24 Jan

Reductions in Fixed Interest Rates. Mortgage Market Update January 24, 2014

General

Posted by: Anne Martin

 

 
Anne Martin Mortgage Agent | FSCO # M10002257
705-720-1001 1-800-500-1841    anne@ndlc.ca | www.barriemortgagelocators.com
39 Collier Street, Ste 300 Barrie ON L4M 1G5

  

  Neighbourhood Dominion Lending Centres |  FSCO 11764  Independently Owned & Operated
 
Thursday, January 23, 2014
Market Update
As expected the Bank of Canada did not move their trend setting rate yesterday. Bank prime remains unchanged at 3%.The bond rate has continued to fall as of this morning, it is down 35 basis points from the 1st of January. 
Several banks lowered their 5 year fixed rates by 10 basis points last week. If this trend continues, we will see further reductions in the fixed rate products.
The article below from the Financial Post is an excellent summary of the Bank of Canada’s current position.
5 year funds are still in the 3.39-3.49% range and variable rate mortgages in the 2.5-2.6% range.   If your mortgage is renewing in the next 6 months or you are thinking of refinancing, we strongly recommend you start the process now.
If you have a variable rate of any more than prime +.25 or a fixed rate of 4.25% or more, we should explore the merits of refinancing to a lower rate.  It may result in savings of thousands of dollars and a longer term at today’s record low rates.      Please contact me for a free, no obligation review. Spending a few minutes could save you thousands of dollars.   Bank prime is 3.00%
The next Bank of Canada meeting is on March 4th.
P.S. If you, your family, or co-workers require guidance on current market trends, please call me, I’m always available to help.

…Anne

Bank of Canada maintains overnight rate target at 1 per cent
Bank of Canada, Jan 22, 2014
Ottawa –
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
Inflation in Canada has moved further below the 2 per cent target, owing largely to significant excess supply in the economy and heightened competition in the retail sector. The path for inflation is now expected to be lower than previously anticipated for most of the projection period. The Bank expects inflation to return to the 2 per cent target in about two years, as the effects of retail competition dissipate and excess capacity is absorbed. Monitary Policy Report
Read More…

Bank of Canada leaves door open to rate cut as concerns of weak inflation grow
Gordon Isfeld | January 22, 2014  Last Updated: Jan 23 12:24 PM ET
OTTAWA — Canada’s economy is expected to tag along with the stronger U.S. recovery as it picks up speed — but, for now, it could be a matter of hurry up and wait.
Inflation in this country needs to get back to the Bank of Canada’s 2% target, and policymakers don’t expect that to happen for couple of years.
That’s good for consumers in general, but not the economy as a whole — and certainly not for a hot housing market and record household debt levels.
Read More…

 Historical Interest Rate Graphs   
Below you will find a feature which will give you current interest rate trends. It  can also be accessed on our web site. I hope you and your clients find it useful
Click here to  access rate graphs 

My Commitment to You 
  • Constant update of Market Conditions
  • Innovative Mortgage Products
  • Value Added Services
  • Unbiased Advice
  • Innovative Mortgage Strategies and NOT just Order Taking
20 Jan

Mortgage Market Update January 20, 2014.

General

Posted by: Anne Martin

 

  

      
 
Anne Martin Mortgage Agent | FSCO # M10002257
705-720-1001 1-800-500-1841   anne@ndlc.ca | www.barriemortgagelocators.com
39 Collier Street, Ste 300 Barrie ON L4M 1G5

  

  Neighbourhood Dominion Lending Centres |  FSCO 11764  Independently Owned & Operated
 
Friday, January 17, 2014
Market Update
Bonds have dropped almost 20 basis points since the start of 2014. If this stays, we expect a rate drop of 10-15 basis points early next week.
5 year funds are still in the 3.39-3.49% range and variable rate mortgages in the 2.5-2.6% range.   If your mortgage is renewing in the next 6 months or you are thinking of refinancing, we strongly recommend you start the process now.
If you have a variable rate of any more than prime +.25 or a fixed rate of 4.25% or more, we should explore the merits of refinancing to a lower rate.  It may result in savings of thousands of dollars and a longer term at today’s record low rates.     Please contact me for a free, no obligation review. Spending a few minutes could save you thousands of dollars.   Bank prime is 3.00%
The next meeting of the Bank of Canada is January 22, 2014
P.S.  If you, your family, or co-workers require guidance on current market  trends, please call me, I’m always available to help.

…Anne

 Historical Interest Rate Graphs   
Below you will find a feature which will give you current interest rate trends. It  can also be accessed on our web site. I hope you and your clients find it useful
Click here to  access rate graphs

My Commitment to You
  • Constant update of Market Conditions
  • Innovative Mortgage Products
  • Value Added Services
  • Unbiased Advice
  • Innovative Mortgage Strategies and NOT just Order Taking
13 Jan

Bank of Canada says long term rates expected to rise. Mortgage Market Update January 11, 2014

General

Posted by: Anne Martin

 


 


Anne Martin
Mortgage Agent | FSCO # M10002257

705-720-1001
1-800-500-1841
 
anne@ndlc.ca | www.barriemortgagelocators.com

39 Collier Street, Ste 300 Barrie ON L4M 1G5

  

  Neighbourhood Dominion Lending Centres |  FSCO 11764  Independently Owned & Operated

Friday, January 10, 2014
Market Update

Happy New Year to all!

Rates have remained unchanged since our last update before the holidays. 5 year fixed rates are in the 3.39-3.49 range, with a good supply of variable rate monies in the 2.5-2.6% range.
 
If your mortgage is renewing in the next 6 months or you are thinking of refinancing, we strongly recommend you start the process now.

If you have a variable rate of any more than prime +.25 or a fixed rate of 4.25% or more, we should explore the merits of refinancing to a lower rate.  It may result in savings of thousands of dollars and a longer term at today’s record low rates.  
 

Contact us for a free, no obligation review. Spending a few minutes could save you thousands of dollars.
 
Bank prime is 3.00%

The next meeting of the Bank of Canada is January 22, 2014

P.S. If you, your family, or co-workers require guidance on current market trends, please call us, we are always available to help.

…Anne

BoC governor Poloz sees long-term rates rising

The Canadian Press
Published Tuesday, January 7, 2014 9:55PM EST

TORONTO — Bank of Canada governor Stephen Poloz has cited “underperforming” inflation and a slow rebound in exports among his major concerns for the economy.

“I would say I’m most worried about inflation and how it’s underperforming all of our models,” Poloz said in an interview aired Tuesday on CBC’s The Lang and O’Leary Exchange.

Read More


 Historical Interest Rate Graphs   

Below you will find a feature which will give you current interest rate trends. It  can also be accessed on our web site. I hope you and your clients find it useful

Click here to  access rate graphs


Our Commitment to You

  • Constant update of Market Conditions
  • Innovative Mortgage Products
  • Value Added Services
  • Unbiased Advice
  • Innovative Mortgage Strategies and NOT just Order Taking