Wednesday, 14 August 2013

5 year fixed rates now up almost 1% since the March/April 2013

Current 5y Fixed rates:
BMO:3.59%, TD/RBC: 3.69%.

Back in Apr/13
BMO: 2.69%, TD/RBC: 2.79%

Almost a full percentage point increase in 3-4 months.
We can expect:
- some people with rate-holds (60-120 days) will pull the trigger before they expire.
- more people will go with variable rates, currently at P-0% (big banks)
- however, CMHC MBS rationing will affect rates of both fixed & variable mortgages. I would not be surprised if the P-0% becomes P+?%

1 comment:

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