Friday, October 25, 2013

Rate Update

Good Afternoon, After a recent flurry of small, incremental fixed interest rate hikes that we have not seen for over a decade, interest rates have leveled out. In fact, we are starting to see the opposite with fixed rate specials coming back from various lenders. This should continue till the year-end, as all the major banks corporate year-end is Oct 31. This means the banks will then be gearing up for a brand new year of product specials which usually launches in Jan/Feb for the spring market. Currently there are some fantastic options with variable rate mortgages if you are using our mortgage “Principle Reduction Strategy”. Historically however, we continue to reside in an ultra low interest rate environment and not heading into higher rates any time soon. The Bank of Canada in their announcement yesterday even tempered their comments on growth and inflation in the Canadian economy. Most economists are not predicating any changes in the prime rate till at least until early 2015. Currently the Prime Lending Rate sits at 3% TELUS PROMOTION OFFERED to Dreyer Group Mortgage Clients and Partners I thought I would forward this Telus promotion that has been offered to all Dreyer Group clients and partners. It actually is a great package. If you are interested, use the promo Code on the flyer. Upload Flyer Now. Any questions on mortgage financing, please call. We're are always here to help. Warm Regards, Jared Dreyer - Dreyer Group Mortgage Team Your Mortgage Professionals Top 10 Mortgage Team in Canada 604 649-5991 1-800-687-9020 Contact our office now

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