Early 2010 the talk was about rates starting a big increase in June. That made many lock in their VRMs and go Fixed!

It’s August and the Prime rate has increased by .75% but the fixed rates are DOWN!  The Recovery is shaky at best.  The US recovery is disappointing and more stimulus is being called for.  The Toronto Stock Market declined 256 Points yesterday amid more poor economic news. View this important video from BNN.ca Aug 12^th 7:05am

The US Federal Reserve did not increase their Prime rate this week as expected, and the Bank of Canada will likely not increase the Prime in Sept.

WEEKLY E-RATES CLICK HERE

You can still take advantage of the VRM, provided you pay it as though it was a Fixed Mortgage!   Fixed rates are again offering historically low rates if you like a guaranteed rate.  It’s a great time to buy, refinance to consolidate, invest or add a recreational property. Contact us Today!

Elfie Hayes

Lowrate.ca

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** Interest Rates are provided for information purposes only and are subject to change at any time without notice.  The products listed above are available only in Canada to Canadian residents.  Rates shown are for single-family residential properties only and are subject to meeting all lender credit granting criteria. Rates shown above may be specific to the sender and some conditions may apply.  E&EO

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