Jan Graham Remax First
115, 8820 Blackfoot Trail SE T2J 3J1 Calgary, AB, Canada

Fantastic new listing in Sunset Ridge of Cochrane! Showhome - beautifully decorated - full walkout basement - south back yard, backing onto a green space. Loaded with upgrades! Its a "must see" home

These stunning homes are moving fast ! Worth checking out

New to the Market

Price Reduction

You may have heard about the unprecedented low interest rates HSBC is advertising as of yesterday. See the email below from my mortgage broker, explaining the pitfalls. another good reason to deal with a mortgage broker for your new home purchase. A bank will boast about the "pros" of their offer.....a mortgage broker will analyze the pros as well as the "cons", and advise you accordingly. Please read the following ... If you have not heard by now, HSBC has come out with... some crazy low rates today. These rates came out of nowhere and definitely, have set the new low for mortgage rates in Canada. The head of HSBC in Canada has admitted that this is not an area where they are going to be making money off of these mortgages themselves. But they will use them as the anchor and push to get people into the other products where they will make their money. I can imagine that there will be a very heavy reliance on getting people to take life and disability insurance when they get these mortgages. I really don't have anything bad to say about the variable. At prime -1.46%, the mortgage has a rate of 0.99% and variables only have a 3-months interest penalty. It would only take an increase of .75 to prime and the client would be over what they could lock into today. So there is a risk. I would still caution against anybody taking a fixed-rate mortgage with them. I did some rough calculations this morning and the penalties ranged from 6.4-9.5 times higher than other lenders. As always we promote long-term financial stability vs the shiny penny. So the big reason we wanted to get a message out to you is that you will have lots of buyers that will want to take advantage of these rates. Can't blame them when it will be all over the news and the only thing talked about. The reality is much different than just the rate. HSBC is best known for not having the best service when it comes to underwriting. When they are working at their best I have known them to struggle with a 2-week condition date. When they come out with their crazy specials, this turnaround changes to 4-6 weeks for approval. With rates like these, you can count on 4-6 weeks as being the best-case scenario. Not sure how many sellers are going to be willing to give that long. In the end, our number one job as brokers is to get the deal approved and waive financing as quickly as possible. Sometimes that means 48 hrs and sometimes it takes us the full 5-10 business days. I've told many buyers that a bank can offer 1% for a mortgage rate but if they can't get you the mortgage, is the rate as good as it sounds. This will 100% be the case with what we are dealing with now.