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Crazy times call for crazy low variable mortgage rates! See this!

Canadian homebuyers now have the option of getting a variable mortgage rate below one per cent for the first time ever, according to Ratehub a rate comparison website.
The best five-year fixed rate is 1.74 per cent, according to the site.

Keep in mind that as of June 1, the stress tests for both uninsured and insured borrowers were tightened, meaning homebuyers have to prove they can handle their mortgage payments at a rate of at least 5.25 per cent.
Time for renewal or getting a new mortgage?

I am connected to some of the best mortgage experts in the business.
Call Mike Bolger at (519) 616-2656 for more details. I look forward to your call.

Article here
https://bit.ly/3B8eC7f

#mortgagerates#mortgageadvice


News Story Monday, March 22, 2021

Time may be running out for dirt-cheap interest rates!

Time may be running out for dirt-cheap interest rates!
Five-year fixed mortgage rates are beginning to climb for the first time since before the pandemic hit.

Now, major banks including TD Bank and National Bank of Canada say they have raised rates on at least some mortgage products as growing optimism over the economy has sent the yield on the Canada five-year bond soaring.

Would-be borrowers who don’t act promptly run the risk of losing out on mortgage rates that are still very low by historical standards.

Article here:
https://financialpost.com/moneywise/canadas-mortgage-rates-are-rising-fast-heres-how-to-secure-the-lowest-rate-possible

Time for renewal or getting a new mortgage?
I am connected to some of the best mortgage experts in the business.
Call Mike Bolger at (519) 616-2656 for more details. I look forward to your call.

#mortgagerates#mortgageadvice


News Story Monday, February 22, 2021

Canadian Mortgage Rates Most Likely To Climb, Despite Low Overnight Rate

↓↓↓

Canadian home buyers may be looking at higher mortgage rates sooner than expected. At least if they want to lock in their mortgage interest rate. The 5-year Government of Canada (GoC) benchmark bond yields in February, are almost double last year’s lows. Since 5-year fixed mortgages are influenced by these rates, they are likely to climb soon. As quickly as falling rates introduced market liquidity, rising rates may reduce it. Even if the overnight rate remains untouched for the next year. 

Time for renewal or getting a new mortgage?
I am connected to some of the best mortgage experts in the business.
Call Mike Bolger at (519) 616-2656 for more details. I look forward to your call.

Article here
https://yhoo.it/2MdURXf

#mortgagerates


News Story Friday, August 07, 2020

Fixed or Variable? 😕❔

Fixed or Variable?
😕👇
“If you’re in the trenches shopping for a new mortgage, I’m going to tell you something I’ve rarely told anyone in 13 years in this business: Variable rates are a gamble that you don’t need to take,” RateSpy founder Rob McLister.
 
For new borrowers, variable rates have largely lost their appeal since prime rate has very little room left to fall, if at all.
 
As of today, some of the most competitive mortgage providers are offering 5-year fixed rates at less than ten basis points above the lowest variable rates. See the article here. https://bit.ly/31xV5Ms
 
Are you looking for a mortgage broker? I know some of the best in the area.
Call me at (519) 616-2656 for a referral.
 

#mortgagerates#primerate#mortgageratesdropping#mikebolger


Bank of Canada has cut their prime rate again

Bank of Canada has announced they have cut their prime rate again. Today's real estate market is stressful at the best of times. With mortgage rates dropping and demand for real estate increasing, this journey demands the knowledge of the voted best real estate team in Waterloo! I encourage you to visit my website or call anytime direct at 519-616-2656 today to become a well-informed buyer and or seller. I look forward to serving your best interests in real estate soon.

#mortgagerates#primerate#mortgageratesdropping


News Story Monday, March 16, 2020

Why are some mortgage rates rising?

Why are some mortgage rates rising? Fears over the COVID-19 pandemic and falling oil prices have caused mortgage rates to fall to multi-year lows over the past couple of weeks. According to Canadian Mortgage Trends, some lenders are starting to raise rates. Fixed rates on certain terms have been creeping back up, while some of the big banks have been quietly cutting their discounts on the prime rate. A host of other lenders have also been slashing their discounts from prime by anywhere from 20 up to 75 basis points. For those in the market for a new mortgage, and who are leaning towards a variable rate, some experts recommend obtaining a rate hold. Do you have questions about mortgages? I am connected to some of the best Mortgage experts in the business. Call Mike Bolger at (519) 616-2656 for more details. I look forward to your call.

#coronavirus#covid19#mortgagerates





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