Bond rates inched up the past week, resulting in a few lender's raising their fixed rates by 5 basis points. We have 5 year terms available in the 2.98% range and 10 year terms from 3.79%. Variable rates are as low as 2.65%.
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If you have a variable rate of any more than prime +.75 or a fixed rate of 3.75% or more, we should explore the merits of refinancing to a lower rate. It may result in savings of thousands of dollars and a longer term at today's record low rates.
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 January 23, 2013.
-Cory Kline (705-794-1283 or cory@ndlc.ca)
Mortgage Planning since 1998
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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