5 year funds are available in the 3.04-3.29% range.10 year funds remain unchanged as low as 3.69%. This will make the 10 year monies more attractive for those desiring long term security. Variable rate mortgages are available as low as 2.60%.
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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 July 17, 2013.
-Cory Kline (Cory@ndlc.ca)
Mortgage Planning sinse 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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