Agent Blogs
Cory Kline, AMP
Mortgage Agent
Cory's Mortgage Market Comment
Updated Thursday, June 7, 2012
Views (6674)
On Tuesday, the Bank of Canada announced "no changes" with Bank Prime remaining at 3%
Continued European uncertainty lead the bond rate to a new low for 2012. Most of of our lenders have followed the market and we have seen a downward adjustment in fixed rates. Five year money is currently in the 3.14%-3.19% range.
Keep in mind we still have 2 lenders offering 10 year funds at 3.89%. A wonderful option for those concerned with future rates.
If you have a variable rate of any more than prime +.75 or a fixed rate of 4.0% 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 3.00%
The next meeting of the Bank of Canada is on July 18th, 2012.
-Cory Kline (Neighbourhood Dominion Lending Centres, cory@ndlc.ca or 705-794-1283)
P.S. If you, your family, or co-workers require guidance on current market trends, please call us, we are always available to help.
