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Rate Guarantee: Get The Best Mortgage Rate

8/9/2011

Shopping for a new home can be a stressful experience, but finding the right mortgage doesn't have to be complicated. In a recent Vision Critical survey commissioned by ING Direct, 71 per cent of Canadians indicated that rate was the most important factor when shopping for a mortgage.

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Many banks offer a rate hold, a commitment to mortgage applicants that guarantees their lowest rate for a set period of time-usually up to 90 days-before they fund their mortgage. A rate hold secures the best rate and protects you from an increase when you apply or get pre-approved for a mortgage. If the mortgage rate goes down, you automatically get the lowest rate.


In today's rising interest rate environment, a rate guarantee is an important item on your home buying checklist. Guaranteeing the best rate gives you peace of mind and helps you save money on one of the biggest purchases you'll ever make.


Source www.newscanada.com

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