Cory Kline, AMP
Mortgage Agent
Read Cory Kline, AMP's Blog Go to Cory Kline, AMP's Website Follow Cory Kline, AMP on Facebook

Mortgage Market Update

Updated Monday, April 14, 2014  ::  Views (2271)

The bond market has softened slightly the past week. There have been no changes in fixed or variable rates.
5 year fixed rates remain in the 2.98%-3.19% range.

Variable rate mortgages are available in the 2.35-2.55% range.

The Bank of Canada will have their press release on April 16th along with their Monetary Report. No changes are expected at this time.

'The sudden death of former federal finance minister Jim Flaherty last week was the biggest story on the front page and in the business pages. As finance minister, he took a keen interest in the housing and mortgage markets. Under his watch, rules for insured mortgages were first loosened considerably and then tightened in recent years.'

'Housing starts dropped sharply in March, according to figures released last week by CMHC. Many economists have been predicting a pull-back in residential construction activity as builders adjust and manage their inventory levels.'

If your mortgage is renewing in the next 6 months or you are thinking of refinancing, I strongly recommend you start the process now.

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%


P.S. If you, your family, or co-workers require guidance on current market trends, please call us, I am always available to help.

Cory Kline, AMP
Neighbourhood Dominion Lending Centres
 
Cell / Text: 705-794-1283
Fax: 1-877-812-6190
 
Mortgage Agent, FSCO # M09001239
Brokerage FSCO Lic. # 11764
 
"Call for a Free second opinion on your Mortgage!"

Add a Comment

Fields marked with "*" are required to process your form.
Your Name
*
Email Address (will never be shown)
*
Website
Comment

Allowed XHTML tags : a, b, i, strong, code, acrynom, blockquote, abbr. Linebreaks will be converted Automatically.

CAPTCHA Image