Last week saw the addition of a new feature to the mortgagebrokernews.ca site - a forum function that allows those in the mortgage industry to discuss current topics and share ideas live
The forum brings a networking and discussion element to the new site, which focuses on mortgage industry news. For example, a posting on fixed rate versus variable rate mortgages sparked a lively debate over the advantages and disadvantages of each in the current economy.
A post from Brian read, "Today's fixed rate, five-year term mortgages are lower than ever I believe in the mortgage brokerage business history. Jump on it!" Michelle responded, "Providing the client is risk adverse, the variable is definitely the way to go, provided you take advantage of the rate. I advise my clients to increase their bi-weekly payments to match or beat the payments they would have made had they gone fixed. When we crunch the numbers, there's about a $14,000 savings."
Forum users can also post their own topics to get feedback from others in the industry.
The comments section of the Web site will still be available and these comments can also be turned into forum topics.