We started off this morning with the lowering of the fixed 5 year special offered by mortgage lender Merix Financial leading all the lenders down. The “quickclose” special is now at 3.69% for a fixed 5 year rate. The only condition is that the mortgage must close by March 26th 2010. Other than that this [...]

Toronto mortgage interest rates have taken a definite U turn from the direction predicted by economists at the beginning of the year. It looks like low interest rates may be here to stay for a while longer. I can currently offer a 5 year fixed at an unprecedented low rate of 3.75% subject to lender [...]

There is no such thing as a silly question. Especially when it comes to your mortgage and money! As a mortgage broker I sit down and work with a lot of borrowers, some have a very high level of financial literacy and others never had the opportunity or need to learn.  Arranging a mortgage on [...]

Mortgage interest rates have remained unchanged from last week. Although some lenders have increased their rates, the majority have opted not to buy into the hype created by the markets and held off on increasing rates this week. While lenders are still warning us of immanent rate increases nothing will budge until it is clear [...]

Toronto Mortgage interest rates for the week of December 21st. Interesting to note that during a week that is traditionally calm in the markets there was another rise to the 5 year bond yield. I’ll keep an eye on further developments during the week to see how fixed rates will be effected.
1 year fixed – [...]

Most mortgage borrowers don’t realize that their mortgage lender options are much broader than the Big 5 Banks.  There is an entire market of lenders who are, in many cases, more competitive than the banks when it comes to mortgage interest rates, have a wider selection of products and have excellent costumer service.
One of my [...]

Very few changes this week to mortgage interest rates in Toronto.
1 year fixed – 2.60%
3 year fixed – 3.40%
5 year fixed – 3.99%
3 year variable – Prime-.10% (2.15% effective rate)
5 year variable – Prime-.10% (2.15% effective rate)
RATE SPECIALS
5 year fixed – 3.89%

3 year variable Prime-.25% (2.00% effective rate closing in 30 days, purchases & refinance [...]

Merix financial has just announced this afternoon that they have decreased their mortgage rates. Further to my post earlier this week regarding the Merix 50/50 mortgage the new rate works out to be 3.07%!
3.99% for the 5 Year Fixed portion
Prime – .10% for the 5 Year ARM portion
Weighted average rate: 3.07%
Get your applications in to [...]

Not sure whether you want to take the full risk of selecting a variable rate mortgage in Toronto with an imminent rise in the prime rate on the horrizon over the next 24 months? Why not consider an innovative product offered by Canadian mortgage lender Merix Financial. The 50/50 mortgage.
The Merix 50/50 Wise Mortgage is [...]

Shortly after recording my Monday Market Minute… I received an e-mail from Merix Financial offering an exclusive group of Toronto mortgage brokers a deeply discounted fixed 5 year rate.
5 year fixed rate mortgage 3.89%!
Call or e-mail me today so I can get you this excellent rate.
Christopher Molder – Son Of A Broker