Most of us are familiar with the concepts of fixed and variable rate mortgages.  A hybrid mortgage combines the features of both.

For example you might see a hybrid mortgage that is made up of:
60% – 3 year fixed rate
40% – 3 year variable rate

As interest rates rise, buyers might off-set their risk by choosing a hybrid mortgage.  Some experts predict that hybrid mortgages may be more popular in coming years, but at this point in time, there are not many lenders offering them, which ultimately means you do not have as much flexibility in choice.

As always, if you have any questions about getting a mortgage, or about renewing or refinancing give us a call at 604-736-1855.

This entry was posted on Friday, May 14th, 2010 at 4:54 pm and is filed under General Info, Mortage Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.