Are you searching for the perfect place to settle down? Love the bustle of a big city? Are you fascinated by human diversity? Mississauga offers this and so much more. Bordering the Ontario River, Mississauga is a wealth of industry, community, education and festivities. The mesmerizing Mississauga architecture and wonderful tourist sights, alone, could captivate you for a lifetime. With so much to do and see, Mississauga is the perfect place for your adventuring soul.
To entice your appetite for culture, each year, Mississauga has a slew of diverse celebrations dedicated to the different populations of inhabitants in Ontario, including celebrations such as: the Mosaic Festival, the largest South Asian art festival in North America, the Viet Summerfest for Mississauga’s Vietnamese population, and the Canada Day celebration aimed towards Canadian natives. Imagine swimming in a sea of cultural diversity unmatched by any municipality of its parallel. Want to be a part of this? Look into buying a home in the marvelous Mississauga municipality! Mortgage rates in Mississauga have been at an historical low for about half a decade now, and there are an abundance of mortgage agents ready to help you find your perfect home!
Mississauga Mortgage Rates
Some of the lowest interest rates, for a 4 or 5 year closed loan, in Mississauga hover around 2.55%, with the prime rate being around 2.84%. This is almost 2% lower than the Canadian national prime rate average of 4.7%.
For those who are unfamiliar with the way mortgages work in Canada, here is what to expect: mortgage rates aren’t given for 30 year periods like they are in some other countries. Instead, a mortgage rate is given for a 1-5 year period after which you have to refinance at the new market rate. This reoccurs over the 25 year period given for your home loan repayment. That is why it is so imperative to jump on this great mortgage rate and get yourself into your dream home in Mississauga, Ontario.
Mississauga Mortgage Agents
While there are many brokers ready to serve you and your mortgage needs, not all brokers are created equal. Your broker should look for a financial plan that is right for you. Since you’ll be getting a loan which typically has to be renewed in 1-5 years, there are many avenues to explore. You should consider market fluctuations along with interest rates and other variables. You’ll also have to decide if a closed loan or an open loan is better for you. Your agent should be willing to explore all of these options with you.
With such great market rates, why wait? Find a place to call mortgage broker in Mississauga, today!