As expected there was no change in the Bank of Canada this past week. They certainly set the stage for some possible increases in the future. The bond rate remained flat the past 7 days, therefore no changes in the fixed term mortgage rates.

We still have 2 lenders offering 10 year funds at 3.89%. An excellent 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 June 5, 2012.

– Cory Kline, “Trusted mortgage advise”,  Neighbourhood Dominion Lending Centres, cory@ndlc.ca or 705-794-1283

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