Bonds remained relatively steady this week with no  major changes to interest rates.

We have seen a slight tweaking of fixed funds for high ratio or quick closings, offering a 5 year fixed at 2.99%.
Regular 5 year money is currently in the 3.09% – 3.19% range. We still have one lender, both conventional and high ratio, offering 10 year funds at 3.89%.             

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 October 23rd, 2012.

-Cory

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