fixed mortgage rates: Is it too late to refinance your mortgage?
- 07/13/09 01:56 PM
"The days of ridiculously cheap mortgage rates appear to be over. Now they're just cheap. A sudden and dramatic jump in rates from Wednesday to Thursday means Canadians looking to break their existing mortgage and refinance at a lower rate may have missed the sweetest spot in recent history. But that doesn't mean people can't still trim their payments. "We are not going to see these rates again for a while, not in the immediate horizon and maybe never," says Gary Siegle, a Calgary-based manager at mortgage broker Invis. "But rates are still at historical lows. Depending on what your penalties … (0 comments)
fixed mortgage rates: Bond Rates Rise! Fixed Rates to Jump
- 07/13/09 01:43 PM
Bond Yields Jump Again The 5-year government bond rocketed to 2.71% today. Various lenders have already issued fresh new fixed rate increases. More may follow tomorrow if yields don't retrace. Two-year bond yields also broke to the upside. That may lead to upcoming rate increases on shorter-term mortgages, which have been insulated from rate hikes for several months. If you're shopping for a fixed mortgage, be safe and get your application in soon.
"The days of ridiculously cheap mortgage rates appear to be over. Now they're just cheap.
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