Mortgagenomics Canada

INTRO: What really goes on when you pick up the phone, go online, or walk inside a bank and ask, "what's your best 5 year rate?" (or any other rate for that matter). If you haven't noticed by now, the answer to that question from your mortgage broker or banker has gotten very confusing and at times either misleading or simply mistakenly quoted. To be fair, there are many brokers and bankers who deliver the message correctly on their first go...but probably not without several disclaimers and underlying conditions. Now why is this? Why can't the answer be easy? How and why, could their possibly be 4 different quotes for the same 5 year fixed rate product WITH THE SAME LENDER? Why does the rate shopper have to provide several personal details so the broker or banker can determine the precise interest rate? The answer is simple, kinda. Todays lending environment and Canada's complex real estate market diversity from coast to coast has become a complicated web of risk manag