Best Mortgage Interest Rates May 28th

May 28, 2012

Looking for the best mortgage rates? Here are my recommendations for this week.

3 year fixed rate mortgage 2.99%
5 year fixed rate mortgage 3.15%
10 year fixed rate mortgage 3.99%
5 year variable rate mortgage P-.10 (2.90%)

Economics

Up until last week lenders were trending upwards with their fixed rate mortgages however recent Eurozone concerns have investors looking for safety. One of the safest places to park money is in Canadian bonds which drives the price up effectively decreasing the yield. This has the effect of driving lending costs down for mortgage lenders allowing room for lower interest rates. Cause for concern if you are the government trying to slow down a heated housing market and debt burdened Canadian population but great news if you are currently in the market for the best mortgage rate.

Get a free no obligation quote. Email or better yet give me a call 416.461.0204. Best of all my services don’t cost you a penny.

Profile

Christopher Molder

Mortgage Broker

Christopher is a mortgage broker based in Toronto, Canada. And a son of a broker too. He’s a second generation mortgage broker. Following in his father’s steps he joined the family mortgage business straight out of university.