We all knew it was going to happen, we just didn’t know exactly when. Last Monday fixed rate mortgages increased. The fixed 5 year rate increased by a half of a percent from 3.89% to 4.39%. The following are current rates that I can offer but if you are feeling down that you missed an opportunity to capitalize on a low fixed rate mortgage consider my argument for opting for a variable rate mortgage at Prime minus 0.50 (1.75%). It appears that in the long run sticking it out with a variable may still be a good option. If you have questions or comments please feel free to write or contact me.
Chris Molder – Son Of A Broker
Fixed 3 year – 3.70%
Fixed 5 year – 4.39%
3 or 5 year Variable P-.50 (1.75%).