The past week has been uneventful in the bond market. No real movement one way or another. With the "rate wars" over for the moment, lender's have increased their 5 year fixed rates. Most lender's have 5 yr fixed in the 3.29-3.59% range.
We still have 2 lenders offering 10 year funds at 3.89%. A wonderful option for those concerned with future rate. My team would be happy to hold this rate for you for 120 days, if you are considering purchasing or refinancing.
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%
The next meeting of the Bank of Canada is on April 17th, 2012.