Agent Blogs
Cory's Mortgage Market Comment...
Bonds have spiked up the past few days by 15 basis points. We fully expect to see most lenders increase fixed rates by nominal amounts. The increase has been caused by stronger U.S. data, and a lack of recent turmoil in the European markets. We fully expect to continue an up and down response to Global economic conditions.
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 September 5th, 2012.
2 year fixed: 2.49%
3 year fixed: 2.69%
5 year fixed: 3.09%
10 year fixed: 3.89%
5% cash back for down payment: 4.73%
(Rates are subject to change with current market conditions, and E.&O., and O.A.C)
Have a great weekend!
-Cory Kline (Mortgage Advisor at Neighbourhood DLC, Cory@ndlc.ca or 705-794-1283 or stop in at our office 39 Collier Street Suite 300)
