Hi all!
Just wanted some feedback and opinions:
I am aware that there changes pending for April 19, 2010 for mortgage rules, as well, am aware of the recent mortgage rates hike by TD bank and Royal Bank two days ago.
I am thinking that now would be a good time to get a preapproved mortgage for 120 days- with a variable mortgage.
I was banking on this time- before April 19 so I can be approved for more, and I can wait out a bit longer until the housing bubble pops a bit- forecasting 2 months into the interest rate hikes. That would put my 120 days into mid-July.
Do you think I should have gotten a preapproved mortgage in March instead? That would put me into mid-June with the end of the interest rate guarantee.
What do you think?
Just wanted some feedback and opinions:
I am aware that there changes pending for April 19, 2010 for mortgage rules, as well, am aware of the recent mortgage rates hike by TD bank and Royal Bank two days ago.
I am thinking that now would be a good time to get a preapproved mortgage for 120 days- with a variable mortgage.
I was banking on this time- before April 19 so I can be approved for more, and I can wait out a bit longer until the housing bubble pops a bit- forecasting 2 months into the interest rate hikes. That would put my 120 days into mid-July.
Do you think I should have gotten a preapproved mortgage in March instead? That would put me into mid-June with the end of the interest rate guarantee.
What do you think?