“Mortgage shoppers are very happy with recent rate trends!  The 5-year government yield (which leads 5 year fixed rates) made a new five-month low today.The spread between 5-year posted rates and the 5-year bond yields is now the most its been since October, and 45 basis points above its 10-year average. As a result, fixed rates should drop a bit further from here.”
(Taken from Canadian Mortgage Trends website May 27,2011)

Here’s a look at rates currently being quoted for AAA-quality borrowers:

•1-year Fixed:  2.64% 
•3-year Fixed:  2.99% (Through select brokers)
•5-year Fixed:  3.74% (Applies to “quick closes”)
•50/50 Hybrids: 2.86% (i.e., Half fixed and half variable; 90 Day closings!!)

I can be reached on my personal cell phone (705-794-1283) if you or someone you know is thinking of buying or refinancing, in this extraordinary rate environment!!

Voted “Barrie’s Best Mortgage Professional 2010”