March Mortgage Rates Coming In Like a Lamb
Mortgage Rate Outlook Panel

March Mortgage Rates Coming In Like a Lamb

RateSupermarket.ca’s Expert Mortgage Panel Expects Moderate Increases to Fixed Mortgage Rates and Level Variable Rates Heading Into Spring. With the spring real estate season on the horizon and historically low interest rates, the debate on the minds of those preparing for a mortgage is Fixed vs. Variable. Although the Fed has promised to keep their interest rates constant until 2013, in Canada several factors can impact rate fluctuations, though in this market, likely not significantly. Continue reading »

Lowest 5 Year Fixed Mortgage Rate
Mortgage News / Mortgage Rate Outlook Panel / Mortgages

Lowest 5 Year Fixed Mortgage Rate

This rate is worth it’s own blog post! Currently on RateSupermarket.ca you can get a 5 year fixed mortgage rate for only 2.99%. Yes you heard right, 2.99%! The offer is only available to Ontario residents and comes with a 21 day rate hold. It also allows for 20% annual lump sum payments and a 20% increase on your monthly payments – two features that allow you pay off your mortgage faster and save loads on interest. Continue reading »

Bank of Canada Leaves the Key Interest Rate Unchanged
Economic News / Mortgage News / Mortgages

Bank of Canada Leaves the Key Interest Rate Unchanged

The interest rate announcement earlier today confirmed what many were expecting, the Bank of Canada will maintain the key overnight lending rate. The overnight rate continues to sit at 1 per cent, the Bank Rate is 1 1/4 per cent and the deposit rate is 3/4 per cent. This announcement mirrors the thoughts of our Mortgage Rate Outlook Panel and means that variable mortgage rates will remain unchanged. Continue reading »

Fixed Mortgage Rate Outlook is Unclear
Mortgage News / Mortgage Rate Outlook Panel / Mortgages

Fixed Mortgage Rate Outlook is Unclear

RateSupermarket.ca has announced the results from their Mortgage Rate Outlook Panel for March 2011. The short term outlook for fixed mortgage rates is unclear with the Panel expressing conflicting views, but the resulting consensus is unchanged. Homeowners can also expect low variable mortgage rates to continue in the short term, while the long term outlook is a slow and steady increase set to begin around the middle of 2011.
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