23 Feb 2012
Mid Week Mortgage Minute for Feb 22, 2012
Since the end of the rate promotions last week, rates have mostly been quiet. With some improved news around Greece and prospects that the US economy may be doing better than originally expected, bond yields have ticked up a bit this week. Not enough that we’ve seen any rate changes from the lenders, but if these levels don’t reverse then it could very well lead to higher fixed rates.
Last week’s Consumer Price Index announcement was a non-issue for interest rates. It did come in a bit higher than economists were expecting, but still within the acceptable Bank of Canada range.
The next Bank of Canada announcement is March 8th and is expected to maintain the status quo.
5 Yr – 3.09%
3 Yr – 2.79%
1 Yr – 2.50%
VRM – 2.80%
Lee Welbanks is a Mortgage Broker with The Mortgage Centre and trusted Spring Realty mortgage expert. To learn more about your funding options please Contact Lee today. Lee will be posting these informative “Market Minutes” each Wednesday for you to enjoy. Please remember to subscribe to the Spring Realty Insider list to receive new blog post notifications, featured properties and insider access to Toronto’s hottest new developments.
