Tag Archives: Fixed Mortgage Rates

Mortgage Rate vs. Mortgage Service

When shopping for a mortgage, the first thing borrowers looks for (and sometimes the only thing) is the best mortgage rate.  While mortgage rate is undeniably the single most important factor in choosing a mortgage, other factors could overwhelmingly make a low rate mortgage a bad choice.  Some of you may be thinking, “What other factors?” Other factors will rank in priority according to an individual’s circumstances, but they’ll affect … Read More

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3 Steps to the Best Mortgage Rate at Renewal

You’ve been a loyal customer for 5 years and have made every payment on time.  So why is your bank offering you a higher mortgage rate than a new customer?  It’s an all too common story.  Most lenders have posted mortgage rates and discounted mortgage rates.  Typically renewal letters go out at posted mortgage rates which are about 2% higher than the discounted mortgage rates used to lure new mortgage … Read More

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The Hidden Pitfall in March’s Major Empoyment Gains

Employment numbers increased dramatically with March cranking out 82,300 jobs, surpassing economists’ expectations 8 fold.  This surge of new jobs pushed down the unemployment rate to 7.2%, its lowest rate since the recession began over 3 years ago.  This is obviously good news for the economy and is another clear signpost to naysayers that Canada is not only out of its recession, but bouncing back better than expected. Any significant … Read More

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Fixed Mortgage Rate Outlook – April 2012

The Five year fixed mortgage rate has increased by 0.25% over the past week and is no longer flirting with the infamous 2.99% mark.  Although the popular 5 year fixed mortgage rate will continue to move erratically, the outlook for the next 6 months is a slight increase of 0.10% to 0.25%. The 5 year fixed mortgage rate is driven by the 5 year bond rate.  These bonds have bounced … Read More

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3 Reasons to Get a Fixed Rate Mortgage

The 2 most popular mortgage terms are 5 year fixed and 5 year variable.  Only a short year ago 60% of borrowers were choosing the variable option, but today’s landscape favours fixed mortgage rates.  Fixed mortgage rates and variable mortgage rates fluctuate based on the lenders cost of funds.  What many don’t realize is that the cost of funds for variable mortgage rates and fixed mortgage rates can move in … Read More

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Fixed Mortgage Rate Outlook – February 2012

Like variable mortgage rates, the outlook for fixed mortgage rates is flat over the short term.  The longer term outlook for fixed rates however is a little less certain.  Fixed mortgage rates have been flirting with record lows for the past 30 days so it wouldn’t be surprising if over the near term there was some modest increases.  However to get a better sense of where fixed rates are going … Read More

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