Reducing Monthly Living Expense in Uncertain Times

In an uncertain financial climate, all of us are looking for ways to cut our monthly expenses. One of the single largest monthly expenses for many Albertans is the cost of monthly mortgage payments. With the Global Recession now appearing to be deeper and more prolonged than previously forecasted, an opportunity to reduce monthly living expenses for many Albertans appears to now be on the horizon. Variable rate mortgages are currently sitting at historical lows, and coupled with 35 year amortizations --homeowners can see reductions in monthly mortgage payments of hundreds of dollars.

One question many homeowners have is "how long will the benefits of a variable rate mortgage last?" While lower payments today are great, many homeowners worry about the days ahead when the World Economy finally does recover and interest rates accordingly rise --meaning their monthly payment on their variable rate mortgage rises. One excellent feature of most Variable Rate Mortgages is that they allow for homeowners to convert their existing variable rate mortgage into a mortgage with a fixed mortgage interest rate at any time, at no cost.

While interest rates are low today take advantage of the tremendous savings potential offered in these markets, and converting into a fixed rate mortgage when you feel that the available interest rate is suitable.

to find out how much you could save by switching from a Fixed Rate Mortgage to a Variable Rate Mortgage, call one of the qualified mortgage professionals at Alberta Mortgage today @ 780-479-2222 or visit www.albertamortgagecentre.com.