Not shopping around puts future homebuyers, and existing owners, at risk of spending thousands more per year than they need to. In extreme cases, not shopping around for a better rate could even cost someone their home.In fact, nearly two-thirds have swapped their main grocery store for one with lower prices in the past year, according to afrom Dalhousie University’s Agri-Food Analytics Lab.
“If you wait too long to get a second opinion, there might be a bunch of costs incurred to switch that you weren’t planning on,” says Leduc. For example, you may get a lower rate with a 10% downpayment than you would by putting up 20%, but you’ll pay more in the long run. The lower downpayment requires CMHC insurance, and you’ll be on the hook for more interest over a longer amortization period.Borrowers today have access to unprecedented tools, and they should take advantage of them. Take AI, for example — which is a tool Perch leans into.
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