Blog entries will be posted in the language in which they were written.
April 11th, 2011

Buyers Alert!! fixed rates have gone up

Posted by Joan McGuigan

 

Message from Faisal Jamil  -Mortgage Broker:

Many of you should be aware that the fixed rates have gone up, specifically the 5 year rates.  The variable remains unchanged.

As rates continue to rise, it is even more important to have your clients pre-approved.  I know many of you like to deal with the banks, however if the ratios do not fit that bank you are going to refer them to, what is your plan B and do you have enough time to achieve it?  Let a broker do the shopping for you to avoid lost time.

The Bank of Canada is meeting tomorrow to discuss the prime rate.  Updates will be sent out accordingly.

Thank you,

Faisal Jamil

Mortgage Broker

Hypotheca courtier hypothécaire AC

Term Bank Rate   

Hypotheca Rate   

Variable   

3.00% – 0.75% =2.25% – 5 year   

1 year   

4.30%   

2.64%   

3 years   

4.55%   

3.59%   

5 years   

5.69%   

*3.99%*   

7 years   

6.60%   

4.69%   

10 years   

6.99%   

4.89%   

 

For further information , please contact us:  info@mcguiganpepin.com

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