• March 31 2010, I had the great privilege of being invited to speak on the Radio Real Estate Show on AM650, at 10:00am, Radio Real Estate
    This is what I had to say:

    Good Morning Tom, Good Morning Edith,
    Mortgage rates rose this week due to the strong economic conditions in Canada. The biggest one day increase since 1996. One big banks’ best 5 year fixed rate went from 3.64% to 4.39%.

    The bond markets, that affect long term mortgage rates, priced in an anticipated Bank of Canada rate increase. The financial markets are anticipating that the BOC will increase their funding rate in May, this is earlier than the commitment from the finance minster to wait until July 2010.

    If you are planning on buying a home or renewing your existing mortgage and you are interested in a fixed rate mortgage, we recommend securing a 120 rate hold now, as their will be continued pressure on rates to increase. We still have 3.79% for a 5 years fixed rate available.

    If you have a variable rate mortgage and you are thinking about locking in, call me today to discuss the options available to you.

    This is Karen Boies for Radio Real Estate

    37.Mortgage Centre-Karen Boies Apr 3