Saskatoon Real Estate News May 16, 2014

The cost of owning a home just became a bit more affordable

Deciding whether or not to buy a home in Saskatoon? This might just push you over the fence.

Investors Group just released what is believed to be the lowest rate offered on a variable rate loan, offering a mortgage interest rate of 1.99%.
The company is offering 1.01 percentage points off its prime rate of 3% for a variable rate mortgage. Qualified applicants can nab this deal for a 36 month term.

The offer isn’t available to mortgage brokers but is available from the company directly. It’s intention is to secure a larger share in the marketplace and draw in new clientele.

This deal is available for a limited, undisclosed amount of time and does come with a few conditions. Most notably, you are unable to break the mortgage unless you sell your home. It does however allow a person to double up monthly payments and pay a lump sum of 15% of the mortgage every year without penalty.

What does this mean for consumers? Lower rates mean that affording a home in Saskatoon might just be that much easier. If you are considering buying a home in Saskatoon, contact me and I’d be glad to assist you through the process.

Kari Calder

Saskatoon real estate agent

Century 21 Fusion