Mortgage Rate Update
Government of Canada bond yields have dropped to 2.60%. and 5 year discounted fixed are currently 4.39%. In March when bond yields were this low, 5 year rates were at 3.69%. Could be some room for further declines. Next Tuesday, June 1st, is the next rate announcement from the Bank of Canada so we'll have to wait and see. Earlier this week, the OCED was pressuring Mark Carney to raise interest rates in Canada to bring them back to natural levels, but it is still anybody's guess.
Fixed rate mortgages
3 year 3.75%
5 year 4.19% best discounted
5 year 4.59% standard
Variable rate Mortgages
3 year 1.65% special
5 year 1.75%
Contract qualifying rate
6.10% (applies to variable mortgages and terms of less than 5 years)
Friday, May 28, 2010
Wednesday, May 19, 2010
Wednesday, May 12, 2010
Who says sandwichboard advertising is dead??
Caught Marvin Barclay of Century 21 In Town Realty trying out a new, or is it an old marketing technique!
He has created his own mini monopoly cards as his business cards. And created these larger versions to wear as he walks around downtown.
http://www.century21.ca/marvin.barclay
Time will tell if the age old sandwich board is making a comeback!
Tuesday, May 11, 2010
5 year Fixed Rates Ease with Bond Yields
Just like the weather man, economists can be wrong as well!!
After the quick jump in interest rates by the big banks forseeing their "costs" rising as the bond yields climbed to 3.00%, we now have a easing this week. We have had a number of lenders drop their 5 year rates by 15 basis points. Why?
GREECE! With the crisis is Europe unfolding in the financial markets we have had a flight back to North American assets. Have you noticed the stronger US dollar? This is because investors who are worried about their exposure to European investments, are they selling them and moving back into American and Canadian dollars. A very popular, "safe" investment is to buy our government bonds. This has led to a lowering of 5 year government bond yields..
http://www.bloomberg.com/apps/quote?ticker=GCAN5YR%3AIND
How low will they go? When will they move back up? These days that is like picking the winning 6/49 numbers! But if you are shopping now or have any mortgage renewal or refinancing to do get on with it!
Regards,
Peter McKinnon
peter_mckinnon@centum.ca
http://www.peterlmckinnon.com/
After the quick jump in interest rates by the big banks forseeing their "costs" rising as the bond yields climbed to 3.00%, we now have a easing this week. We have had a number of lenders drop their 5 year rates by 15 basis points. Why?
GREECE! With the crisis is Europe unfolding in the financial markets we have had a flight back to North American assets. Have you noticed the stronger US dollar? This is because investors who are worried about their exposure to European investments, are they selling them and moving back into American and Canadian dollars. A very popular, "safe" investment is to buy our government bonds. This has led to a lowering of 5 year government bond yields..
http://www.bloomberg.com/apps/quote?ticker=GCAN5YR%3AIND
How low will they go? When will they move back up? These days that is like picking the winning 6/49 numbers! But if you are shopping now or have any mortgage renewal or refinancing to do get on with it!
Regards,
Peter McKinnon
peter_mckinnon@centum.ca
http://www.peterlmckinnon.com/
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