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Every day I have calls with the same question. "What is my best mortgage rate"? There is no doubt that it's an important question, however the answer is not always that simple.

The most important factor in determining a client's best mortgage rate

The most important factor in determining a client's rate is their credit history. The better the credit, the better the rate. Sounds simple however with so many choices on the market - variable rate mortgages, fixed rate mortgages. all with different terms and features, the best rate really comes down to the clients' plans and objectives. Another strategy is choosing rate and term based on external factors. Right now for example, the one-year term at 5.55% is a great option. The reason being is the mortgage term would come due in a US election year which is historically a lower interest rate environment. There are numerous other strategies to take advantage of mortgage rate cycles. The latter being just one. With all this to think about, it's critical you seek the advice of an experienced mortgage professional to help you through the myrid of choices and options. For a quick rate quote, go to build-a-mortgage on our home page and within 1 minute you will receive a rate. Of course, this does not replace a conversation to uncover your individual needs, but it's a good starting place.