Last Friday, September 23rd, we saw a huge drop in the Government of Canada 5 year bond yield. This drop creates downwards pressure on fixed rate mortgages which are priced according to bond yields.  Although fixed rate mortgages are priced at an all time low it appears that there is the capacity for rates to drop further according to this post from Canadian Mortgage Trends.

There has also been some continuing action in the variable rate market as the spread on Prime minus mortgages are shrinking. Given the current global economic climate it seems unlikely that the Bank of Canada will need to move the prime rate over the short to medium term. This makes variable rate mortgages an attractive option if the risk that the prime rate can be mitigated. As such Canadians have been switching into variable rate mortgages in a big way which has meant that the profit margins for mortgage lenders has begun to shrink forcing them to decrease the spread on their variable rate mortgages.

The following are my current rates; I invite you to get in touch with me to learn more about our rates and how you can get me to work on your behalf for free.

1 Year Fixed – 2.60%

3 Year Fixed – 2.89%

4 Year Fixed – 2.99%

5 Year Fixed – 3.49%

5 Year Fixed (45 day) – 3.39%

5 Year Variable P-.35 (2.65%)

50/50 Hybrid 3.12% (effective rate)

Prime Rate is currently 3.00%

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Greetings from poolside! I couldn’t stand the thought of being cooped up in the office with this historic summer day in Toronto. Conveniently all of my gadgets are working and I like the idea of doing this mobile office more often. Rates seem to be settling down and the expected July Bank of Canada prime rate hike never precipitated as the BOC remain cautious about making any changes to a fragile economy. If you’d like to talk rates with me or get a quote fill in the contact form below, email me privately or give me a call 416.461.0204. Remember my service doesn’t cost you!

1 Year Fixed – 3.19%

Bank of Canada Qualifying rate 5.52%

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Check out my latest Interest Rate Review and current interest rate offering. If you don’t see a rate you are looking for or have additional questions please don’t hesitate to get in touch with me. 416.461.0204

1 Year Fixed – 3.19%

Bank of Canada Qualifying rate 5.52%

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I didn’t think we would be able to offer rates as competitive as last summer’s rates but low and behold the market has conspired to once again offer borrowers the opportunity to purchase or refinance with historically low interest rates. The following are my current offerings. I’m busy at the office but there is always time for new business… get in touch with me today to have me negotiate on your behalf with the bank. Best of all my service is FREE!
Chris@TridacMortgages.com or 416.461.0204ext2

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This week I am seeing interest rates come down slightly keeping fixed rate mortgages low just below the 4% mark.  Lately I have been liking the 50/50 mortgages like the Merix lendwise mortgage where 50% of your mortgage balance is charged at 3.99% and the remaining 50% variable 2.35%.  Don’t see a rate? Want me to negotiate on your behalf with the bank? Contact me!

1 Year Fixed – 3.19%

3 Year Fixed – 3.52%

5 Year Fixed – 3.99% (120 day ratehold)

5 Year Fixed – 3.89% (Quickclose June 30th)

3 Year Variable P-.65 (2.35%)

3 Year Variable P-.80 (2.20%) High ratio only.

5 Year Variable P-.65 (2.35%)

50/50 Hybrid 3.17% (effective rate)

Prime Rate is currently 3.00%.

Bank of Canada Qualifying rate 5.69%

Rates are subject to change at the lenders discretion

Over the past 4 weeks fixed mortgage interest rates have bounced up and down and been all over the place. It’s interesting to observe the hysteria (mostly spurred on by media) that comes with each increase to fixed rates.  Each time fixed rates increase experts agree that this is the end of “low” fixed rates and that borrowers better take immediate action to take advantage. However the last 4 or 5 times rates have increased they have always settled back down. If you were to draw it out it would look like a gently upward sloping oscillation.

Previous to the last increase the best fixed 5 year rates sat at about 3.89%. After the increase the fixed 5 year jumped up to 4.34%. Today’s best fixed 5 year has settle back down to 3.99% for a closing before June 15th 2011.

The following are current rates:

1 Year Fixed – 3.19%

3 Year Fixed – 3.52%

5 Year Fixed – 4.29% (120 day ratehold)

5 Year Fixed – 3.99% (Quickclose June 15th)

3 Year Variable P-.65 (2.35%)

5 Year Variable P-65 (2.35%)

Prime Rate is currently 3.00%.

Bank of Canada Qualifying rate 5.59%

Rates are subject to change at the lenders discretion

Get me to negotiate with the bank on your behalf! Call 416.461.0204ext2 or email me chris@tridacmortgages.com to learn how I can help you.

This week’s mortgage interest rate offerings from my desk.

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1 Year Fixed – 2.77%

3 Year Fixed – 3.84%

5 Year Fixed – 3.99%

3 Year Variable P-.75 (2.25%)

5 Year Variable P-75 (2.25%)

Prime Rate is currently 3.00%.

Bank of Canada Qualifying rate 5.44%

Rates are subject to change at the lenders discretion.

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In the midst of this wintry blast find warmth in the solace low mortgage interest rates.  No obligations and no pressure write or call me today 416.461.0204ext2.

1 Year Fixed – 2.85%

3 Year Fixed – 3.35%

5 Year Fixed – 3.79%

3 Year Variable P-.80 (2.20%)

5 Year Variable P-75 (2.25%)

Prime Rate is currently 3.00%.

Bank of Canada Qualifying rate 5.19%

Rates are subject to change at the lenders discretion.

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Due to increased bond activity over the past couple of weeks again lenders have increased their fixed mortgage rates. The following are the current rate offerings:

2.75% – 1 Year Fixed

3.19% – 3 Year Fixed

3.84% – 5 Year Fixed (120 day ratehold)

P-.70   3 Year Variable (2.30%)

P-.70   5 Year Variable (2.30%)

Prime Rate is currently 3.00%.

Bank of Canada Qualifying rate 5.19%

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

Mortgage interest rates have increased this week over last week due to an increase in bond yields. While mortgage rates have jumped about 20 points they still remain at all time lows. Contact a Toronto mortgage broker like myself to get yourself the best rates available.

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2.65% – 1 Year Fixed

3.49% – 3 Year Fixed

3.59% – 5 Year Fixed (quick close Dec 31sh)

3.69% – 5 Year Fixed (120 day ratehold)

P-.75   3 Year Variable (2.25%)

P-.75   5 Year Variable (2.25%)

Prime Rate is currently 3.00%.

Bank of Canada Qualifying rate 5.44%

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