Four Years. Go.
This past weekend the Mortgage Broker (Arnold Molder) took his son (Christopher Molder) to Boston to attend The Global Sufficiency Summit. It was truly an eye opening and unforgettable experience which I will be blogging and talking more about over the coming weeks and months. There is so much that we would like to ...
Monday Mortgage Minute & Interest Rates for April 19th
A combination of positive economic data, the high Canadian dollar and probably the most important factor, the end of RRSP season in mid March when lenders artificially kept rates low to attract business, has caused two increases to fixed rate mortgages over the past 10 days. The difference between current fixed rates (4.59%) and ...
Watch the S.o.b Hangloose- Sailing in Toronto Inner Harbour
We all need to release somehow. When I find I have too many interest rates, bond yields, Bank of Canada economic reports, lender policy and guidelines on my mind there is nothing better than a sail. This year the sailing season couldn’t start soon enough as I spent the Easter weekend zipping around Toronto ...
Monday Mortgage Minute for April 5th 2010.
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 ...
Monday Mortgage Interest Rate Minute – March 22nd
Fixed mortgage rates are married to bond yields. As a mortgage broker I constantly look towards the 5 year Government of Canada bond yield to forecast where rates are heading to advise clients. Bond yields and fixed rate mortgages have a positive relationship. Put another way, when the yield on 5 year Canadian Bonds ...
Merix Financial’s 3 Year Variable Rate Down
Merix is leading the way down with their 3 year variable rate mortgage. They announced yesterday evening that they are now offering Prime minus 0.50 which currently gives the borrower an effective rate of 1.75%! We are now back down to the same variable rate spreads that we saw pre-financial crisis fall 2008. The ...