Fixed mortgage rates are married to bond yields. As a mortgage broker I constantly look towards the 5 year Government of Canada bond yield to forecast where rates are heading to advise clients. Bond yields and fixed rate mortgages have a positive relationship. Put another way, when the yield on 5 year Canadian Bonds increases, [...]

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 [...]

Do you remember when you were a kid and you stood on the train tracks on a hot summer day peering into the distance for the coming train? Then suddenly, in the distance, a single light appeared suspended in mid air and the shape of a massive train hurdling towards you sent your heart racing. [...]

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 [...]

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 [...]

I have joined a group of Toronto volunteers who have committed themselves to offering their professional services in exchange for donations to the Haiti relief effort. www.TorontoWorksForHaiti.com Our group includes professionals and entrepreneurs offering a wide range of services all the way from Artists, to Japanese translation services, to Style Consultants and Social Media services.

I [...]

There haven’t been any further significant changes to Toronto Mortgage Interest Rates over the past 7 days. Rates remain unchanged from last week… if you would like to explore if you qualify for our rate specials or are looking for a specific product, please don’t hesitate to contact me.
Chris Molder – Son Of A Broker
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Toronto mortgage interest rates have taken a definite U turn from the direction predicted by economists at the beginning of the year. It looks like low interest rates may be here to stay for a while longer. I can currently offer a 5 year fixed at an unprecedented low rate of 3.75% subject to lender [...]