Son Of A Broker » merix 50/50

Monday Mortgage Minute- Toronto June 21st

chris — Tue, 22 Jun 2010 01:41:04 +0000

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 you have decided that now is the time to buy your first home. But what is the first step? Unless you are lucky enough to have the cash available to purchase without financing you should talk to a mortgage broker before you even talk to a real estate agent or search on MLS. By sitting down with a mortgage professional you can eliminate uncertainty and save yourself a lot of time when searching for a home. In many cases it takes only a 10 minute conversation to get assessed. You’ll be able to set a realistic price range and become aware of any potential pitfalls that could arise when satisfying conditions for the lender. Visit my website www.TridacMortgages.com to submit a quick & secure online application or send me an e-mail if you have any questions?

Chris Molder – Son Of A Broker

2.80% – 1 Year Fixed

3.75% – 3 Year Fixed

4.25% – 5 Year Fixed

3.13% – Merix 50/50 Mortgage (Fixed/Variable hybrid)

P-.65 3 Year Variable

P-.60 5 Year Variable

Prime Rate is currently 2.50%.

NOTE: Rates are subject to change without warning at the lender’s discretion.

Click here to view the embedded video.

Monday Mortgage Minute June 14th- Interest Rates

chris — Mon, 14 Jun 2010 23:26:01 +0000

World Cup fever is on in Toronto and mortgage interest rates are remaining low and stable. While a variable rate mortgage may not fit everyone’s needs it remains a good option in today’s market. Give me a call to discuss whether it is right for you?

Chris Molder – Son Of A Broker 416.461.0204

2.80% – 1 Year Fixed

3.75% – 3 Year Fixed

4.25% – 5 Year Fixed

3.13% – Merix 50/50 Mortgage (Fixed/Variable hybrid)

P-.65 3 Year Variable

P-.60 5 Year Variable

Prime Rate is currently 2.50%.

NOTE: Rates are subject to change without warning at the lender’s discretion.

Click here to view the embedded video.

Monday Mortgage Minute June 7th 2010

chris — Mon, 07 Jun 2010 20:02:36 +0000

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% based on the new prime rate of 2.50%. If you are just entering the interest rate market because you are considering buying or your mortgage is coming up for renewal it may not be obvious whether to go fixed or variable in this market. The circumstances are individuals are unique and there is a mortgage solution to suit your circumstances give me a call to discuss. 416.461.0204ext2

Chris Molder – Son Of A Broker

2.80% – 1 Year Fixed

3.75% – 3 Year Fixed

4.25% – 5 Year Fixed

3.10% – Merix 50/50 Mortgage (Fixed/Variable hybrid)

P-.50 3 Year Variable

P-.60 5 Year Variable

Prime Rate is currently 2.50%.

NOTE: Rates are subject to change without warning at the lender’s discretion.

Click here to view the embedded video.

Monday Mortgage Minute – Toronto Interest Rates May 24th

chris — Wed, 26 May 2010 01:25:31 +0000

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.

Click here to view the embedded video.

Monday Mortgage Minute May 3rd 2010

chris — Mon, 03 May 2010 16:28:42 +0000

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 looks better and better, the only draw back is if you require a high ratio mortgage you will need to qualify based on the Bank of Canada’s Qualifying Rate which is an astronomical 6.25%. Not only is the spread between fixed and variable almost 3% there are a lot of forces at play which may prevent the prime rate from increasing significantly over the coming months, inflation is down in Canada and the Greek crisis will have far reaching global effects.

Chris Molder -Son Of A Broker

2.65% – 1 Year Fixed

3.85% – 3 Year Fixed

4.64% – 5 Year Fixed

4.39% – 5 Year Fixed Quickclose (Must close before June 15th)

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.

Click here to view the embedded video.

Toronto Monday Mortgage Minute April 26th 2010

chris — Mon, 26 Apr 2010 19:11:40 +0000

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 these days. Over the weekend the Globe & Mail featured the following article “Possible Rise In Mortgage Rates Pitting Couples Against One Another” . The spread between fixed (4.59%) and variable (1.75%) is about 2.80% which is significant. We know that in the coming months the Bank of Canada will increase the Prime Rate but with the latest report from Statistics Canada indicating that inflation was down in March it is questionable how quickly the prime rate will move up. Variable is looking like the better option these days but if you can’t make up your mind there is always the Merix 50/50. (3.25%)

5 Year Fixed – 4.54%

Quickclose 5 Year Fixed – 4.39% (must close before June 15th 2010)

3 Year Fixed – 3.84%

1 Year Fixed – 2.65%

Merix 50/50 Hybrid – 3.25% (current effective rate)

3&5 Year Variable P-.50% (1.75% current effective rate)

Rates subject to change without notice.

Click here to view the embedded video.

Monday Mortgage Minute – February 1st 2010

chris — Tue, 02 Feb 2010 13:50:43 +0000

Mortgage interest rates have remained pretty stable over the last week and there are no signs of any changes to come. It looks as though the trend is downwards as the majority of lenders have begun to adjust their fixed 5 year rates to match the most competitive rates in the market. Given the economic outlook variable rate mortgages may be a good choice.

Chris Molder – Son Of A Broker

1 year fixed – 2.65%

3 year fixed – 3.50%

5 year fixed – 3.89%

3 year variable – Prime-.10% (2.15% effective rate)

5 year variable – Prime-.25% (2.00% effective rate)

RATE SPECIALS

5 year fixed – 3.75% (must close by Feb 23rd 2010, purchase & refinance only)

3 year variable Prime-.30% (1.95% effective rate closing in 30 days, purchases & refinance only)

NOTE: Rates are subject to change without warning at the lender’s discretion.

Click here to view the embedded video.

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