Sherwood Park, Canada (PressExposure) July 07, 2011 -- Edmonton mortgage brokers have announced that they remain positive about the mortgage market in the country, despite the gloomy picture painted by newspapers all over the world. While house prices have increased the world over, prices in Edmonton and Calgary have remained constant.
"We're living in historic times. Interest rates throughout the country have remained low for the past three years. Even as the Central Bank has been suggesting an impending increase in the interest rates, the increase is likely to be minimal. In fact in a study undertaken by the global mortgage insurer Genworth, has estimated that Canadians remain positive about the economy and the housing market. This is in sharp contrast to borrowers across the world who weren't quite upbeat about the said changes," says the spokesperson for TMG, a firm of mortgage brokers in Edmonton. The firm has been in the business of helping Edmonton residents to find refinance options, pre-approved loans, and renewals at affordable rates.
For a market to spiral downwards there needs to be a presence of two factors; an increase in interest rates and a high-risk mortgage market that is sensitive to changes. It is highly unlikely that there will be an increase in interest rates as The Bank of Canada holds the inflation rate very tightly. The second factor also seems unlikely because unlike its neighbor, Canada has always been vigilant to be not influenced by huge changes.
"As earlier said, there's likely to be a correction with slight changes in the interest rates. But these are likely to minimal and not bother investors looking for long term investment options," adds the spokesperson.
The key is to however find a good mortgage broker in Edmonton who can help you navigate the marketplace and find the best rates from the best lenders. It also helps to find a mortgage broker who can find a bank that offers the best products.
"At TMG, we strive to find the best deals for people and try and get the job done as quickly as possible. Irrespective of the fact that you're looking for purchase, refinance or switch, we can help you find the right bank," adds the spokesperson.
About TMG: The group comprises of the best mortgage specialists who can help you get the best mortgage rates and suitable home loan packages.
To know more, http://edmontonmortgagebrokers.org/