The first step in the home buying process is to get ‘pre-approved’ for a mortgage. This will determine the price range that will suit your income and lifestyle, and will make sure that things run smoothly when you find the property you are looking for. I can’t stress enough, the importance of finding a good mortgage broker. Most people will just go directly to their bank, but I find it is always valuable to shop and compare the rates offered by a few different lenders. As our market is constantly changing, it is a good idea to keep up with the current rates being offered. Right now, as of September 12, 2006, the current variable rate is 5.15% and the current prime rate is 6.0%. If you should have any questions regarding pre-approval, mortgages in general or current interest rates, please contact my friend Angela Calla, or send me an email via the contact link on the right side of this page.