Bond rates have continued to rise. We have seen several rate hike warnings and a few lenders make small upward adjustments.
5 year fixed rates are still in the high 2 % range with variable rates in the 2.35-2.55% range.
If you have a variable rate of any more than prime +.25 or a fixed rate of 4.25% or more, we should explore the merits of refinancing to a lower rate. It may result in savings of thousands of dollars and a longer term at today's record low rates.
Contact me for a free, no obligation review. Spending a few minutes could save you thousands of dollars.
Bank prime is 3.00%.
Next Bank of Canada update is October 22, 2014.
P.S. If you, your family, or co-workers require guidance on current market trends, please call me, I am always available to help.