27 Jul

Cory’s Mortgage Market Update…

General

Posted by: Cory Kline

The bond rate dropped marginally over the last week which could lead to a potential tweaking of fixed rates.
We now have one lender offering 3.89% both conventionally and high ratio.We previously had 3 lenders offering 10 year funds at 3.89%. If you have been thinking about the 10 year option. Now is the time to explore further and secure a rate.
Five year fixed rates are in the 2.99%-3.19% range.
If you have a variable rate of any more than prime +.75 or a fixed rate of 4.0% or more, we should explore the merits of refinancing to a lower rate.

 

Contact us for a free, no obligation review. Spending a few minutes could save you thousands of dollars.

 

 

Bank prime is 3.00%

The next meeting of the Bank of Canada is on September 5th, 2012.

If you, your family, or co-workers require guidance on current market trends, please call us, we are always available to help.

Thank you!

-Cory Kline (Mortgage Advisor at Neighbourhood DLC, cory@ndlc.ca or 705-794-1283)

12 Jul

Cory’s Mortgage Market Comment…

General

Posted by: Cory Kline

With the new mortgage regulations last week, every lender saw instant increased volumes. As a result, we are experiencing slower turnaround times.
On the conventional side, a few of our lenders have tightened amortizations to be consistent with that of the new changes but we do still have many offering the 30 -35 year amortizations.
The next announcement from Bank of Canada will take place on July 17th. No changes are expected. The bond rate remained steady this week with five year money maintaining the 3.09% – 3.19% range.
We now have 3 lenders offering 10 year funds at 3.89%. A wonderful option for those concerned with future rates.

If you have a variable rate of any more than prime +.75 or a fixed rate of 4.0% or more, we should explore the merits of refinancing to a lower rate.

 

 

Bank prime is 3.00%

The next meeting of the Bank of Canada is on July 17th, 2012.

 

Call us for a second opinion on your mortgage! Spending a few minutes could save you thousands of dollars.

–Cory Kline (Mortgage Advisor at Neighbourhood DLC, cory@ndlc.ca or 705-794-1283)

5 Jul

Cory’s Market Comment…

General

Posted by: Cory Kline

The majority of our lenders have officially announced the changes to underwriting guidelines effective July 9th at the latest. We are seeing an overall tightening up in the mortgage industry with both high ratio and conventional mortgages.
The next announcement from Bank of Canada will take place on July 17th. No changes are expected.
 
The bond rate remained steady this week with five year money maintaining the 3.09% – 3.19% range.
We now have 3 lenders offering 10 year funds at 3.89%. A wonderful option for those concerned with future rates.

If you have a variable rate of any more than prime +.75 or a fixed rate of 4.0% or more, we should explore the merits of refinancing to a lower rate.

 

Contact us for a free, no obligation review. Spending a few minutes could save you thousands of dollars.

 

 

Bank prime is 3.00%

The next meeting of the Bank of Canada is on July 17th, 2012.

 

 
If you, your family, or co-workers require guidance on current market trends, please call us, we are always available to help.

Thank you,

-Cory Kline (Mortgage Advisor from Neighbourhood DLC, cory@ndlc.ca or 705-794-1283)