Capital Mortgages Inc is an independent brokerage in the Mortgage Centre Canada Network and one of Ontario’s leading real estate mortgage brokerages with offices in Ottawa and the valley.

A Quick Discussion on Interest Rates

Is the interest rate a major factor in any mortgage-making decision?  Absolutely.

Is the interest rate the only thing that matters when choosing a mortgage? I don’t believe so.


The (un)importance of rates

Just as the ‘price’ of your next major purchase – say a car – is a very significant factor, it is not the only factor that you are going to consider.  And perhaps it won’t even be the main factor. Shopping for a mortgage is no different.

I believe the final decision in choosing a mortgage is a balance of competitive price, affordable payments, and the flexibility to meet your individual needs.

I’m sure you’ve seen mortgage rates posted online, heard them on the radio, or discussed them with friends and listened to their experiences.  However, you can’t know every single detail that contributed to that “great rate that my mortgage person got me”. Some of those rates have terms and conditions that you may not meet.  They may be for limited time frames. They may not apply to all property types. They may only apply to a certain loan to value – for example, is the down payment less than 20% or more than 20%?  All these factors will affect the rate. The list goes on and on. Like anything else, you need to find out what is behind the price.


What next?  

Who has the best rate?  What are their credit rules? What can I afford?  The list of questions may seem endless. And they all matter.

The point I am trying to make is this: Any one of a number of factors could play such an important part in the decision as to override simply what product has the best rate.  At Capital Mortgages, our goal is to obtain the most current competitive price available for you while ensuring affordability and flexibility for you down the road.


We work for you

Acting with your best interest in mind is what the Brokers and Agents at Capital Mortgages are all about.  And sometimes that means not only going for whichever lender has the best rate. It is about doing the research for you,  providing you options, and making sure that the mortgage meets your individual needs. It is about making sure that a small rate advantage upfront does not turn out to cost you thousands in the end. That is why our experienced team at Capital Mortgages will always help you find a mortgage with your best interests in mind.

Yes, rate is important — but it is not the only thing to consider.


Five out of Five Stars!

When my husband and I fell in love with a cottage in 2010, we were first-time buyers, self-employed, and terrified. In that state I contacted Donna Mahoney, explaining that with our complete lack of experience we needed someone to hold our hand every step of the way, and was she willing to do that?

Without any hesitation, Donna took us on, guiding us through the many steps we needed to take, encouraging us, patiently answering all our questions, standing by us until that wonderful day when our dream became reality and we owned our own place on our own land. Five years later it was time for us to take the next step: after decades of renting in town, we would try to find a house we could afford in the part of town we wanted to live in.

Still self-employed, which always makes purchasing a home more challenging, I unhesitatingly contacted Donna. Within minutes of my email to her, Donna wrote back asking the relevant preparatory questions and helping us get ready to put in an offer.

With her typical calm, professional way of doing things, she helped us prepare documents, patiently doing and re-doing the math with us, finding the best terms, the best mortgage rates, and working against time because we had the additional stress of having to meet our seller’s very tight deadline.

We moved into the perfect house in July 2015. Looking back today, I know we could never have managed these two huge challenges without Donna’s expertise and moral support. And on top of all that, we seem to have a better mortgage rate for each of our properties than anyone else I’ve ever spoken to! Five out of five stars for Donna Mahoney!!

Margaret L.