Mortgage rate Alert!!! 

The Bank of Canada is expected to raise the Bank Rate at it's June or July or both meetings. 

We have seen an easing in the bond market as a result of the the debt crisis in Greece which has affected the European credit markets. I will try to update you on the direction in rates, however for now it appears that the bond market has settled down a bit.

05/20/10. Wow, the bond yields continue to drop as money flows out of stocks and in to bonds. Just in the past week the Canadian bond market yields have dropped almost 50 basis points, yet the banks have only dropped their fixed rates by 10 basis points. We expect that banks could reverse the upward trend and actually start lowering rates in the days ahead.

05/27/10- One bank dropped their 5 year rate today by 10 basis points to 4.49%

06/30/10-Fixed rates are starting to head lower again as weakness in the world markets have sent money to bonds therefore increasing the bond prices and lowering the yields on the Government bonds.

Aug 06/10. Continued weakness in the bond market shows rates have further room to go lower in the short term.

Prime is at 2.75%. Variable rates are at Prime minus.65% or 2.10%

** May change without notice **

Rate commitment period of 120 days applies
All rates are subject to change.

Call Paul McCormick at 905-409-7999 for the most up to date rate specials!!

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