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The Accredited Mortgage Professionals Donna Mullen & Associates, are committed to educating you about your financing options.

Bank On Brokers

In an ever competitive market place where Banks are struggling to maintain and grow their profit margins several articles have been written in the past few weeks in newspapers about mortgage brokers. These articles help to explain the differences, focus on the "expert advice" of mortgage brokers and reinforce why the consumer should "Bank on Brokers."

Mar. 30, 2011: National Post "Experts best at brokering mortgage"
"The reason more people don't know about mortgage brokers is because the banks are so visible. It's easy to gravitate to them when you have your savings accounts, credit cards and investments there already. Going for the comfort factor could cost you however. 'A broker has access to different lenders including banks, and can shop rates and features. A half percent may not sound like much but that could make a difference of about $20,000 for a $250,000 mortgage amortized over 25 years.'" To read the full article from the National Post click on this link.

April 7, 2011: Globe and Mail "Beware sales pitch behind bank's advice"
"Whatever your bank recommends you buy or do, ask for hard numbers to document any advantage to you. Then, ask to have the same analysis applied to alternative approaches. When you're done talking, go home and do your own research. Be sure the rates your bank is offering for both savings and borrowing are competitive." Read the full article by following this link.

25 Year Historical Rate Summary

SEPTEMBER 8, 2010: While the Bank of Canada announced another 25 basis point increase to put the key rate to 1% this morning (see, Canadians are still enjoying some of the best rates when it comes to mortgage financing. Check out the 25 year historical summary of fixed and variable rates - compliments of one of the lenders we work with - and then call Your Mortgage Store to get an expert opinion on what is the right option for you.

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