Blog by Michael Sjerven

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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