Best mortgage rates

The majority of people with mortgages maturing usually wait until the last two weeks prior to its maturity before dealing with their financial institution on establishing a new rate. They usually miss out on the benefit of a lower rate by doing so. As a mortgage usually represents the largest portion of the family debt, you should commence shopping or negotiating for a new rate FOUR months in advance. Once a rate has been secured, you then have the priviledge of waiting to see what happens over the next while. This almost acts like an insurance policy against rates. If rates rise, you have the security knowing you have locked in a rate already. If rates fall, you benefit by taking the lower rate.