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 [...]

The problems over seas in Europe are already hitting close to home as bond yields have dipped for the last couple of days indicating that investor confidence is shaken. This bodes well for borrowers looking to get into fixed rate mortgages as there may be a reversal to the sharp steady increases to fixed rate [...]

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 [...]

Merix is leading the way down with their 3 year variable rate mortgage. They announced yesterday evening that they are now offering Prime minus 0.50 which currently gives the borrower an effective rate of 1.75%! We are now back down to the same variable rate spreads that we saw pre-financial crisis fall 2008. The rate [...]

Bond yields are up which would typically result in an increase to fixed rate mortgages however lenders are artificially keeping rates low in order to gain market share. This is good for borrowers currently in the market however don’t expect the low fixed rates to stay around forever as it only takes one bank to [...]

Although bond yields rose last Friday as of Monday March 8th Toronto Mortgage Interest rates remain unchanged. Over the weekend some lenders have warned of the possibility of fixed rate mortgages increasing. This weekend I decided to deliver my Monday Mortgage Minute from the slopes of Mont Tremblant Quebec, however I am back in the [...]

To start the month, there is a new variable rate mortgage! I can now offer Prime minus 40 (1.85%) on 3 year variable mortgages. It was also announced after I recorded my video, that the 5 year fixed rate special that I was offering at 3.69% has been extended for closings up until April 26th. [...]

Again Merix Financial is the first “kid on the block” to introduce a new variable rate. Fresh off the press Merix is now offering P-.40 on their 3 year variable rate mortgages! The effective mortgage interest rate is currently (2.25-0.40) = 1.85%. The mortgage is available for 90 days and is available to purchasers who [...]

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 [...]

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 [...]