Monday, March 29, 2010

Mortgage Interest Rates on the rise!

The longer term mortgage intrerest rates are on the rise here in Toronto and the GTA
Royal Bank and TD Canada Trust announced Monday they are increasing several fixed mortgage rates by up to 6/10ths of a percentage point.

The biggest jump is attached to the popular five-year fixed closed rate, which moves from 5.25 per cent to 5.85 per cent at both banks. That's the posted rate, which is routinely discounted by the big banks.

RBC's new discounted rate for the five-year term also rises 6/10ths of a percentage point to 4.59 per cent. TD's rises the same amount to 4.55 per cent.

Expect the other banks to follow.

Now is the time to lock in your rate if you want to go long term or if you are about to purchase, get that rate locked now!
Mark




Read more: http://www.cbc.ca/money/story/2010/03/29/mortgage-rates-up.html#ixzz0jaLDgz7Y

Toronto Real Estate Board (TREB) Average Prices and Graph

For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1

BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com

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