Thursday, February 16, 2012

Mortgage interest rates are going up!

This was the advice from a mortgage person that just sent me information
about what's happening with mortgage lending rates. It seems that the
'specials' for the fixed rate mortgages are dissappearing. If you are
purchasing or renewing, now is the time to lock in, assuming that's the
route you want to go. Read about it below.

You know my advice, go variable, read more about it here:

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

All the best!
Mark

Hi Mark ,

Last few days we have seen quite a few lenders have cancelled the special
rates for 4 year fixed @2.99%. I expect all lenders will follow.

What can you do to help yourself?

If you have put a purchase offer, get these special rates ASAP. (Still some
lenders have great rates.)
Unforturnately most banks don't offer these rates for pre-approval.
But we do have some good news for clients to be pre-approved and hold these
historical low rates.

3 year fixed rate @2.89% available for pre-approval, rate hold for 120 days
4 year fixed rate @ 2.99% for high ratio mortgage, 3.09% for conventional
mortgage, rate hold 90 days for pre-approval.
5 year fixed rate @ 3.19% for high ratio mortgage, 3.29% for conventional
mortgage, rate hold 90 days for pre-approval.

These rates won't last long, so please act quickly if you are looking to buy
or refinance

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