Mortgage Renewal in Manitoba

If history holds true, nearly 50% of homeowners this year will sign off on their mortgage renewal in Manitoba with their existing bank (the one that holds the mortgage) at posted mortgage rates. Posted mortgage rates can be as much as 1.75% over the wholesale (Today's Best Mortgage Rates in Manitoba) you see here with Verico Mortgage; that is a significant amount of money over the term of a mortgage. When you put that into dollars, a client would pay over $15,000 in additional interest over a 5 year term on a $200,000 mortgage ($250/month). One simple call to Verico Mortgage could save you over $15,000.

It is no secret that the banks make most of their mortgage profits at the time of mortgage renewal here in Manitoba; it is also no secret how they do it:

In the past, banks used to mail out renewal notices 3 to 4 months before their clients mortgage came due. They realized however that by mailing the client their mortgage renewal here in Manitoba just days before the mortgage comes due as opposed to months before, that the client wouldn't have time to shop around or consider their options. The client would simply sign their mortgage renewal and send it back into their bank; at posted rates.

When you work with us, our Manitoba mortgage brokers will help you avoid this trap; we will not only get you the best Manitoba mortgage rates this time, we will get you the best mortgage rate every time. If you have a mortgage renewal in Manitoba coming up, please contact us today; don't wait until you become another posted rate statistic.

Manitoba Mortgage Brokers