Well those pesky Bond yields have started to rise again!
Just passed 2.65% today after optomistic comments about an early recovery from the recession by Mark Carney of the Bank of Canada.
What does this mean to mortgage consumers? If you are a little uncomfortable with variable rate products currently offering 2.50% you might want to lock into your lenders current 5 year rate. We have many lenders currently offering 4.19-4.29% for 5 year fixed.
For more info http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2009/07/mortgage-advice-from-mark-carney.html
and to see the Mark Carney report:
http://watch.bnn.ca/#clip196425
Nobody knows the future, so remember to always consult a licensed mortgage professional about your individual situation.
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