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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.
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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.
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13
Dec
Market Update…
Posted by: Cory Kline