Posts tagged ‘Variable Rate’
King for a Day: Why Now Is The Time For A Fixed Rate Mortgage
Tweet Earlier this week Rob Carrick of the Globe & Mail wrote an article Variable or Fixed? It’s no contest. As a regular observer and reader of mortgage news I am rarely enthusiastic about the media’s mortgage rhetoric however this week’s article was timely and perfectly expresses why in today’s market the fixed rate mortgage [...]
Bank Of Canada Interest Rate Announcement- Prime Rate Unchanged
Tweet As was widely expected the Bank of Canada announced that they would keep the prime rate unchanged this morning. In the BoC’s press release which you can read here, the bank observed that the global economy has slowed significantly. The mood of households much like banks and business is to avoid risk and there [...]
Variable Rate Mortgages Continue To Increase – Trend of the Shrinking Spread
The culprit seems to be narrowing spreads. The spread is essentially the difference between the rate offered by a lender to a client minus the lender’s cost to fund your mortgage. The lender’s base cost for variable rate mortgages is typically a 30 day bankers’ acceptance (BA) yield.
Bank Of Canada Leaves Prime Rate Unchanged
Tweet The Bank of Canada left the prime rate unchanged today. In explaining the decision to leave borrowing costs alone for an eighth meeting, as expected, the central bank said it believes Canada’s economy is growing again after stalling in the second quarter, but painted a troubling picture for the United States and Europe, and [...]
Mortgage Interest Rate Update August 10th 2011
Tweet The recent global economic downturn has benefits if you are currently in the mortgage market. The market mayhem has two effects: on the one side it alleviates any pressure the Bank of Canada may have felt to increase the prime rate and secondly, as investors pour their money into safe investments like Government of [...]
Prime Rate Remains Unchanged – Bank of Canada
Tweet Good news from the Bank of Canada this morning if you have a variable rate mortgage or line of credit. In their last meeting for 2010 the Bank of Canada has decided to leave the prime rate unchanged citing that while the global recovery is rolling out as expected there are some increased risks. [...]
Mortgage Interest Rate Review – Dec 1st 2010
Tweet 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. 2.65% – 1 Year Fixed 3.49% – 3 [...]
Monday Mortgage Review Sept 27th 2010
Tweet Officially these are the lowest fixed rate mortgages my father ever remembers being able to offer over the course of his 34 year long career. They may be lowest I’ll ever be able to offer as well. Here are the current Toronto Mortgage Interest Rates available this week: 2.70% – 1 Year Fixed 2.90% [...]
Toronto Monday Mortgage Rate Review
Tweet 2.70% – 1 Year Fixed 2.90% – 3 Year Fixed 3.69% – 5 Year Fixed (quick close Oct 30th) 2.87% – Merix 50/50 Mortgage (Fixed/Variable hybrid) P-.70 3 Year Variable (2.30%) P-.7o 5 Year Variable (2.30%) Prime Rate is currently 3.00%. Bank of Canada Qualifying rate 5.39%. NOTE: Rates are subject to [...]
