Friday, October 09, 2009

5 year mortgage interest rates increasing

RBC announced today that they are increasing their 5 year mortgage interest rate to 5.84% up 35 points from 5.49%. RBC said it would be effective tomorrow, Saturday the 10th of October

It may be a good time to lock in for those that don't want to gamble with rates

My philosophy is the same, go short! Read more about that here:

http://www.mississauga4sale.com/Lock-In-Short-Term-Long-Term-Mortgage.htm

Short or Long term Mortgage, what is best for you?

All the best and Happy Thanksgiving!
Mark

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