May 25, 2010
Monday Mortgage Minute – Toronto Interest Rates May 24th
I didn’t manage to get this post up yesterday it was way too nice of a day! As explained in past videos, fixed rate mortgages are dependent on bond yields. Over the past 2 weeks the yields have suffered as a result of the economic turmoil in Europe caused by the Greek crisis. Even positive economic data like increased inflation and record breaking retail sales in Canada weren’t enough to bolster interest rates. This of course is good news if you are buying or remortgaging. A recent article in the Toronto Star “Rate Hike Not Guaranteed“ by Emily Mathieu argues that the Bank of Canada may not have the ability to increase the prime rate on June 1st. If you are stumped on how to position your mortgage in these unique times get in touch with me.
Chris Molder – Son Of A Broker
2.85% – 1 Year Fixed
3.85% – 3 Year Fixed
4.35% – 5 Year Fixed
3.10% – Merix 50/50 Mortgage (Fixed/Variable hybrid)
P-.50 3 Year Variable
P-.50 5 Year Variable
NOTE: Rates are subject to change without warning at the lender’s discretion.
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