111: Ask A Broker 004: Should Your Clients Go Variable or Fixed?

2016-05-13

An average of 60% of mortgages are broken in an average of 38 months into the mortgage, triggering a penalty of 4.5%. 5-year fixed mortgages as safe? How does a hot market fit into porting a mortgage? Penalties for variable or 2-year fixed are 9x lower than those in a 5-year fixed. Where are rates going, anyway? But what about the lower commission on that 2-year fixed file? Why you should tell your client your commission on the file, regardless of FICOM rules. Are you a broker or an order...

An average of 60% of mortgages are broken in an average of 38 months into the mortgage, triggering a penalty of 4.5%.

5-year fixed mortgages as safe?

How does a hot market fit into porting a mortgage?

Penalties for variable or 2-year fixed are 9x lower than those in a 5-year fixed.

Where are rates going, anyway?

But what about the lower commission on that 2-year fixed file?

Why you should tell your client your commission on the file, regardless of FICOM rules.

Are you a broker or an order taker?

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