Fixed Rate Increases
Fixed Rates keep climbing, with the 5 year "posted" bank rate now over 6%. RBC and TD have announced a further .15% increase this week. With that being said we still have some great deals on both 3 and 5 year fixed rate mortgages (see rates for pricing). Variable rates are very low, starting at 1.75% (as long as you qualify). As well, combo 50/50 mortgages (50% variable/50% fixed) are also a nice choice as you get the best of both worlds by hedging your bet. The average rate of this product at the moment is about 3.25%.
As always, feel free to call us if you have any questions. April showers bring May flowers.. cheers!
MJS
As always, feel free to call us if you have any questions. April showers bring May flowers.. cheers!
MJS