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PostPosted: Fri Jun 21, 2013 1:24 pm 
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Joined: Fri Feb 01, 2008 2:35 pm
Posts: 528
Last week we had a large spike in fixed mortgage rates due to rapidly increasing bond yields. The bond yields have continued to climb and are up another 2.79% as of this post putting more upward pressure on fixed mortgage rates. A few more lenders increased their rates as of today and more will follow.

You can still get a 5 year fixed mortgage for as low as 2.99% closing within 120 days or 2.89% closing within 30 days, however these rates will mostly likely be increasing and this can happen at any time. This may be the last chance to get a 5 year fixed rate under 3%.

You can follow the bond yields yourself here which will indicate why fixed mortgage rates are increasing: http://www.investing.com/rates-bonds/ca ... bond-yield

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Paul Meredith
Mortgage Broker
CityCan Financial (est 1976)
416-409-8009
http://www.easy123mortgage.ca
paulm@citycan.com
Lic#10532

Follow me on Twitter! http://www.twitter.com/paulmeredith


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PostPosted: Mon Jun 24, 2013 3:47 pm 
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Joined: Fri Feb 01, 2008 2:35 pm
Posts: 528
Four more lenders have increased mortgage rates today to between 3.39% and 3.59% for a 5 year fixed. There is still 2.99% available (Or 2.84% if closing within 30 days) but these rates are going to be increasing very soon.

The 3 year at 2.59% and the 10 year at 3.59% are both starting to look quite attractive.

_________________
Paul Meredith
Mortgage Broker
CityCan Financial (est 1976)
416-409-8009
http://www.easy123mortgage.ca
paulm@citycan.com
Lic#10532

Follow me on Twitter! http://www.twitter.com/paulmeredith


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