Does it make financial sense to refinance?

It’s no secret, the economy in Alberta is taking a bit of a hit with the oil and gas industry and unemployement at a high. People are looking to save money wherever they can, including their mortgages. Some homeowners may be wondering if it’s time to refinance their mortgages to take advantage of lower rates. There are many different reasons why you may want to refinance, or increase your existing mortgage: To consolidate high interest debt To pay for your child’s post-secondary tuition To make improvements on your home To purchase an investment/revenue property To purchase a vacation property or second home The reasons can…