Both the mortgage and bond rates remained steady the past week, remaining close to historical lows. We have 5 year money at 2.99% with many lenders,10 year funds as low as 3.79% and variable rates in the prime less .35%(2.65) range.
If you have a variable rate of any more than prime +.75 or a fixed rate of 3.75% or more, we should explore the merits of refinancing to a lower rate. It may result in savings of thousands of dollars and a longer term at today’s record low rates.
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 January 23rd, 2013.
P.S. If you, your family, or co-workers require guidance on current market trends, please call us, we are always available to help.
Month: December 2012
As expected, there was no change in the Bank of Canada press release.
Bank prime remains at 3%.
This means no changes in variable rate mortgages or line of credit rates.
Fixed rates remain at records lows. We currently have five year money ranging from 2.99% to 3.19%. Ten year money is ranging from 3.79%-3.89%.
Below are the highlights of the Bank of Canada Announcement:
The next Bank of Canada Announcement is scheduled for January 23rd, 2013
Bank prime is 3.0%
-Cory Kline (705-794-1283)
P.S. If you have any questions as to what this means to your mortgage, we are always here to help you with unbiased advice.