Agent Blogs
Cory's Market Update...
The bond rate has inched upwards the past 7 days. There has been no changes in fixed or variable rate mortgages. We are seeing 5 year mortgages in the 3.19-3.39% range, 10 year mortgages are still being offered at 3.89% and variable rate mortgages as low as prime -.2%. If you have a variable rate of any more than prime +.75 or a fixed rate of 4.25% or more, we should explore the merits of refinancing to a lower rate. Contact us for a free, no obligation review. Spending a few minutes could save you thousands of dollars. Bank prime is at 3.00%
We are continuing to hear and read more and more rumors of pending changes in mortgage legislation. None of these speculations contain any good news for the individual consumer. The past three government changes have all started with these type of rumors. For now, we have to wait and see what if anything will happen.
The next meeting of the Bank of Canada is on March 8, 2012.
