Posts tagged ‘Fixed Rate’
Monday Interest Rate Review for August 16th 2010
If we were to take a general macro view of fixed mortgage rates in Canada one can say that when the markets (i.e. TSX, DOW etc) are strong there is upwards pressure on fixed rate mortgages and the opposite is also true so that when the markets are weak there is downwards pressure on fixed [...]
Monday Mortgage Minute for August 9th, 2010
Mortgage interest rates are back down. Way down. I am back from my road trip out West and ready for action. Picking up sound bites from different headlines in the news it looks like the complexion of our Canadian housing market looks just a little bit grayer. With headlines such as “CREA lowers home sales [...]
Monday Mortgage Minute – Interest Rates July 5th 2010
All signs are pointing to lower fixed rate mortgages again for the 3rd time this year. Bond yields are low and as a result we are seeing fixed rate mortgage prices dropping just a little bit further this week. The Bank of Canada has also dropped its benchmark qualifying rate for high ratio mortgages by [...]
Monday Mortgage Minute- Toronto June 21st
It looks like the fixed mortgage rate market has stabilized after the bank of Canada’s decision to increase the prime rate earlier this month. While rates aren’t as low as earlier this year, mortgage interest rates still remain low historically speaking. With signs that the housing market is cooling and interest rates are staying low [...]
Monday Mortgage Minute June 7th 2010
Following the Bank of Canada’s interest rate announcement last Tuesday we weren’t too sure in which direction the fixed rate market would move. Mortgage lenders responded by lowering their fixed rate mortgage rates. They also increased the spread on the 5 year variable rate mortgage from P-0.50 to P-.60 giving an effective rate of 1.90% [...]
Monday Mortgage Interest Rate Minute May 10th
2.65% – 1 Year Fixed 3.85% – 3 Year Fixed 4.35% – 5 Year Fixed 3.25% – Merix 50/50 Mortgage (Fixed/Variable hybrid) P-.40 3 Year Variable P-.50 5 Year Variable NOTE: Rates are subject to change without warning at the lender’s discretion.
Monday Mortgage Minute May 3rd 2010
Mortgage interest rates continue to climb for the 4th week in a row. There is a lot of discussion between observers and economists who think that the banks are prematurely driving rates up as highlighted in Rob Carrick’s Globe & Mail article, “Are Big Banks Jumping the Gun?”. With each passing week the variable option [...]
Toronto Monday Mortgage Minute April 26th 2010
After a very quick increase to fixed rate mortgages over the past 2 weeks mortgage lenders have started to compete for the new fixed 5 year. The standard rate is 4.59% however some lenders have introduced their quickclose rate at 4.39%. The dilemma of deciding to go fixed over variable is on every borrower’s mind [...]
Monday Mortgage Minute & Interest Rates For April 19th
A combination of positive economic data, the high Canadian dollar and probably the most important factor, the end of RRSP season in mid March when lenders artificially kept rates low to attract business, has caused two increases to fixed rate mortgages over the past 10 days. The difference between current fixed rates (4.59%) and current [...]