Friday, April 23, 2010
Canadian Mortgage Rates Heading Lower?
What goes up quickly will come down slower. Even though we have seen the fixed rates go up by .85% over the last two weeks, there is now a calmness settling in the marketplace. All the people that were scared and locking in drove the 5 year bond yield up, now that the rush is over the bond yield on mortgages is dropping.We have even seen lenders in Canada today dropping the rate on 5 year fixed mortgages. Look for more lower rates as we head into the spring mortgage campaigns of the lenders.