Choosing a home is exciting. Finding the neighborhood, floorplan, and features that suit your needs and wishlist is a fun and rewarding process. But selecting a mortgage? Not so much. From sifting through technical jargon to choosing a broker, the mortgage-selection process can be as frustrating as it is confusing.

Fortunately, financial experts and economists exist and can provide guidance to those of us who aren’t well-versed in the complex world of mortgages and finance. (And occasionally, they even agree with one another.)

Now is one of those occasions. Writing for the Globe and Mail, Robert McLister reports that while most things in the economy remain uncertain, experts agree that in the near future, “rates remain on the upswing.”

That means that if you’re considering purchasing a home, you might be wise to make your move sooner rather than later. 

Given the current and expected state of the Canadian economy, McLister recommends locking in a five-year fixed-rate mortgage. Here’s why: “You can still snatch a five-year fixed mortgage near 3 percent. That’s right around the 10-year average and way below the long-term average. With more hikes on the radar, a five-year fixed that’s anywhere in the low threes is a gift.”

Writers for the website MoneyWise echo McLister’s advice, noting that “If you are shopping for a mortgage right now your best bet would be to lock into the best fixed rates while they’re still at such record lows. By securing a low rate today you could save yourselves thousands of dollars during the life of your mortgage.”

But what if today, you haven’t saved up enough for a down payment? Thankfully, at Meadowview Point, we can help! Through exclusive partnerships with great organizations like the CMHC, GenWorth Canada, Canada Guaranty, and the City of Saskatoon, we’re able to offer full down payment grants on these exceptional homes. In fact, most of the mortgages offered through our financial assistance programs are set to five-year terms. You can arrange an expert-preferred mortgage today and still receive a full down payment grant! Sound too good to be true?

Through these programs, we’ve already helped thousands of Canadians step out of the rental market and into homeownership. The only difference is that now, the benefits have doubled: full down payment grants, and on the style of mortgage that experts agree is the best deal in the market.

To find out if you qualify, reach out to our team of financial experts today by calling us at (306) 974-1501. We’ll help you get pre-approved, put together a financial plan, and choose the home, floorplan, and features that are right for you!