Monday Mortgage Minute for August 9th, 2010

August 9, 2010

Mortgage interest rates are back down. Way down. I am back from my road trip out West and ready for action. Picking up sound bites from different headlines in the news it looks like the complexion of our Canadian housing market looks just a little bit grayer. With headlines such as “CREA lowers home sales expectations”, “Condo sales in Toronto drop for first time in 16 years”, “Canadian housing market cools”, “Consumers should get set for a reality check” it’s certainly looking very bleak. However I don’t think anyone is surprised by this news. For months consumers have been warned of the changes ahead. Amid all of this negative housing news, fixed rate mortgages have come down yet again and broken the 4% barrier for the 3rd time in the past 8 months.  If you are buying in the coming months and aren’t too sure about how to position your financing get in touch to have a chat and discover what opportunities are available to you.
Son Of A Broker – Christopher Molder
2.70% – 1 Year Fixed
3.54% – 3 Year Fixed
3.89% – 5 Year Fixed

2.87% – Merix 50/50 Mortgage (Fixed/Variable hybrid)
P-.70   3 Year Variable
P-.65   5 Year Variable
Prime Rate is currently 2.75%.


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.