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Cory Kline, AMP - Mortgage Agent
Cory Kline, AMP
Mortgage Agent
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Corys Market Update...April 7,2011

Updated Thursday, April 7, 2011
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A Mortgage rate increase has happened over the last few days. Fixed rates moved up by 20-30 basis points. We still have a few lenders who have not moved yet, but fully expect to lose them any day now. 5 year fixed mortgages are now in the 4.2-4.3% range. There were no changes in the pricing on variable rate mortgages. This has increased the spread to approximately 2% (almost double) between the 2 products.

At this time there is no change expected in the Bank of Canada rate until after our Federal election.

If you have a variable rate of any more than prime,  prime + or a fixed rate of 5.0% 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.

These low rates are still close to historical lows, making now a great time to buy or refinance.    

Bank prime is at 3.00%

The next meeting of the Bank of Canada is on April 12th, 2011

P.S. If you, your family, or co-workers require guidance on current market trends, please call us, we are always available to help.

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