31 Aug

Market Comment…

General

Posted by: Cory Kline

News Release: Scotiabank has an agreement to purchase the Canadian operations of ING Direct. At this time it would appear that ING will continue to operate as a strong independent brand, offering self service banking, and investing without branch services and advice.
 
Mortgage Brokers will continue to provide clients with mortgage advice while obtaining an ING Mortgage (unmortgage).
 
Among the benefits of a standard ING mortgage including…
25% pre payment options,
Amortizations of 5-30 years,
Portability
And Early renewal options, ING also currently has an outstanding 10 year offer at 3.89%.
 
 
Although ING and Scotiabank mortgages are similar in many aspects, Scotiabank generally does not have the appetite that ING does for 10 year mortgages, which could result in the removal of the 3.89% 10 year mortgage offer, once Scotiabank treasury departments complete their in-depth analysis of current ING mortgage specials.
 
My advice, if you would like to take advantage of our current low interest rate environments, for the longest time possible, email me today to discuss getting a 10 year 3.89% mortgage before it’s gone!
—————
Market Coment…Bonds were very stable this week keeping five year rates in the 3.09-3.19% 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.
Have a great weekend!
-Cory Kline

Mortgage Advisor at Neighbourhood Dominion Lending Centres, cory@ndlc.ca or 705-794-1283, or visit us at 39 Collier Street downtown Barrie.

10 Aug

Cory’s Mortgage Market Comment…

General

Posted by: Cory Kline

The lack of global economic turmoil the past few weeks has seen the bond rates rise by approximately 20 basis points. There is some pressure to see a small increase in the fixed mortgage rates. 5 year money continues  to the 2.99% – 3.09% range. 

   

We have one lender that will secure 10 year funds at 3.89% both conventionally and high ratio. If you have had any thoughts on securing a 10 year rate, now is a great time to look into it.

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 and have a good weekend!
-Cory
7 Aug

Cory’s Market Update…

General

Posted by: Cory Kline

The bond rate has remained in the lower range the past couple of  weeks and as a result we have seen lenders tweak 5 year money to the 2.99% – 3.09% range.
We have one lender that will secure 10 year funds at 3.89% both conventionally and high ratio. If you have had any thoughts on securing a 10 year rate, now is a great time to look into it.
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 (cory@ndlc.ca)