The Drive Mortgage Store 
a place where you can meet with a mortgage broker in person, have a coffee, ask questions, get the answers you need and sign your papers!
Complimentary Info Sessions
Find out the ins and outs of mortgage life insurance 
October 21, 2014
Buying Your First Home?    
You will learn about what's on the market, how much properties are worth, your financing options and the documents you will need to supply
November 20, 2014
More upcoming Events!
 Click here for Events Calendar
Mortgage Rates

Effective Oct. 1, 2014
TERM
BEST RATE
1 Yr Closed*2.89%
2 Yr Closed*2.59%
3 Yr Closed*2.79%
4 Yr Closed*2.77%
5 Yr Closed*2.89%
7 Yr Closed*3.79%
10 Yr Closed*4.29%


Prime Rate: 3.00%
Variable @ Prime less 0.60%
HELOC - Prime plus .25%
Bench Mark Rate: 4.79%
*
indicates promotional/quick close rate
Bank of Canada
*Eight times a year, the Bank announces its decision on the setting of its key policy interest rate.
~2014~
October 22                   December 3

~2015~
January 21                   March 4
April 15                          May 27
July 15                           September 9
October 21                    December 2
The Age old question...

FIXED vs VARIABLE mortgages  

  

Today's borrowers are inundated with so many mortgage choices that it can make it tough to choose the right strategy. Short term rates (anything less than 3 yrs, including the variables) are very attractive because the rates sound lower. If the Bank of Canada were to increase the rate by even a quarter point, which is what they do when they make an adjustment, the rates would be very close to what is being offered for lock in rates today.

The experts have been saying for the last 5 yrs that rates will be going up next year. The false alarms for locking in have been going off regularly and one must wonder if there is in fact a threat of rate increases, or is it just wishful thinking on the part of those that shape rate policies.

 

A coin toss may have as much wisdom as listening to the experts.

 

Call me so we can talk about your future,

Laura Stein
The Drive Mortgage Store
Dominion Lending Centres - Mortgage Negotiators
604-657-6535
Mortgage Tip of the Week
Pay your variable as if you're fixed at a higher payment. All extra goes directly to your principle 
Looking for a Mortgage?
Mortgage Strategy - fixed or variable
 Fixed vs Variable

 

Long term fixed rates are determined by the bond market. When investors feel good and  

are willing to take on more risk, fixed rates will go up. When investors are concerned and they move into the safety of bonds, rates will come down.


Variable mortgage rates are determined by the Bank of Canada who meets eight times a year to determine the direction of short term rates. The catalyst for an increase in rates is...

 CLICK HERE for BLOG
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About our team
After 22 years as a mortgage broker Laura opened up The Drive Mortgage Store on the eclectic Commercial Drive in Vancouver, BC. Her mission was to allow her clients a chance to meet face to face and ask questions in a more intimate setting. She has since added a small, dedicated staff including a Real Estate Agent, other brokers and a social media & event coordinator. Our team is devoted to ensuring that your best interests are our top priority. We invite to come on in and see what's in store for your next mortgage.
 
 

Laura Stein is amazing at what she does. She has helped me buy 2 homes so far and I would highly recommend all of my friends to call her when buying a home.
The Drive Mortgage Store
604-258-8897
1250 Commercial Drive
Vancouver, BC

Help us help you find your home.