Friday, March 26, 2010

Some think the Bank of Canada Prime rate will go up soon

There are rumours in the marketplace that the Bank of Canada may increase their prime rate sooner than expected. If this is the case, then you may wish to lock in your mortgage rate now if you are eventually considering this option.

If you are purchasing in the next few months, then definitely you want to lock in your rate today, that way you are safe.

Thank you,

This is what I just heard Due to inflation pressure, Bank of Canada might raise the prime rate sooner than originally expected. I have seen bond yield rates have gone up sharply.

That means fixed rates might go up very soon. So please do your clients a favor to lock fixed rates for 120 days.

Great rate offered for pre-approval: 3.69% for 5 year fixed. Once the application is sent in, the rate will be guaranteed for 120 days.

For clients who want to take advantage of lower variable rates, P-0.5% (1.75%) is still available.

Best regards,

Warren Z.

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