Hello, The following is a column I wrote the back in April 2012…I keep referring to it. And wanted keep you updated as to what is currently happening in the marketplace.
Fixed (rates) – not fluctuating or varying; definite
When it comes to your mortgage, don’t you wish you had a reliable physic or crystal ball that could predict the direction the fixed rates were heading? Well, good news, you do…kind of! The Canadian Bond Yield is essentially your crystal ball. By following the bond yield you are able to, within reason, estimate the lenders rates. The fixed rate is generally 1.5-1.75% higher than the bond yield. Once you see the bond yield fluctuate 20 basis points (0.20%), it’s likely the rates will change within 7 days. If you want to make your own market predictions, to go. With today’s fixed rates currently sitting at an all time low, it’s now time to take back control of your personal finances. The banks have benefited for years, now it’s your turn! Contact me to discuss all your options.
This was published on investing.com yesterday (Jan 22, 2014). If you are in the market, now might be the time to consider. The spread is a bit high right now for 2.99%, but it might not be far away!
http://www.investing.com/rates-bonds/canada-5-year-bond-yield
Cheers,
Michael Hallett, Mortgage Expert
Dominion Lending Centres
604 616 2266
michaelhallett.ca
@Hallettmortgage
DREAM TODAY. OWN TOMORROW.