Current 5y Fixed rates:
BMO:3.59%, TD/RBC: 3.69%.
BMO:3.59%, TD/RBC: 3.69%.
Back in Apr/13
BMO: 2.69%, TD/RBC: 2.79%
BMO: 2.69%, TD/RBC: 2.79%
Almost a full percentage point increase in 3-4 months.
We can expect:
- some people with rate-holds (60-120 days) will pull the trigger before they expire.
- more people will go with variable rates, currently at P-0% (big banks)
- however, CMHC MBS rationing will affect rates of both fixed & variable mortgages. I would not be surprised if the P-0% becomes P+?%
We can expect:
- some people with rate-holds (60-120 days) will pull the trigger before they expire.
- more people will go with variable rates, currently at P-0% (big banks)
- however, CMHC MBS rationing will affect rates of both fixed & variable mortgages. I would not be surprised if the P-0% becomes P+?%
Really well done article on the mortgage situation. If you want to get any research from Toronto as our pricing goes through the roof contact me via our website http://sherwoodmortgagegroup.com/ Thanks and keep up the good work
ReplyDelete