lower payout penalties (IRD), and usually greater prepayment privileges.
Two excellent rate deal came out Friday which includes a 5 year fixed at 4.09%, and a 3 year variable at P+.15% or 2.40%!! You will not go wrong either way. Have a great weekend - cheers.
Another major advantage of mortgage brokers is the numerous options we have. We find a lender to match your unique needs and have a much greater chance of approval. 5 Year ARM now available at 2.55%. Cheers!